Tuition, fees set to rise as pandemic inflation woes hit Kenyan families

Kenyan families will pay nearly twice their household monthly income on school supplies, according to the latest global survey by WorldRemit.

The study –by the Global payments company firm, announced the results of its 2022 Cost of School study observing how the changing economic environment has affected the true cost of education across 21 markets globally.

First launched in August 2021, the survey compares the average cost of basic educational needs with average annual incomes and fertility rates to determine the season’s financial impact on families around the world.

WorldRemit recently connected with 3,000 international money senders to learn how inflation is impacting their daily behaviors and spending habits.

The group listed educational support as one of the three primary reasons they send money overseas, but noted that as a result of the rising living costs, 52% now send money abroad to fewer people, with 72% now only sending to close family.

More than 244 million people are classified as immigrants around the world and account for large percentages of populations in countries like the United States (14.4% of total population), UK (9%) Australia (30%) and Canada (21.5%).

For the nearly 250 million people who live in different countries than their families, understanding the true cost of education is often top of mind. As such, planning for a child’s return to school can take months of financial planning for those working overseas to support family in their home country.