'EMIs For Nursery': CoinSwitch Co-Founder Flags Rising School Fee Dilemma Of Middle-Class Parents

Rising school fees is burning a hole in the pockets of middle-class parents in India. Several posts on LinkedIn have sparked outrage over soaring admission and tuition fees for just primary grade classes in India.

The co-founder of leading cryptocurrency app CoinSwitch, Ashish Singhal, also raised the issue in a post, calling out the high school fees in India. “30% fee hike. If this isn’t theft, what is?” he said, expressing the angst of Indian middle-class families.

Singhal shared his personal experience while looking into schools for his daughter. The crypto expert was shocked to learn that many parents in Bengaluru are paying around Rs 2.1 lakh per year for Class 3, and not even at an international school, just a regular CBSE one.

“One parent told me the Class 3 fees are more than the cost of an engineering degree,” he added. This isn’t an isolated case. Across Indian cities, school fees are rising every year, often between 10% and 30%, far outpacing salary increases. He claims that education expenses are now 19% of the total household income in India.

According Singhal, official data highlights that education inflation is around 4%, but parents are seeing a much bigger impact on their wallets. In cities like Ahmedabad, annual fees for Class 4 are close to Rs 1.8 lakh.

Meanwhile, middle-class incomes have only grown by 0.4% per year over the past decade. The result? Families are now taking out EMIs just to pay for nursery or primary school fees. “Forget saving for college,” Singhal said. “Parents are now borrowing money for nursery.”

This growing gap between school costs and family incomes is pushing many to cut down on other expenses or dip into savings. Parents are juggling rent, transport, books, and uniforms while trying to give their children the best future. “This isn’t just inflation,” Singhal wrote. “It’s erosion, of savings, of peace of mind, and of family dreams.”