Paving The Way For Your Child's Future

Education costs are rising rapidly and would be a substantial amount by the time your kid is 18 years. Planning early is key, says Anagh Pal

- Anagh Pal

The first day of college will be one of the most memorable days of your child’s life. But as a parent you will obviously not want to worry about how to fund the expense. In a worst-case scenario, your child may not be able to take up a course of their choice owing to lack of funds.

Education costs are rising rapidly and estimates indicate that at 10 per cent it is higher than general inflation. Under these conditions an engineering degree that costs ₹10 lakh today could cost you over ₹40 lakh 15 years from now, and a MBA course that costs ₹20 lakh today could cost over ₹80 lakh. And this would be just the course fees.