In the Education sector, COVID-19 has wreaked havoc across the world, and like any critical sector, education has also been affected hard where students, educational institutions, and universities have been deeply impacted. While countries are at different points in their COVID-19 infection rates, millions and billions of children in more than 186 countries are affected by school closures due to the pandemic and the shift to online education.

As per the study by United Nations Educational, Scientific and Cultural Organization (UNESCO), the total impact since lockdowns due to pandemic affected more than 800 million learners from around the world. In which 1 in 5 students cannot attend school, 1 in 4 cannot attend higher education classes, and over 102 countries have ordered nationwide school closures.

Educational Institutes Prioritize on Integrating with Technology

With Covid breakout since early 2020, India has also witnessed a massive switch to online learning mediums adopted by Educational Institutions, and students made to study virtually have become a new normal. In short, with COVID-19, educational institutions across the globe have been able to find innovative solutions in a relatively short span of time.

This has accelerated the growth in the sector of online education and the Edtech companies in India, which were already on a high growth trajectory even before the pandemic. According to a NASSCOM report, Edtech companies of India had already witnessed 50% growth in their viewership by October 2020.

The effectiveness of online learning varies amongst different age groups. The general consensus on children, especially younger ones, is that a structured environment is required because kids are more easily distracted. Also, gamification of online courses which means integration of games has already demonstrated higher engagement. This increased motivation towards online education especially among younger students, making them truly fall in love with learning.

Online education to get the undivided attention

In formal education setup too, as per the latest article in TOI, there has been 8 Fold increase in the Online Degree courses options, which has gone up from 50 such courses in July 2020, now stand two 375 online options available at 40+ Universities in India itself, under the UGC ( Online courses ) Regulation 2018.

In 2020, UGC listed over 37 Course programs to be offered via Online education through seven Indian Universities. As per Easebuzz, a Pune-based fintech firm that is into Digital collections and Financial Management Solutions, have managed transaction around INR 270 Crores in Online fee payments of educational institutes with FeesBuzz.

Easebuzz to Aid Educational Institute in Online Fees Management

The firm is a leading “Digital Collection Platform” that offers a smart Online Fees Management System to help educational institutes manage school fee collection, auto-generate receipts, send reminders, track and report fee payment status, etc. It is an online fee collection solution with smart form builder integrated with the Easebuzz Payment gateway enabling students and parents to pay fees online. The product is known by the name, FeesBuzz reduces 90% of the manual reconciliation effort in fees collection.

“We have been diligently working towards solving the problem of Online education fee management for Educational Institutions and Universities, while the sector is going Offline to Online. With a solution like Feesbuzz, an exclusive value-added SaaS product built on the layer of payment gateway helps educational institutes manage school fee collection, auto-generate receipts, send reminders, track and report fee payment status, etc.” says Rohit Katyal, Group Head Sales of Easebuzz.