New Telegraph

Lender offers educational solution to parents, schools

Stanbic IBTC Holdings PLC has showcased a bouquet of educational solutions to provide support to schools, parents, guardians and students, as part of what the financial institution, said is its efforts to improve access to quality education in Nigeria.

In a press release, it said that the range of financial solutions was targeted at empowering parents and guardians to send their wards back to school with ease, while also enabling school owners to acquire attractive educational facilities that will support learning goals. According to the statement, “to ensure stress-free investments towards their wards’ education, Stanbic IBTC is offering parents and guardians a savings portfolio for young children and tertiary institution students through its Children Educational Savings Scheme (CHESS) and BlueEdge, respectively.

The CHESS account offers a higher interest rate than what is earned on regular savings account while the BluEdge Savings Account allows students to open accounts with zero balances and still earn monthly interest, thus taking away the pressure of setting up an account with huge funds. “For longer-term educational planning, Stanbic IBTC urges parents and guardians to take advantage of the Stanbic IBTC Education Trust (SET) which is designed to help them fund their children and wards’ education through a flexible and convenient plan with long-term benefits.” Commenting on the uniqueness of these solutions, Chief Executive,Stanbic IBTC Bank PLC, Wole Adeniyi, said the Stanbic IBTC back-to-school offers are geared towards making the school resumption season easier and more seamless for parents, guardians, and school owners, such that they can meet urgent financial needs at minimal costs.

“Preparation for school resumption after the Christmas festivities are usually fun, particularly for children. However, the excitement could be dampened if parents have to struggle for school fees and other mandatory payments. Stanbic IBTC knows this, and as such, developed the ‘Back to School’ educational package to help reduce the financial burden on parents and guardians,” Adeniyi said.

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