A child's education cost is never an expense. it is an investment that earns high returns going forward in terms of career opportunities and growth. However, the education costs are increasing substantially therefore, it is important to plan for your child's education well in advance and start investing, so that the goals can be achieved. If you want your child to study abroad, become a doctor or engineer, pursue a management course at a recognized institute, the costs can be staggering to say the least.
Think about a scenario 10 to 15 years later, when your child will need to access the amount. Will it be at today's rates? Of course not, it will be at the rate prevailing then. Now consider how education costs have increased over the past 10 to 15 years and try to imagine how much higher they will be when your child needs to take admission. It’s scary, isn't it?
Start your child’s education planning today, so you don’t face such scary situations when you plan for your child’s higher education.