Indian Parents Spend an Average of Rs 32,000 Annually on Their Children’s Education: Survey

On an average, Indian parents spend Rs 32,000 annually on their children’s education, claim Schoolnet’s survey titled, ‘Understanding Indian School Education Spends Landscape’. While families in tier 1 cities spend as much as Rs 43,000 for their wards education annually, those in tier-2 shell out Rs 33,000 and Rs 34,000 in tier-3 cities and Rs 29,000 in tier-4 cities, the report added.

Further findings revealed that 7 per cent of families in tier 1 cities spend under Rs 10,000 on their child’s schooling, as compared to 18 per cent of parents in tier 4 cities in the country. The data also shows that a large gaps exist in education spending across the country, owing to factors such as expensive options for supplementary education, varying availability of resources, and levels of education of the parents. “As we move from Tier I to Tier IV, the average spend on education reduces, which influences the equitable access of education in the country,” claims the survey.

As per the study, on average, Indian families spend  Rs 16,000 annually on after-school education including personal tutors, tuition classes, and coaching classes,” added the survey.  Overall, about 32 per cent of families in Tier 1 cities spent less than Rs 10,000 on after-school services, as compared to 41 per cent of parents in Tier 4 regions.

This study was conducted in collaboration with PGA Labs on the overall spending on a child’s schooling and education in India among those in affordable private and government schools.

“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. At the same time, there still exists a vast gap in the facilities available across the country, which impact 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,” said RCM Reddy, MD & CEO, Schoolnet.

Read all the Latest Education News and Breaking News here