Nothing in the world is as empowering as knowledge – the single biggest driver of economic growth globally. However, with rising costs of education, this development may go for a toss. Over 70% of students opt for higher education and fund a major chunk of their education with pricey loans. To add insult to injury, tuition fees are not the only expense. There is a range of ancillary items that students need when attending school and college, especially if the student lives off-campus.
Now consider these survey results:
- Nearly 60% of a middle-class family’s expenditure is disbursed for fees, books, uniforms, transport cost, home tuition fees and in other career advancement works.
- Parents would have to spend nearly Rs 30 Lakhs to raise a child from pre-school to higher secondary education by the year 2025.
Worried? Well, our intent behind presenting these results is not to scare you, but to apprise you and prepare you for the future. To put it into perspective, good education needs mental ability and financial stability. With cut-throat competition, dropping out is not even an option. You and your child stand to lose more without a good education. With rising costs of private and government colleges, savings may dry up among a sea of other penny-pinching measures.
If you want your child to study in the best institute, someone’s going to have to pay for it. Whether you have kids in school or young children preparing for college admissions, it is never too early to start planning for their prospective education expenditures. That is why, we at EarlySalary have designed a unique product, ‘FeEs’ to share your children’s fee burden.
FeEs by EarlySalary lets you transfer your credit limit to the institute where you want to pay the fees. It also offers a flexible fee payment option through EMIs, and is especially beneficial when you do not have sufficient money to pay entire expensive school fee amount in one go. You can choose from 2 EMI repayment options – between 3 / 6 EMIs. This helps in smoothing cash flows by converting lump sum fee payments into smaller tranches.
If you cannot pay the entire fee in one go, you can even avail up to Rs 3 Lakhs to pay fees, depending on your eligibility. The best part is that you can pay as you use our services. We do not charge any prepayment charges. All this can be done without any hassle within the EarlySalary app with zero paperwork.
Parents have a plethora of tasks in their heads due to which timely fee payment may slip off their mind. Hence, to avoid such a situation, EarlySalary sends fee payment reminders ahead of deadlines for fee deposition. Thus, we ensure that your kids study without any disruption with regular fees deposits through EMI.
Our transparent and accountable process keeps the school and parents in the loop. Both, the schools and the parents can check the status of the fee payment and transactions.
Secure your kids’ future with EarlySalary FeEs. Download and sign up on EarlySalary today to carve a brighter path for your children’s education & future.