Rs 2.1 lakh for class 3 in "regular CBSE"? CoinSwitch co-founder explains how rising school fees are forcing parents to take 'EMIs for nursery'
'30% fee hike. If this isn't theft, what is?' he wrote, summing up the frustration felt by many parents.
Rs 2.1 lakh for class 3?
Ashish shared his personal experience while looking into schools for his daughter. He was shocked to learn that many parents in Bengaluru are paying around Rs 2.1 lakh per year for Class 3, and not even at an international school, just a regular CBSE one.
'One parent told me the Class 3 fees are more than the cost of an engineering degree,' he added. This isn't an isolated case. Across Indian cities, school fees are rising every year, often between 10% and 30%, far outpacing salary increases.
School fees growing faster than salaries
Official data says education inflation is around 4%, but parents are seeing a much bigger impact on their wallets. In cities like Ahmedabad, annual fees for Class 4 are close to Rs 1.8 lakh. Meanwhile, middle-class incomes have only grown by 0.4% per year over the past decade.
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The result? Families are now taking out EMIs just to pay for nursery or primary school fees. 'Forget saving for college,' Ashish said. 'Parents are now borrowing money for nursery.'
Families under pressure
This growing gap between school costs and family incomes is pushing many to cut down on other expenses or dip into savings. Parents are juggling rent, transport, books, and uniforms while trying to give their children the best future.
'This isn't just inflation,' Ashish wrote. 'It's erosion, of savings, of peace of mind, and of family dreams.'
Once seen as the pathway to better opportunities, education is now becoming one of the biggest monthly bills for families. Ashish urged those working in banking, fintech, and policymaking to take notice.
'This is your user,' he said. 'Struggling quietly, cutting corners, still showing up. Find ways to make them win.'
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The Hindu
18 minutes ago
- The Hindu
Active seniors hatch a silent revolution
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Unlike the gradual ageing experienced by developed economies over several decades, India faces compressed demographic transition, a phenomenon that demands immediate policy attention and systemic adaptation. What is even more telling is the shift in lifestyle patterns. A 2022 NASSCOM study reported a 50% increase in digital adoption among Indian seniors over five years, with more older adults using smartphones for video calls, online learning, banking, fitness tracking, and social engagement. This technological embrace contradicts persistent stereotypes about seniors' relationship with technology and innovation. Simultaneously, data from Agewell Foundation shows that more than 30% of Indians aged 60 to 69 remain economically active. Many are choosing to take on new professions, consult, mentor, or launch ventures post-retirement. This cohort represents the first generation of Indians to benefit significantly from economic liberalisation, accumulating substantial wealth and developing sophisticated consumption preferences. The economic imperative These numbers point to something bigger than a trend. It's a movement that carries profound economic implications for India's growth trajectory. Consider the purchasing power concentration. It's believed that the top decile of Indians — predominantly seniors — controls over 70% of the nation's wealth. This demographic possesses both the financial means and the time to engage in discretionary spending, yet remains largely underserved by contemporary market offerings. The economic potential extends well beyond consumption. The concept of the 'longevity economy', encompassing all economic activity generated by the needs and aspirations of people over 50, is fast emerging as one of the most significant growth opportunities for India. This represents an ageing challenge and an unprecedented market opportunity that requires strategic cultivation. Not just new-age start-ups, but many legacy business houses have begun tapping into this evolving market. Moreover, the knowledge economy benefits significantly from senior participation. Their institutional memory, professional networks, and accumulated expertise represent intangible assets that when properly harnessed, can drive innovation and mentorship across sectors. Countries such as Japan and Singapore have already begun institutionalising such knowledge transfer mechanisms. There have been attempts in India as well, but they remain few and far in-between. Winding down to reimagining life This is not about 'keeping busy'. It's about reclaiming agency, identity, and joy. Roshini Devi Sangwan stepped into a gym at 65. And not to prove a point to anyone else, but to take back control over her body and her life. What began as a simple walk became a deeper journey into strength, self-discipline, and self-worth. Too often, people beyond a certain age are expected to step aside and to fade quietly into the background. But today, Roshini Devi is stronger than many half her age. And the real power of her story lies not just in her physical transformation, but in what it represents: a shift from invisibility to intentional living. Her experience mirrors a broader societal transformation. The traditional Indian joint family structure, once a reliable support system for ageing parents, has evolved significantly. With 70% of urban Indian families now nuclear and approximately 25 lakh Indians emigrating annually, seniors increasingly live independently. Rather than viewing this as social fragmentation, we must recognise it as an opportunity for autonomous ageing, provided adequate support systems exist. 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