Experts Warn of Consequences of Delayed School Fees Payment on Children

Parents have been cautioned about the severe consequences of delayed school fees payment on their children’s well-being and academic performance.

According to Osbert Muganga, General Manager of SchoolPay, delayed payment of school fees can lead to emotional torture, stigma and underperformance.

“When a child is sent home due to non-payment of fees, they often suffer emotionally and academically,” Muganga said.

He made the remarks  on Thursday during the launch of a partnership between Furaha Finserve Uganda Limited and Service Cops Limited through its School Pay platform.  

The partnership aims to revolutionize education financing in Uganda by combining Furaha Finserve’s expertise in technology-built purpose-based financing with School Pay’s innovation, digital payments experience, and commitment to education.

According to Furaha Finserve’s CEO, Dennis Musinguzi, the company’s interest in education financing stems from its desire to make a meaningful impact on society. 

“In our society, we have many challenges, and education is key. We want to play a pivotal role in improving lives through education. We understand the transformative power of education and its importance to parents, children, and the population as a whole, and this is a key area of interest for us,” said Musinguzi 

The partnership offers several key features, including affordable financing with low interest rates, simplified loan application processes, real-time direct-to-school payments, and flexible repayments of up to 90 days. 

The service is available to the public through the Google and Apple App Stores. Customers can sign up using only their National Identity Card by going to http://bit.ly/furaha-app on their smartphones.