It can help with short-term cash flow, but using a credit card for school fees only works if you are confident about clearing the bill quickly.
The cost of homeschooling can range from Rs 45,000 to Rs 2 lakh a year but beyond the finances, families must weigh its trade-offs — greater flexibility and innovative learning on one hand, and potential gaps in discipline, quality of education and social skills on the other
Many parents are facing financial strain due to incessant school fee hikes, but an option like loans for school fees can ease their financial burden. However, failure to repay monthly instalments may result in the school withholding your child's report card, as per terms.
Earlier this year, a real estate consultant in Gurugram has shared that he pays Rs 30,000 a month as his Class 3 son's school fees which the authorities keep increasing annually without offering any explanation to the parents.
There has been a steep rise in school and college fees in India in the last decade. In April, a Delhi man shared he pays Rs 4.3 lakh as yearly fees at his son's playschool while another man from Gurugram revealed that he pays Rs 30,000 a month as his Class 3 son's school fees.
So far, the company has entertained fee reimbursement applications for over 30 employees and laborers.
'The school does not even bother to explain the hike and the higher fee simply appears on the payment app! When parents protested, they said please look for another school for your kids!' real estate consultant Udit Bhandari said.