The widespread of the coronavirus pandemic has closed down schools and currently taking it's toll on the Nigerian economy. The effect can be seen in the crash of crude oil prices to $20/barrel and also in the crash of the Naira/Dollar exchange rate ( $1 = ₦415 now). This means that the Naira has lost some value and can no longer purchase the same amount of goods and services as it could a few weeks ago.
The adverse effect of Covid-19 on the economy will affect both parents and schools. First, the prices of goods and services will highly go up to adjust the for Naira devaluation thereby putting a lot of pressure on house hold income of families. On the other hand, Schools are likely going to increase tuition fees in the coming months. All of these will make it very difficult for families to meet up with the demand of paying their children's school fees.
To ease the effect of the coming adverse of the economy on families, Schoolable designed a flexible payment solution that allows families to pay their children's school fees in monthly instalments as opposed to termly or yearly lump-sums as the case may be.
How does the monthly school fees service work?
In summary, this is how the monthly school fees works;
- You signup on Schoolable and activate a monthly school fees plan for your children.
- At the beginning of the term, Schoolable pays the entire school fees of your children and they can resume school.
- You maintain a monthly payment towards your children's school fees for the rest of the academic year.
The reality is that the coming months will likely be challenging for most families in Nigeria. We encourage families to give their children education a head start using Schoolable's Pay school fees monthly plan.
Calculate how much you will need to pay monthly here
To learn more about the monthly school fees service, click here