COVID-19 to cause $17 trillion future losses for students globally

MANILA, Philippines — The prolonged closure of educational institutions is seen costing the current generation of students $17 trillion across the globe.

A joint report of the World Bank, the United Nations Educational, Scientific and Cultural Organization, and the United Nations Children’s Fund revealed that the impact of the pandemic in the education sector is more severe than expected.

It is expected that the current generation of students is at risk of losing $17 trillion in lifetime earnings due to school closures. This is equivalent to 14 percent of the global economy.

The latest estimate is significantly higher than the $10 trillion in losses previously estimated, proving that the impact among the younger generation is worse than expected.

The report also said the pandemic would push more children into learning poverty especially in low and middle income countries like the Philippines. Learning poverty in many countries could reach around 70 percent from 53 percent pre-COVID.

Learning poverty is defined as being unable to read and understand a simple text by age 10.

World Bank global director for education Jaime Saavedra said schools remain closed for millions of children globally and others may never return to school.

“The loss of learning that many children are experiencing is morally unacceptable. And the potential increase of learning poverty might have a devastating impact on future productivity, earnings, and well-being for this generation of children and youth, their families, and the world’s economies,” Saavedra said.

Almost two years into COVID, the Philippines has been late in the game in terms of school reopening. In Southeast Asia alone, it is the only country that has never reopened since the pandemic.

The government is currently piloting face-to-face classes in several schools in the country.

Further, the study showed that children from low-income households, children with disabilities, and girls were less likely to access remote learning than their peers.

The World Bank said this is due to lack of accessible technologies and the availability of electricity, connectivity, and devices, as well as discrimination and gender norms.

Younger students also had less access to remote learning and were more affected by learning loss than older students, especially among pre-school age children in pivotal learning and development stages.

The study also noted that while nearly every country in the world offered remote learning opportunities for students, the quality and reach of such initiatives differed.

Last month, the Philippines scored the highest in remote learning readiness among developing economies but children from the poorest families have yet to overcome the challenges caused by distance schooling.

UNICEF earlier said children from the poorest households in the Philippines do not have access to assets necessary for remote learning, so they face higher risks of falling further behind in their education.

UNICEF director of education Robert Jenkins argued that schools must be reopened and must be kept open to stem the scars on the current generation.

To build more resilient education systems for the long-term, the report suggested that countries should invest in the enabling environment to unlock the potential of digital learning opportunities for all students.

Economies globally should also reinforce the role of parents, families, and communities in children’s learning and ensure that teachers have support and access to high-quality professional development opportunities.

It also called for the increase in the share of education in the national budget allocation of stimulus packages.