Avoid the back-to-school rush: How parents can ease school fees burden

As schools reopen for the new term, many parents are once again feeling the familiar pressure that comes with back-to-school season.

The rush to clear fees, buy uniforms, and settle transport arrangements, all within a tight deadline.

This term, however, the strain has been heavier for many households after school reopening dates landed at the edge of the month, catching parents off guard at a time when most are yet to receive their monthly salaries.

For families living on fixed incomes, this timing creates a recurring financial trap. The result is often last-minute borrowing, delayed reporting for learners, or parents being forced to liquidate small investments and savings meant for other needs. Education, while essential, becomes a seasonal financial emergency.

Financial experts note that one of the most effective ways to reduce this pressure is planning school fees payments as a long-term savings goal rather than a short-term crisis.

This is where a dedicated school fees savings account can make a significant difference, helping parents spread the cost across several months instead of struggling to raise a lump sum within days.

A structured school fees account not only supports budgeting discipline but also ensures that money set aside for education is protected from competing household expenses.

Lenders across the country have been rolling out products to ensure parents have the required cash for their kids’ education at the right time.

A good example is the Equity Bank’s School Fees Account, designed specifically to help parents and guardians save gradually and pay fees conveniently.

The account is affordable to open, requiring only Sh100 as an opening and operating balance, making it accessible even for low and middle-income earners.

It also comes with practical benefits that ease the cost of transactions, including four free withdrawals per year and three free banker’s cheques annually for school fees payments.

The account further supports automated saving through free internal standing orders, allowing parents to set aside money consistently, either weekly or monthly, depending on their income flow.

Unlike many conventional savings accounts, Equity’s School Fees Account has no monthly charges or maintenance balance requirements, reducing the burden on parents already facing high education costs.

Account holders can access their funds conveniently through Equity branches countrywide, agents, ATMs, and mobile banking (Eazzy 247), giving them flexibility regardless of location.

Beyond convenience, the greatest value of such an account lies in the discipline it promotes. By saving in advance, parents avoid the cycle of borrowing and emergency fundraising that often comes with sudden school reopening announcements.

It also ensures learners report to school on time, avoiding disruptions that can affect academic performance and emotional well-being.

How to open a school fees account with Equity Bank

Opening the account is straightforward. Parents or guardians only need an original national ID and a copy, as the account is opened in the adult’s name.

The account can be used to save for one or multiple children, allowing families with several learners to plan under one structured platform.

To sign up, parents are required to simply visit their nearest Equity Bank branch, present the required documents, and fill out an application form.

Once processed, the account becomes active and parents can begin saving immediately.

Also Read: Why Equity Bank’s Teen Member Account is a smart start for your child