The long vacation is finally coming to an end and pupils will be returning to school on Monday, September 9. Dear parents, I hope you enjoyed your time with the children, especially those of them who will be going back to the boarding house. I hope you found time to bond. If you did not, not to worry still, there will be a next time.
The beginning of a new academic session, desirable as it is because it marks a higher level for the child who is going to a new class, comes with a lot of financial challenges. A new academic session means that school fees are knocking on the door. There will be need for new books, new school uniforms for children moving from junior to senior class or who have outgrown their old uniform, dormitory fee for pupils going (or returning) to a boarding school, school bus fee for pupils who go from home daily, and so on. Also, those in certificate class (junior and senior) will be getting set to pay examination fee, and often schools ask for fees for the three terms at once. All of these can be overwhelming for parents. This is made even worse by the prevailing economic situation in the country. However, what has to be done has to be done.
In what ways can parents cope with times like this? Many parents may have been saving for a new academic session while others may not have saved, not because they did not want to but simply because the numbers did not just add up. If you saved for this time, kudos to you, the problem is half solved. If you did not, it could weigh you down. Still, there are options to consider.
Many banks offer back-to-school loans for parents to take care of times like this. Some also run some type of accounts that give students a chance to to win financial support. I will not mention any bank so that this doesn’t turn out to be an advert. One of the commercial banks in the country states on its website, “We know that all you want now is to settle the kids back in school comfortably. That’s why we have designed a suite of Back2School offerings to make school resumption easy.” It then goes ahead to advertise some available options, such as fast loans, eduloan, SWEETA account, among others. I advise that parents who may be interested in such loans should check things out themselves, seek advice from financial experts and be sure they understand what they are getting into. But also, remember that every loan has to be repaid. Make plans to repay the loan but, in the medium term, consider taking out an education insurance policy for your child so that you can avoid taking a loan next year.
Also watch out for programmes that give students the opportunity to get some form of financial assistance for their education. There are essay and other competitions for students that your child can enter and stand a chance to win a scholarship. Look for these opportunities and explore them.
This is also a time for stocktaking. Every parent desires that their children attend the best schools. However, the economic realities do not always align with this desire. What should a parent do in such a situation? My sincere advice is that you cut your coat according to your cloth. If the school you desire for you child is not affordable to you, the beginning of a new academic session offers an opportunity to reconsider and maybe take your child to a more affordable school. My prayer is that this will be temporary, and you can always take your child to your desired school once situation improves.
While it is also the desire of every child to go back to school with new things, like uniforms, bags, sandals or shoes, among others, ask yourself whether your present financial standing can support that. If it can, please go ahead and make your child look their best. It helps boost their confidence. But if you cannot, don’t flog yourself. Find a way to talk to the child and explain things to them with a promise to replace their old school items as soon as you can. Teach them to be proud of whatever you can afford for them and not compare themselves with kids who may be from richer homes.
Also, look out for other ways that you can possibly cut cost. If your child uses a school bus, weigh the cost of the school bus and the cost of you taking the child to school yourself, if you have a car. This will further cement your bond with the child. This, however, depends on your schedule. If you have a private teacher for your child, you may want to assess the benefit of the home teacher versus the cost to see whether you may need to disengage the teacher for the time being.
Dear parent, my thoughts are with you as you navigate this difficult time. Always remember that these are suggestions and they are not cast in stone. Do what works for you. What works for A might not work for B. Finally, may your efforts never be in vain.
Stay blessed till we meet again next week.
