![]() ![]() Prior to the emergence of Covid-19 on the horizon, some private schools had even got used to raising by close to double digits each year the effective fee (tuition fee plus annual charges etc.) payable by students, with this percentage increase often having no correlation with GDP growth and/or prevalent inflation levels.īut, in the new normal world that we inhabit, it is unclear when such good times from an income standpoint would return for all privatelymanaged educational institutions. Significant fee increases year-on-year has been a common practice at many of these privately-run educational institutions. ![]() Over the years, India’s private education space has seen several new entrants. ![]() Which, as regulators may discover in the light of developments since March 2020, could be much more than the corpus they currently mandate private facilities to constantly keep in their bank accounts for emergency expenses. ![]() The issue assumes importance since India’s private school segment alone has a combined student population of more than 80 million, which is equivalent to almost a quarter of the total population of the United States.įrom the Magazine Poverty Porn: Making Heroes Out Of People Just Struggling To Survive Poverty In Bihar: Government Numbers Hide Real Story How Caste Equations Continue To Shape Bihar’s Economic Fortunes A Trafficked Woman, A Young Hotel Cleaner: Poverty’s Children Of Kishanganj Street Diary | A Rickshaw-puller’s Take On Life And Lockdownįurther, an analysisfactoring in worst possible scenarios – including one where a facility continues to impart education keeping societal interests in mind while unable to meet its own costs – could aid education regulators in deciding the ideal quantum of an exigency fund that Trusts/Societies running private educational institutions should always maintain for meeting urgent needs. –to a “stress test” for determining their financial resilience.As without the wherewithal to withstand a temporary financial crisis or uncertainty around money receipts for some months at least, mere good intent is unlikely to prove of much help inguaranteeing the medium-to-long term sustainability of such establishments and safeguarding the future of students. Given this backdrop, the time may have finally come for education authoritiesto subjectprivately-run institutions –schools, colleges, universities, etc. The continued unpleasant squabbling between managements of several private schools and parents of students studying at these institutions on the issue of fees payable while the Covid-19 pandemicrages has clearly shown that private educational facilities are not as resilient to economic downturns as may have been thought of before the novel coronavirus entered our lives. ![]()
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