Very nice article here. I think we can also plan better for the kids if we predict the future cost of education which is going to be highly expensive. I tried using this tool called Aviva Educost and it really showed me how much you need to save considering the inflation rate and other important factors like career choices and colleges. Also the child age at the time of saving matters. The earlier you save the better it is. What do you think?
Plan B: When your child starts graduation, take an education loan and ask them to repay once they get job. Simple...you will be teaching how to be responsible to your kid...
Re: Education Loan
by Sridhar Uravakonda on Jul 19, 2010 06:21 PM
Of course I forgot. For my 4 year old son to start his school, it seems I need to shell out Rs. 1 lakh as donation and Rs. 26K per annum just for school fee.
Hmmm. Some planning is required...but I agree with one of the comments below that we don't have to be too nervous about it...i.e. to maintain 2 separate accounts etc...it is an overkill I think...
This much planning and tension can give us heart attack.. Simple...earn to give your children good education. Dont worry much, become a good caretaker dont try to become master in planning.
Re: CHILD EDUCATION CORPUS
by suppandi on Jul 19, 2010 06:08 PM
invest 50% in Equity Mutual funds like HDFC equity, HDFC top 200 (only thro SIP 2-5K per month)
