Education guide
Planning school fees from the naming ceremony
Three large bills a year, rising most years, for fifteen years or more. Here is how families we work with turn school fees into a calm monthly habit.
Know the real number
Add up what you expect to pay from nursery to the end of secondary school, then university. For a mid priced private school in Ibadan, families tell us about ₦150,000 a term in nursery, rising to ₦350,000 in secondary. That is more than ₦14m over fifteen years before university.
Fees in many schools rise every year or two. Planning for a rise of 10 percent a year is sensible (example assumption).
Start early, start small
A plan started at the naming ceremony gives the money years to grow. Starting at JSS1 means saving the same total in a fraction of the time.
Most families start with an amount they will not miss, such as ₦15,000 a month, and raise it when income grows.
The guarantee that fees continue matters more than any growth rate.
Protect the plan, not only the savings
The part people forget: what happens if the paying parent dies or cannot work. Our education plan keeps paying the planned fees directly to the school to the end of the plan in that case. That guarantee matters more than the growth rate.
Growth on the savings is an example rate set each year, shown in your yearly statement. It is not promised.
Use the termly rhythm
Upload the school invoice in your account or let the school send it to us. We pay within five working days and send you the receipt on WhatsApp. No queue at the bursar's office.
If the child changes school, tell us. The plan follows the child, not the school.
Figures in this guide are example figures for a COVORN demo site.