Do you feel the same way about a repeat offender? The rule was created for a reason and I don't think it's to profit off of parents. Parents like you might be the reason the private schools do so well in BR.
While in this case it may be a misunderstanding between the teacher and the student, in most cases you're not bribing the school for your property to be returned. The fee is an incentive for parents to be parents and teach their kid about responsibility.