The education of children is the topmost priority of every parent and something that can't be ignored no matter what.
But with each coming year, the cost of education has only increased due to several factors.
As the number of school-going students rose over time, the demand for better schools has subsequently shot up, giving way to additional expenses. A lot of ICSE schools in Bangalore has accepted this fact.
And yes, let's not forget the inflation that took it a step ahead. With all of this (concerned), it becomes more important to have a clear idea of the distribution of fees. It'll help you to plan your finances better.
Often, we assess the school's expenditure merely on the basis of tuition fees and overlook its other components. You may be surprised to know that the tuition fee is only a small part of the money that you're paying to the school. There is a long list of other expenses involved.
To make things transparent for you, we curated a list of fees distribution. Let's first understand the meaning of tuition fees.
This is a primary fee that the school demands for tutoring your child. It forms the basis of school fees and varies from school to school.
The tuition fee increases as your kid get into senior classes. In some schools, it is levied on a monthly basis, while many others, like the majority of the schools in Bangalore, charges on a quarterly basis
One important thing to note is that it may be the biggest component of school expense, but still, it accounts for less than 50% of the total expenditure.
Once you're sorted with admission, the very next thought is, how am I going to send my kid to school daily.
Commuting has become expensive over time with the rising prices of fuel, be it auto-rickshaw, bus, or van. As per several parents, the commuting cost is the third-largest contributor to the overall school expenditure. In fact, it adds around 12-18% to the total school expense.
Hence, not paying attention to it is a futile practice and something you should be considerate about.
The school has to keep improving its infrastructure to stay relevant with regard to its competition.
School building gets the most amount of traction; thus, it needs to be well-maintained with optimal quality. Now, where do you think the money for the same comes from?
Of course! Student's fees have a key role to play here. A lot of schools charge this expense at the beginning of the year itself.
The money required for availing of facilities like labs, playgrounds, library, auditorium, etc., is incurred from your pocket. A good 7-10% of the total fee is used for infrastructure upgrades.
The beginning of the academic year is that time where you'll be purchasing new school supplies for your kids.
Now, it's not 2-3 items we are talking about, but there's a long list of supplies you have to keep up with. It requires efforts on your part to make a checklist of all the items that need to be purchased.
Many schools of Bangalore provide this checklist to the parents, but in some schools, it's not done. Hence you have to make sure to include everything - backpack, lunch box, water bottle, books, registers, stationary, uniform, shoes, and many more.
It's no secret that these items are a significant part of school expenses. It amounts to 15-20% when the overall school expenditure is concerned.
Along with theory, your kids are also taught practical learning in Schools. They make use of a variety of labs like science labs, language labs, libraries, psychology labs, etc.
These labs are well-equipped with relevant instruments and are regularly updated.
The fee for these labs is separate from the tuition fee and is supposed to be incurred by you. It is levied on a monthly basis, while some schools take it annually to smooth the procedures. As per the directors of several Bangalore schools, 5-15% of total school expenditure is laboratory fees.
There is a procedure of readmission in a plethora of schools either annually or when your child enters some specific grades.
Some schools are a combination of preschool, middle school, senior school, and junior college. If your child is a part of such a school, then you need to pay a readmission fee whenever they pass these levels.
Gone are the days when admission was made once and for all. Today, the educational patterns have changed to accommodate readmission after a set of years. It varies to a huge extent, but on average, it's around 7-10% of the total school fees.
Schools organize a variety of activities or competitions throughout the year. These programs are conducted to foster the holistic development of your child and cater to their additional needs.
Ranging from sports events to literary competitions, art exhibitions to career counselling workshops- schools have a lot to offer you.
On top of it, annual picnics or field trips are arranged to give your kids a new exposure. However, the outlay for the same is levied on you. It's not huge in comparison to other heads but amounts to 5-7% of the total fees.
There are some additional expenses here and there like coaching fees, canteen charges, exam fees, etc. These are not common in all the schools but are definitely worth considering.
It's going to help you big time, especially if you are going school hunting for your little ones.
I hope you have a complete understanding of the school fees distribution pattern.