Mountains Of Debts Of School Fees Grow In Expensive Institutions As Parents Plead, Write Structured Payments Undertaken For Students Not To Be Thrown Out.

…others withdraw wards to less paying educational facilities to meet up

Information filtering in has it there is a growing mountain of debts in expensive education institutions across the nation.

And the debts are made up of unpaid school fees and related charges.

Societynowng.com gathered the current ‘’economic meltdown’’ is being attributed for this development.

According to information available most hit are ‘’private universities’’ and listed as some of those battling this trend are two higher institutions owned by two popular religious bodies.

The managements of the institutions who are said to be very strict with payments of school fees – with outright barring of students from writing promotion examinations listed as one of the fallouts of default in payments of school fees in the past, are said to have now relax their rules to accommodate current economic situation.

‘’the schools fees are now structured like a loan to be paid at agreed intervals unlike before that it was a onetime thing’’ a source stated.

Societynowng.com gathered parents now write undertaking for managements to safe guard throwing out of their wards by school authorities.

Insiders revealed most of the affected parents are those with students in schools, irrespective of whether secondary or higher institutions, fees above five hundred thousand per term.

‘’there are a numbers of those who fall into this category in schools with lesser fees but the higher numbers reside in the educational institutions with N500, 000 per term and above from what I can gather …mind you there are three terms in a session’’ a source pointed out.

Societynowng.com learnt there is another category of parents in this emerging scenario -those who are opting for schools with lesser fees that their now restricted incomes can accommodate, without incurring crippling debts.

Checks by societynowng.com revealed not too long ago, putting students in high paying schools was a big deal..a status symbol for some, chance for sons and daughters to connect with better peers for many, the fad for a handful – with limited individuals really engaging in it solely for educational pursuit.

Amongst the schools that reigned and still reigns as expensive institutions are Regent School, American University, Loyola Jesuit, Redeemers University, Grange School, Day Waterman College, Babock University, Convenant University, Crawford University, Hillcrest School, Lekki British International School, Igbinedion University and others

This was the period of free flow of wealth- when the previous administrations were in charge, a time that was halted with claims by new government it was all a mirage.

Reality checks by new managers of the nation’s economy have it beneath the perceived affluence were gargantuan economic anomalies and to correct it, the policies put into play have stifled flow of wealth and forced many to reshape their spending and sieve their needs from wants.