A recent study by global payments firm WorldRemit has revealed that payments by Kenyans on school-related expenses strain their financial muscles.
The Cost of School study results for 2022 reported that Kenyans spend over 1.75 times their monthly household income on school-related costs.
The study was born in 2021 to compare the average cost of basic educational needs versus the average annual earnings and fertility rates. Comparing these then determines the financial impact on families all over the world in that season.
The COS 2022 study takes account of how the dynamic economic environment has impacted the real educational cost in 21 different markets worldwide. Kenya is among African countries that pay more than the monthly earnings on school-related expenses. Other African countries include Morocco, Ghana, and Cameroon.
“Parents in countries such as Morocco, Cameroon, Ghana, Kenya, and Guatemala all can expect to pay more than a hundred percent of their monthly household income on school supplies this season,” read part of the report.
Yet, a one-year comparison of the study’s 2nd year in existence reveals even more shocking results on how inflation affects the cost of study. Besides, the prolonged delay of study activities due to Covid-19 has put more strain on parents now since schools have to recover the lost time.
To many, recovering the lost time means cramming together study-related activities. For instance, 2022 has had four school terms instead of the usual three. It means that parents have had to pay school fees for four terms and not three, which the ever-rising cost of living to worsen.
A spot-check conducted in May 2022 showed that parents and guardians have to part with about ksh.20,000 to cover school accessories for those joining Form One. Publishers have also revealed that the cost of textbooks has risen by ten to twenty percent.
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