In earlier 90’s the fee for children’s education was in thousands and today it’s not the same. The fee structure for children’s education is so high that it could make you worry for your child’s educational future.
Planning now for your child’s education can reduce the anxiety you will face when time comes to dish out the money. It would be your little ones dream to get educated in institutions of their choice & also pursue higher level degrees, but making sure they can afford the education is your job.
Your planning shall be all according to the following things below-
Today, the fees is near to 2 lakhs for a B.com degree, above 10 lakhs for engineering etc. 10-15 years from now the educational fee will be much more higher. Let’s have a look on some approximate costs of a few of reputed colleges.
Graduation normal courses are up to 1 lakh today which would turn up to 7 lakhs in 10 years and 15 lakhs in 20 years where as professional courses are up to 5-10 lakhs today which would turn up to 15 lakhs in 10 years and 40 lakhs in 20 years
Post-Graduate courses normally are about 2 lakhs today which would turn up to 6 lakhs in 10 years and 15 lakhs in 20 years where as professional courses are up to 1o lakhs today which will turn up to 25-30 lakhs in 10 years and 70-80 lakhs in 20 years
As seen above now you know how much time & money is required to start filing their admissions forms.
For this, now also decide how much to invest as well as where and how to invest.
For higher returns you will have to rely on investments in equities- probably via equity mutual funds.
Follow these 3 keys towards investment for securing your child’s educational future-
- Start early
- Invest regularly
- Stay invested
Let’s get Smart-
Whether you started early may be before your marriage or soon after your marriage a smart thing to do is to start a Systematic Investment Plan(S I P) in good equity mutual funds with as much as you can save from apart the savings of retirement.
Start planning today and secure your Child’s Educational future as Education is the only foundation that can build the future.
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