Lakhs of parents in Telangana took loans to clear school fee: Report

The academic year of 2000-01 has almost been a washout. Due to Covid-19 protocols, private and government schools were closed for the most part. However, there were online classes. A number of schools ran classes for about 75 days when Covid restrictions were relaxed and schools were allowed to function.

As per a TOI report, as many as 2.8 lakh parents, most of whose children go to private schools, availed educational loans from fintech companies during the academic year. The loans, to be repaid in EMIs, have been taken by them in order to clear school fees.

A loaning company tied up with hundreds of schools in Telangana to help parents approach them for loans. 

The report goes to show the extent of livelihood losses due to the lockdown in 2020. A lot of middle class people lost their jobs, only to regain livelihoods months later. Just as things started getting better, the second wave hit, with many parts of the country going into a lockdown all over again. 

A lot of schools have been charging fees without deducting amounts meant for, say, uniforms.