No one understands how quickly the days pass quite like a parent with school-age children. One minute, the school says it is holiday time. Before you know it, another WhatsApp message arrives: resumption is next week, payment is due, and there are three new charges you do not remember seeing last term.

If this sounds familiar, you are not alone. For many Nigerian parents, preparing for a new school term has become a major household expense that goes far beyond tuition.

A September 2026 BusinessDay survey of 140 parents found that 85.7 percent had received tuition increases for the new academic term. Some schools raised their fees by more than 40 percent, citing higher costs for rent, power, maintenance and staff retention.

Although Nigeria’s headline inflation rate eased to 15.43 percent in July 2026, food inflation rose to 20.31 percent. This means many families still pay more for school meals, packed lunches, and other everyday essentials, even as the pace of general price increases has slowed.

With resumption only days away, hatching a long-term savings plan will not solve the immediate problem. However, you can still take practical steps to work out what you truly need, manage the most urgent payments, and avoid putting the rest of your household budget under unnecessary pressure.

School fees are only the beginning

One of the easiest budgeting mistakes to make is planning around tuition alone.

The actual cost of resumption may include:

• Tuition and compulsory school charges
• Uniforms, sportswear and footwear
• Textbooks, workbooks and stationery
• Transport or school bus fees
• Feeding and lunch money
• Examination and extracurricular charges
• Project materials, excursions and other mid-term requests

These additional expenses can significantly change the final amount. In the BusinessDay report, one parent paid ₦45,000 for a uniform, ₦50,000 for books and ₦110,000 for transport in the previous term. For the new term, the uniform rose to ₦50,000 and transport to ₦130,000.

Another parent reported that her child’s bus fare increased from ₦60,000 to ₦117,000. The price of each school-branded exercise book also rose from ₦700 to ₦1,000.

These examples may not reflect what every household pays, but they show why a budget based only on tuition can quickly fall apart.

Start with a one-week resumption plan

When time is short, don’t start by shopping. Begin with a list.

Bring together the fee schedule, book list, uniform requirements, transport bill, and any messages the school has sent. Then divide every expense into three categories:

• Must be paid before resumption: This may include tuition, registration charges, or the minimum amount required for your child to return to school.
• Needed during the first week: These are items your child cannot reasonably begin the term without, such as a usable uniform, appropriate footwear, and essential writing materials.
• Can wait until later: Extra uniform sets, non-essential accessories, and items not required immediately can remain on the list for now.

This simple exercise can make a long and intimidating list more manageable. It also helps you direct the money you have now toward the most urgent needs.

Check what you already have

Before buying anything, check what is already at home.

Confirm whether uniforms still fit, shoes remain comfortable, and bags can be repaired. Go through books and stationery left from the previous term. If you have more than one child, identify items you can pass down without affecting comfort or learning.

A uniform may last another term, but a torn shoe that pinches your child’s feet probably will not. The aim is not to avoid necessary spending. It is to separate genuine needs from purchases that can wait.

Also confirm the school’s requirements before buying. Ask whether textbooks can be purchased from independent vendors, whether an older edition remains acceptable and whether every item on the booklist will be needed immediately.

Speak to the school now

Do not assume you must pay the full amount at once.

In the BusinessDay survey, 57.1 percent of parents affected by fee increases said their schools offered staggered payment plans. Other schools maintained stricter payment requirements.

With resumption approaching, contact the school and ask directly about:

• Instalment payments
• The minimum payment required before resumption
• Early-payment or sibling discounts
• Bursaries and scholarships
• A grace period for selected charges
• Items that can be purchased outside the school
• Charges that can be paid later in the term

If a payment arrangement is available, ask for the dates and amounts in writing. This will help you plan properly and avoid agreeing to instalments that will become difficult to maintain.

Consider EDUFUND for tuition and related expenses

If you have identified the amount you can pay but still have a genuine funding gap, EDUFUND may help you spread eligible education expenses over a more manageable period.

EDUFUND is designed for parents, guardians and mature students across different stages of education, from primary school to postgraduate study, professional certifications and skills development. It can cover eligible expenses such as tuition, examination fees, school supplies, boarding and extracurricular activities.

The facility currently provides funding of up to ₦5 million, subject to the Bank’s assessment and applicable terms. Payment can be structured in equal monthly instalments over four months for one school term or up to 12 months for a full academic session, depending on the school’s calendar.

To apply, you will need to provide the completed EDUFUND form, a six-month bank statement, and the relevant school bills or invoices. The current application also requires 20 percent security deposit of the total financing value. Salary earners and business owners can apply, subject to eligibility and approval.

Before applying, work out how the monthly Payment will fit alongside rent, feeding, transport and other commitments. The purpose of spreading the cost is to make payment more manageable, not to create another expense your household cannot comfortably sustain.

Use AltMall for essential school items

Tuition is only one side of the resumption bill. Books, uniforms, gadgets, and provisions can also require a significant upfront payment.

Through AltMall, parents can shop for eligible back-to-school essentials and use the Pay Small Small option to spread the cost over time, subject to approval and the applicable payment terms.

What you need will depend on your child’s age and stage of education. For example:

• Nursery and primary school children: Books, uniforms and other basic school supplies.
• Secondary school students: Textbooks, uniforms, learning devices and other approved essentials.
• Boarding school students: School supplies, gadgets where permitted, and provisions.
• Tertiary students: Laptops, tablets, phones and other devices that support study and communication.

Availability may vary, so check the platform for the specific items you need. More importantly, shop with the school’s requirements in hand. A device may look useful, but it shouldn’t become a priority if it isn’t required for learning.

Pay Small Small (paying in instalments) can help you avoid paying the full purchase price at once. However, consider the total payment amount and monthly commitment before completing an order. It is still important to buy within a realistic budget.

Protect the rest of your household budget

Education is important, but resumption expenses should not automatically consume money set aside for rent, food, healthcare, or other essential commitments.

If the total is higher than expected, decide what can be delayed, reduced, financed responsibly, or negotiated. Before accepting any payment arrangement, confirm:

• The total amount you will pay.
• Any markup, charges or deposit required.
• The payment dates.
• The consequences of a missed payment.
• Whether the instalments remain affordable alongside your normal expenses.

A short-term funding gap should not become a long-term strain. Choose a payment plan based on what your household can afford, not simply on the maximum amount available.

Give older children a role

Teenagers can learn useful financial habits from the resumption process.

You do not need to burden them with adult financial worries. Instead, explain that the family has a school budget and that choices must be made within it. You could give them a fixed stationery allowance, ask them to compare prices or involve them in deciding which non-essential item can wait.

The Alternative Bank’s Youth Banking offering is designed for secondary and tertiary school students. Alongside parental guidance, an account can help a young person learn to manage money, monitor spending and understand the difference between a need and a want.

Start preparing for the next term immediately

Once this resumption period is over, record the full amount you spent, including smaller costs not on the original school invoice.

Divide the total by the number of months before the next payment deadline and begin setting money aside. 

School may resume next week, but you still have time to make well-thought through decisions. Prioritise what your child needs immediately, speak to the school about flexibility, explore responsible payment options where necessary, and leave non-essential purchases until your budget can accommodate them.

Resumption may always come with a long list and at least one unexpected school message. It does not have to put the rest of your household finances on hold.