Now that the holidays are over…challenges parents face

As children set to resume school now that the holidays are over many things flash your mind as a parent in respect to settling your child for another academic year.

This implies paying up school fees, enrolling your child into school of higher learning, getting new books, uniforms, sandals and meeting every of your child’s educational needs.

Child growth and progress especially in the line of education demands so much financial obligation from parents. While your child progresses from one level of educational pursuit to the other, your financial responsibilities increases as the cost of education rises year after year especially with the falling standard of government owned and managed schools in the country.

Every parent want to provide his or her child the best education they can afford and so many parents enroll their children into private schools where incessant strike action is absent irrespective of the high cost.

No matter how less expensive the choice of school for your child may be, it involves you shopping around to select the school to enroll your child if he or she is moving from primary to secondary school or if you feel that the child is performing below par. Inspect the school environment, the facilities available such as sporting facilities, laboratory facilities, library and quality of teachers to ensure that your child gets the best from your spending and do not get carried away with names.

Shopping for books, sandals, school bags and uniforms should be done as soon as possible before opportunistic sellers sap out fortune out of you. Also take your time to get these items to avoid rush and frantic buying as this may not be favourable to you.

Most importantly, make out plans on how to pay up your child’s school fees. Experts usually suggests that parents should pick investments plans on how to finance children’s education since paying of school fees is a recurrent task.

You can ease yourself the stress by opening an account for your child as soon as you want to start having children, but if you have not done so yet is not too late, you can pick up an investment plan that best suits the age bracket of your child from any of the banks.

Early savers package as made available in some banks can be very useful in financing your child’s education. Money gifts given to your child at birth, money given to your child by relatives, excess money that come your way and money set aside from your earnings for this purpose would be your saving grace in a time like this.

Another handy instrument to finance your child’s education is loan from your bank. Some banks can offer a customer loan for his or her child’s education the customer has saved a certain amount of money. It is however advisable that you consider the terms of such loan to determine if it is worthwhile the while.

By: Hope Ikwe