How to Manage Scholarships and Fee Concessions for Deserving Students
Many coaching centers offer fee concessions to top performers or siblings. Tracking discounts systematically prevents billing errors and maintains accurate net revenue data.
Informal discounts lead to billing confusion later
Promising verbal fee discounts without adjusting the official ledger results in accidental overdue notices being sent to parents who received approved concessions.
Document and adjust fee plans systematically
Establish transparent criteria for merit scholarships, sibling discounts, and need-based waivers.
Adjust the student's baseline instalment schedule directly to reflect the approved discount.
Note the reason for the concession on the student's profile for institutional transparency.
Ensure issued receipts display the adjusted net balance to prevent confusion.
Put it into practice
Example: Sibling discount adjustment
A family enrolls two children; the younger child receives a 20% sibling waiver, adjusting their quarterly fee from 5,000 to 4,000 rupees across all schedules.
Worth checking first
- Review scholarship eligibility annually based on academic performance.
- Keep a private internal record of all granted concessions for tax accounting.
How EduVetta helps
EduVetta allows you to customize individual student instalment amounts within a batch, ensuring fee schedules and receipts match agreed discounted terms perfectly.