The double whammy of under-education and poverty is not new in developing countries. Many children have no access to school because of their family’s economic situation — some parents cannot afford to send all their children to school, while others are too poor to pay the fees required by public schools. The money sent by relatives working abroad is often the only source to provide children with an education. This article looks at how remittance and money transfer services play a vital role in the education of underprivileged children.
Impact of remittance on education
Education is one of the vital factors in determining a family’s ability to provide for their children, as well as their overall quality of life. In many underdeveloped and developing countries, including the Philippines and Indonesia, education is not free. Families must pay for school supplies and uniforms, which can be expensive. Additionally, families that rely on international bank transfers from family members abroad often use it to pay for education costs.
This money helps provide students with the tools they need to succeed in school and later on in life. Not only does it help them attend school, but it also makes it possible for them to receive more advanced degrees if they choose to pursue higher education later on in life—which can lead to higher-paying jobs and more financial stability overall.
Get reliable international money transfer services for education remittances
You can get the services of a reliable money transfer services provider for your remittance needs. They offer services like wire transfers and online bank transfers. The recipient will receive the money within a day. Avail of our international bank transfer services today.