Caution money?
A disgruntled parent, Mirpur, Dhaka
My son's school board "decided" to increase the caution money, from a one-time deposit of Tk 6,000 to Tk 8,000 last year, to Tk 10,000 this year. This is in addition to the ever-increasing annual and monthly tuition fees.From what I know "caution money" is a security deposit that is taken from students in case of damage of school property, to be refunded in full when the student leaves the school. There can be only two reasons for the increase in security deposit: a) If the school has statistical fact to prove that there has been too many property damage in the past and in order to alert the parents / students it is necessary to raise the caution money. b) This is an easy source of income, which is there for the asking. The first case is a definite NO since we parents would have known about it if this was true. If the second case is true then it is good business for the school Tk 10,000 per student multiplied by at least 2,000 , put in a bank yields Taka 12 lakh per annum, at a minimum interest rate of 6%. All the board has to do is "decide" -- the rest is easy and money will start pouring into their bank accounts without hesitation, all in the name of quality education! What is the difference between a hijacker, who holds a gun at me and takes my money, and a school of this kind? In both cases I give in helplessly without any complaints. I know many parents will agree with me, and many are as helpless as I am.
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