Low-budget schools operate with little financial cushioning, relying almost entirely on the tuition fees they charge to run their operations. Following the pandemic and the subsequent lockdown, several parents have found themselves unable to pay their children’s tuition fees. Many of these budget schools were not able to offer virtual classes, and when they did, very few students attended either because of connectivity and device issues or the lack of a supportive home environment. The majority of parents are hesitant to pay for virtual classes, and so most school owners have had to survive on significantly reduced fee income for most of the last two years. This then makes it difficult for schools to make the necessary investments in the teachers, infrastructure and supplies required to deliver quality education.
This is why Varthana has launched the “Smart Fee Program”.
‘Smart Fee Program’ is the new and smart way of collecting fees. The program enables schools to receive fees upfront while allowing parents to make easy, affordable monthly payments. The program is designed to cut dropouts and improve the enrollments even as it allows school owners to focus on education rather than fee collection.
Specifically, schools benefit in the following ways:
1. Upfront cash – School receives 50% of the annual fees at the start of the year.
2. Predictable cash flow – Remaining fees are received on fixed dates, giving schools confidence in their future cash flows.
3. Parent friendly – Parents make easy monthly payments throughout the school year
4. Hassle free – Varthana collects monthly payments from parents, allowing the school to focus on delivering quality education.
It’s not the schools alone that are suffering. For every 3 months of school closure, students lose one academic year of learning. The 24 months of school closure in India means that most students are now 3 years behind their designated grade level.
We all need to make a strong commitment to this generation of students. Schools need to invest in improving quality and addressing remediation requirements to get students back on track. Parents need to support schools by committing to pay the fees that allow schools to function. Through the Smart Fee Program, Varthana is 100% committed to enabling both schools and parents to do their part in helping students resume their education.
Contact your Varthana representative or call 080-6845-5777 to start collecting fees the smart way!
To know more write to us at [email protected] or visit www.varthana.com