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Slowdown: parents seek cheaper schools
By siliconindia
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Friday, 26 December 2008, 18:30 IST |
1 Comments
Bangalore: Many parents are pulling their kids out of expensive schools and enrolling them in cheaper ones as a result of the global slowdown. A few international schools in Bangalore witnessed their students dropping out after their parents lost their jobs.
According to Arjun Ray, Chief Executive, Indus Group, four students dropped out after their fathers (airline pilots) were pink-slipped. Bethany School, an institution in Koramangala, had five students from international schools enquiring about admission, reported The Times of India.
Job uncertainty is making the next academic season a anxious one for parents. "With no projects lined up for the next year, I had to get my son enrolled into a less-expensive school nearby, even if it means compromising on the quality," said a civil engineer.
"Worries of job stability apart, I need to also look at making arrangements for Rs 1.2 lakh for both my kids by next March," said a concerned. He had paid Rs 19,100 per child this year, but the fee structure announced for the next year is Rs 43,100 per child.
Widespread concern over high fees which seem to be recession-proof has led to some up-market institutions to mull fee freeze, or even a downward revision for next year.
Chenraj Jain, Chairman of Jain Group of Institutions said that they have no plans to hike fees, instead will give quality education at affordable fees. The chairman also said that in case if any crisis-hit parents approach him, after looking at genuineness of the case, he will extend all the possible help to them whether allowing them to pay through easy installments or supporting them through any other means. Few other elite schools too echoed similar opinion.