“…Interestingly, households not only forego their consumption expenditure to provide education for their wards, rather they have also expressed their willingness to borrow money to provide for this purpose (Tsui & Rich, 2002; Yueh, 2006). We also find many studies (Bhattacharya, 2012; Ghosh & Bray, 2020; Gill, 2017a, 2017b; Pallegedara & Kumara, 2020; Tilak, 1996, 2002, 2021; Tripathi, 2019) that have examined the various components (e.g., course fee, books, stationery, uniform, food, transportation, private coaching, etc.) of household spending on education, and established that course fee in private schools is a substantial segment in this context.…”