Did you know that the cost of primary and secondary education increased by 169% due to inflation from 2005 to 2011? Or that education at a private boarding school in India can cost up to Rs. 25,000 per month? Or that a medical degree can cost (per annum) up to Rs. 10 lakhs in a government-aided college and up to 20 lakhs in a private A Course In Miracles?
These are some of the startling facts about the cost of education for your child in India. What these numbers highlight is that one of the imperatives for parents with growing children is to understand education costs and have a sound plan for their children’s education. It is critical to know how to save and how much to save.
It is absolutely crucial to realize the value of starting education planning early, as delaying can prove to be detrimental for your children’s future prospects. You need to peruse the various options and get a clear idea of your child’s education costs and plan accordingly.
Here’s a child education cost calculator to help you calculate how much your child’s education will cost. This can work brilliantly to help you come up with a sound education plan and subsequent investment plan.