LEGALLY SPEAKING: 38% Of Sa Parents Behind On School Fees
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Waldo Marcus, head of marketing at TPN Credit Bureau talks about The share of parents who are behind on school fees increased over the past year, according to a new survey conducted by the credit bureau TPN among private and public schools where fees are paid.
Families had to weather an extraordinary financial storm last year, as food and fuel prices rocketed - along with interest rates.
At the end of 2022, only 62.57% of school fee accounts were in good standing compared to 63.75% at the end of 2021, the survey showed. This is still far below pre-pandemic levels of around 68% in 2018 and 2019.
During the third quarter of 2020 – at the height of the Covid-19 lockdown – only 50% of parents had paid their children's school fees in full. By the end of that year, just 56% of parents were in good standing.
Families had to weather an extraordinary financial storm last year, as food and fuel prices rocketed - along with interest rates.
At the end of 2022, only 62.57% of school fee accounts were in good standing compared to 63.75% at the end of 2021, the survey showed. This is still far below pre-pandemic levels of around 68% in 2018 and 2019.
During the third quarter of 2020 – at the height of the Covid-19 lockdown – only 50% of parents had paid their children's school fees in full. By the end of that year, just 56% of parents were in good standing.
