Parents shelling out Rs 32K a year for children's education

Indian parents spend an average of Rs 32,000 annually on their children’s education, according to a survey, with families in tier 1 cities spending as much as Rs 43,000. Parents shell out Rs 33,000 in tier-2 cities, Rs 34,000 in tier-3 cities and Rs 29,000 in tier-4 cities.

The study was to analyse the overall spending on a child’s schooling and education in India among those in affordable private and government schools. It was carried out by edtech company Schoolnet.

“India has one of the largest K-12 schooling systems in the world, with 1.5 million schools and 250 million students. As seen in our survey conducted among children studying in affordable private and government schools, families are willing to spend increasingly on education as they understand the importance of in-school as well as after-school education." Schoolnet CEO RCM Reddy said.

According to him, there still exists a vast gap in the facilities available across the country which impacts the spending on education. “Through this survey, we wanted to understand the spending habits of India’s average family when it comes to school education in India. This would help us work towards sustainably bridging the supply and demand gap that exists currently,” he said.

The study also analyses assistance of after-school education, on which Indian families spend Rs 16,000 annually. Various factors such as tuition fees, laptops, textbooks and even subscriptions to online educational applications form important components of its accessibility and delivery.

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