Rajat Bhardwaj, Co-founder of CoinSwitch, has called out skyrocketing school fees, saying education has become the biggest liability for Indian families, pushing some parents to take “EMIs for nursery.” In a candid LinkedIn post, Bhardwaj painted a stark picture of middle-class struggles as school expenses spiral far ahead of incomes.
“30% fee hike. If this isn’t theft, what is? Started having conversations about school for my daughter. Shocked to hear what’s going on. In Bangalore, parents are now paying ₹2.1 lakh for 3rd standard. That’s not an international school. That’s regular CBSE. One parent called out the ₹2L fee for Class 3, saying even an engineering degree costs less,” he wrote.
Bhardwaj added, “And it’s not a one-off. Fee hikes: 10-30% every year. Middle-class salary growth: Just 0.4% CAGR over the last decade. Education expenses: Now 19% of total household income. Annual school cost for Class 4 in Ahmedabad: ₹1.8L. Forget saving for college. Parents are now taking EMIs for nursery.”
“The official data says education inflation is just 4%. But try telling that to the mom comparing 5 school brochures or the dad doing mental math between rent and bus fees. This isn’t just inflation. It’s erosion. Of savings, sanity, and even family dreams. We used to say, ‘education is the great equalizer.’ Now, it’s the biggest monthly liability,” he pointed out.
“And if you’re a builder, founder, or policymaker in fintech, this is your user. Struggling quietly, cutting corners, still showing up. Find ways to make them win,” Bhardwaj concluded.
The post sparked a wave of responses from netizens sharing similar experiences.
“Parents can choose home schooling. The schools know that system is not in abundance and hence are exploiting — Not just kids, but teachers too. It takes a lot of effort but local communities can be formed. Also why not fix the root cause of the problem — Quality of education in govt schools which has given rise to the pvt school industry and coaching centers. Easy to crit than fixing the system,” wrote a user.
Another commented, “I’m not exaggerating — I can show you the actual fee receipts for my daughter from 1st, 2nd, and her current 3rd standard. That’s how high the costs are if you want to give your child a strong academic foundation. Even average schools charge around ₹1 lakh, so it’s understandable that reputed institutions would charge more.”
“Home schooling is a solution to this blatant exploitation in the name of education. The quality is not worth the ridiculous fees and donations being asked, and on top of it, parents have to spend all their time and energy and make the kids study. Better to homeschool without the fuss of these exorbitant fees,” said a third.
