The disruption meted by the Covid-19 Pandemic on the school calendar saw closure of schools for 9 months in the period March -December 2020. The government has since had to work out a very tight timetable to recover the downtime in order to regularize the situation back to normal by January 2023. This has seen the commencement of a learning marathon in 2021 that has begun to weigh down on parents and students alike. Various advisories have been circulating on social media that attempt to prepare different stakeholders to ride the upcoming storms.
One particular advisory piece reads in part:
Here is what the holidays/breaks look like
• July – 1 week
• October – 1 week
• Christmas break – 10 days
You can expect the following
• Exhausted children – behavior issues
• Financial strain on the parents – costs such as transport will increase.
• Exhausted school staff.
The piece then goes ahead to advise parents on how best to cope with the anticipated challenges. The advisory pointers mentioned include; spending quality time with the children, prayer, maintaining a close relationship with the school administration and staff, as well as reduction of academic pressure. One major additional point to note is the minimized time between the school terms and the high pressure on parents to cope with the school fees requirements.
Covid -19 has wreaked significant economic havoc and caused unprecedented financial damage. With the on and off closure of institutions, facilities, zones, borders and what are deemed non-essential services, families have suffered deep seated losses. A case study of the education sector for example, depicts how the closure of learning institutions has seen both primary and secondary stakeholders significantly affected. When one institution is closed, the principal stakeholders affected are those directly employed as academic and non-academic staff. The next layer are the auxiliary services provided including grounds services, security, cleaning, and outsourced shops within. The next layer are suppliers who supply goods to the school directly both consumable and otherwise. This is closely followed by suppliers that support the school customers (the students), up to and including provision of transport, uniforms, tuition, and other student support. The next level are businesses that have anchored themselves geographically next to the institution and have the primary stakeholders as their customers. These include student hostels, staff housing rentals, eating houses, entertainment spots, barber shops, and other related vendors. So wide is the school ecosystem, that the shut down of just one leads to the economic shut down of man.
These affected parties hail from the very families and households that will be expected to plug into the school term marathon, and fork out school fees to keep their children in school over the back-to-back term schedule. Lack of school fees is every child’s potential nightmare in trepidation of the shame and trauma that comes with being sent home. Equally lack of school fees to keep a child in school and ensure uninterrupted education is every parent’s worst speculation. The reality on the ground is that there will be school fees stress, and the further reality is that parents and guardians will need help to navigate the school fees challenge. Sourcing for school fees financing is an option to tide parents through this tough season and to keep students in school. Parents need to be careful though to have the loan facility paid directly into the school to avoid diversion of funds for other pressing needs.
Before taking a school fees loan however, one needs to carefully seek financial advice to map out the loan repayment plan so that the solution sought on one end does not end up being a source of pain on the other during repayment. It is important to sit with the lender and work through possible sources of income to tap into to make repayments at what rate, over which period and in what quantity. If one is in business then advisory services to review business plans and strategies, and work out the kinks towards business development and more efficient business admin would be critical. If one is in employment then personal financial planning assistance would be beneficial to ensure obligations are not overwhelming after taking up the school fees loan.
Lack of school fees is very high stress inducing. Mental health experts advise that financial distress is a major cause of mental breakdowns and mental health crises. Financial stress is the leading cause of mental anguish and usually manifests itself physically including: erratic mood swings that are a challenge to cope with; splitting headache and migraines leading to incapacitation; panic attacks and other respiratory and cardiovascular distress; social withdrawal, absenteeism and other seclusionary tendencies, amongst many other emotional symptoms that may lead to full blown depression. Stress and pressure are real and only one pandemic away from each family.
It is said that the best way to handle a problem is to identify it, dissect it into small bits, address each bit on its own and then patch up the mini bits into one comprehensive solution. This helps minimize the apprehension and consternation of dealing with the mammoth challenge at one go. Same thing applies to the school fees challenge. As best possible speak to the institution of learning and map out a win – win payment plan that will ease the burden. Speak to your financier and work out a financing solution with a manageable repayment plan, and then proceed to tackle the school fees monster head on. Nelson Mandela the great South African freedom fighter, patriot and global ambassador for inclusion and peace has a famous quote that says “It always seems impossible until it’s done”. Indeed the school fees battle may seem impossible, but with the right partnership, it can be done!
Springboard Capital Ltd has a friendly school fees loan solution that is tailored to meet parents and guardians’ needs to enable and facilitate easy school fees payments. Click here to apply for a school Fees Loan
Article written by Carolyne Gathuru– Chief Executive Officer of Springboard Capital Ltd. She is very passionate in training and people development with a track record for shifting mindsets towards personal and professional success.
