The private unaided schools estimate a loss of Rs 2,525 crore because of the decision taken by the government to cut 30% fees during the current academic year, says a survey.
The survey was conducted by the associated management of primary and secondary schools in Karnataka. Of the 3,655-member schools, 70 participated.
They spoke about the financial loss occurring due to the decision taken by the government to cut 30% from the tuition fee collected during the previous year.
As mentioned in the survey report, which has also been submitted to the Karnataka High Court, the schools which fall under budget category (Rs 35,000 fee per year) have been reeling under a crisis because of the pandemic-induced lockdown.
The problem is compounded as there is zero support from the government and now, the fee cut.
In the survey, the school managements mentioned that the fee cut order had caused huge insecurity and school managements had become loan defaulters.