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Best Student Loans In India

Best Student Loans In India

Did you know?  The education loan market in India has seen significant growth over the past decade. As of 2024, the market is valued at approximately INR 1.2 lakh crore (USD 16 billion). The Compound Annual Growth Rate (CAGR) for education loans in India has been around 12% over the last five years.  Interesting, right? But, why?  In India, education isn't just a pathway to personal growth—it's a ticket to success and a better future. With prestigious institutions and competitive programs, the demand for quality education is sky-high. However, this excellence comes at a price. Higher education costs have been steadily rising at 10% or more, making it challenging for many families to afford without financial assistance. That's where student loans come into play, bridging the gap between your dreams and reality.  This blog aims to guide you in selecting the best student loan options available in India. Whether you're aiming for an engineering degree, a medical seat, or an international MBA, This page will provide you with insights and tips to ensure you make an informed choice. Let's dive in and find the perfect loan to fuel your educational journey!  What is a student loan?  A student loan is financial aid specifically for education expenses. It covers tuition, books, and living costs. In India, banks and financial institutions offer these loans. The interest rates for student loans in India range from 8% to 15%. As of 2023, over 3.5 lakh students avail student loans annually.  The loan amount depends on the course and institution. For studies in India, the maximum loan amount is ₹10-15 lakhs. For international studies, it can go up to ₹80 lakhs or more.  Repayment usually starts after the course completion. There is a moratorium period, typically 6 months to a year. During this period, repayment is not required. Student loans can be secured or unsecured. Secured loans need collateral, while unsecured loans do not.  Student loans are a crucial tool to make higher education accessible. They ensure that financial constraints don't hinder your educational goals.  Types of student loans available in India  Secured vs. Unsecured Loans  Secured loans require collateral, such as property or fixed deposits. They usually offer lower interest rates and higher loan amounts. Unsecured loans don't need collateral but may have higher interest rates and lower loan limits. Both types have their advantages, and the choice depends on your financial situation and risk tolerance.  Feature Secured Loans Unsecured Loans Collateral Required Not required Interest Rates Lower (6%-12%) Higher (10%-15%) Eligibility Criteria Stricter due to collateral requirement More lenient Approval Time Longer due to collateral verification Quicker Secured vs. Unsecured Loans  Government vs. Private Loans  Government loans are offered by public sector banks and come with subsidized interest rates. They often have favorable terms, especially for economically weaker sections. Private loans are provided by private banks and financial institutions. They offer more flexibility but may have higher interest rates. The choice between the two depends on your eligibility and specific needs.  Feature Government Loans Private Loans Provider Public sector banks and government schemes Private banks and financial institutions Interest Rates Lower and subsidized Higher, varies by lender Flexibility Less flexible, strict criteria More flexible, varied criteria Subsidies/Benefits Often available for economically weaker sections Sometimes offered Processing Time Generally, longer Usually faster Government vs. Private Loans  Key student loan features  Loan Amount and Coverage  Student loans in India can range from ₹1 lakh to ₹1 Cr or above, depending on the course and institution. Coverage may include tuition fees, accommodation, living expenses, books, travel cost, and supplies.  Tuition Fees: The primary component of student loans is tuition fees, which can be up to 100% of the total course cost. This ensures you can focus on your studies without financial worry.  Accommodation and Living Expenses: Loans also cover accommodation costs, whether on-campus or off-campus. Living expenses like food, travel, and daily necessities are included, often up to ₹1-2 lakhs per year.  Books and Supplies: Books, study materials, and essential supplies are covered under student loans. This can amount to ₹50,000 to ₹1 lakh per year, depending on the course requirements.  .  Interest rates Interest rates for student loans in India range from 8% to 15%. The rate depends on the lender, loan type, and borrower’s credit profile Fixed vs. Variable Rates  Fixed rates remain constant throughout the loan tenure, providing predictability in repayments. Variable rates fluctuate with market conditions, which can be beneficial or risky depending on economic factors.  FeatureFixed Interest Rate Variable Interest RateInterest Rate StabilityInterest rate remains constant throughout the loan termInterest rate fluctuates based on an underlying benchmark or indexLoan PaymentsPredictable and consistentVary based on interest rate changesFlexibilityLess flexible if borrower wants to change terms or exit the loan earlyMore flexible, but with greater risk of rate changesInitial RateGenerally higher than variable ratesOften lower than fixed rates, especially for introductory periodsRiskLower risk due to predictable paymentsHigher risk due to potential rate changesLoan TermsAvailable for various terms, from 6 months to 10 yearsTypically available for shorter terms, such as 5/1 or 7/1 ARMsForecastingEasier to forecast cash flow due to predictable paymentsMore challenging to forecast cash flow due to changing ratesAttractive FeaturesPredictable payments, flexibility in loan termsAttractive introductory rates, lower initial ratesDisadvantagesHistorically more expensive over the life of the loanGreater risk of rate changes, potentially higher total cost Subsidized vs. Unsubsidized Interest  Subsidized loans have the government paying the interest during the study period. Unsubsidized loans require the borrower to pay all the interest, even during the study period.  FeatureSubsidized LoansUnsubsidized LoansInterest PaymentGovernment pays interest while borrower is in school, during the 6-month grace period, and during deferment periodsBorrower is responsible for paying interest from the time the loan is disbursedEligibilityAvailable to undergraduate students who demonstrate financial needAvailable to both undergraduate and graduate students, regardless of financial needInterest RateFixed rate of 4.99% for undergraduate students, disbursed between July 1, 2022 and June 30, 2023Fixed rate of 4.99% for undergraduate students, disbursed between July 1, 2022 and June 30, 2023; 6.54% for graduate studentsRiskLower risk due to government-paid interestHigher risk due to borrower responsibility for interest paymentsForecastingEasier to forecast cash flow due to predictable interest paymentsMore challenging to forecast cash flow due to changing interest ratesFlexibilityLess flexible if borrower wants to change terms or exit the loan earlyMore flexible, but with greater risk of rate changes Repayment Terms and Options  Repayment typically starts after the course completion, with a moratorium period of 6-12 months. Options include standard EMIs, step-up EMIs, or flexible repayment schedules based on the borrower’s income.  Grace Period  Grace period The grace period is a post-study duration during which repayment is not required, usually 6-12 months. This allows graduates time to secure a job before starting repayments.  Loan Tenure  Loan tenure can vary from 5 to 15 years, depending on the loan amount and repayment capacity. Longer tenures reduce EMI amounts but increase total interest paid.  EMI (Equated Monthly Installment) Options EMI options include standard fixed EMIs, where the amount remains constant. Some lenders offer step-up EMIs, which start low and increase over time, matching the borrower’s growing income.  Eligibility criteria for student loans in India Eligibility criteria for student loans in India typically include factors such as admission to recognized courses, Indian citizenship, and specific age limits. Financial institutions assess applicants based on academic performance, course accreditation, and co-applicant guarantees. Basic eligibility requirements for students Students must be Indian citizens to qualify for student loans in India. Additionally, they should have a strong academic record and a clear career plan.  Age Limits:  Most lenders require students to be between 18 and 35 years old. This range ensures the borrower is mature enough to manage the loan and its repayment.  Academic Qualifications:  Applicants must have completed their higher secondary education (12th grade). They should also have a consistent academic record with no gaps in their education.  Admission to Recognized Institutions: Students must have secured admission to recognized institutions in India or abroad. This includes universities, colleges, and professional courses approved by the relevant authorities.  Co-applicant Requirements:  A co-applicant, usually a parent or guardian, is mandatory for most student loans. The co-applicant shares responsibility for loan repayment, adding an additional layer of security for the lender.  Role of Parents/Guardians:   Parents or guardians often act as co-applicants, providing financial backing. Their involvement is crucial, especially for securing higher loan amounts or better terms.  Financial Stability and Credit History of Co-applicant:  The co-applicant’s financial stability and credit history significantly impact loan approval. A good credit score (typically 700 or above) and stable income increase the chances of loan approval and better interest rates.  Comparing the best banks for student loans in India  Here’s a comparison of student loans offered by some of the top banks in India.  Bank/Institution Interest Rate* Loan Amount Repayment Tenure Processing Fee Collateral Requirement Moratorium Period State Bank of India (SBI) 7.50% - 10.75% Up to ₹1.5 crore Up to 15 years Up to ₹10,000 Required for loans above ₹7.5 lakh Course duration + 1 year HDFC Bank 9.55% - 13.25% Up to ₹40 lakh (can be higher for premier institutes) Up to 15 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 1 year ICICI Bank 10.25% - 11.75% Up to ₹1 crore Up to 10 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 6 months Axis Bank 10.50% - 13.00% Up to ₹75 lakh Up to 15 years Up to 1.5% of loan amount Required for loans above ₹4 lakh Course duration + 1 year Punjab National Bank (PNB) 8.75% - 10.50% Up to ₹1 crore Up to 15 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 1 year Bank of Baroda 7.85% - 10.25% Up to ₹1 crore Up to 15 years Nil for loans up to ₹4 lakh, otherwise up to 1% Required for loans above ₹7.5 lakh Course duration + 1 year Canara Bank 8.75% - 10.50% Up to ₹40 lakh (can be higher for premier institutes) Up to 15 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 1 year Avanse Financial Services 11.75% - 16.00% Up to ₹1 crore Up to 12 years Up to 1% of loan amount Required based on loan amount and institute Course duration + 6 months Credila (HDFC Credila Financial Services) 11.85% - 13.75% Up to ₹1 crore Up to 10 years Up to 1.5% of loan amount Required based on loan amount and institute Course duration + 1 year InCred Education Loan 11.75% - 14.00% Up to ₹1 crore Up to 15 years Up to 1% of loan amount Required based on loan amount and institute Course duration + 6 months  *The interest rates are subject to change and may vary based on the profile of the borrower, co-applicant, and the institution/course of study.  How to apply for an education loan in India  Here are simple steps you can use to apply for a student loan -  Research and Compare Loan Options: Evaluate various banks and loan schemes for the best interest rates and terms.  Documents Required for Student Loan: Gather necessary documents like admission proof, income proof, identity, and address verification.  Fill Out the Loan Application Form: Complete the application form accurately with all required details.  Submit the Application and Documents to the Bank/ loan provider: Provide the filled form and documents to the chosen bank.  Loan Processing and Approval: The bank reviews the application and verifies the documents.  Disbursement of the Loan Amount: Upon approval, the bank disburses the loan amount directly to the institution or as per agreed terms.  How to apply for an education loan in India  Choosing the right student loan can greatly impact your financial well-being. Here are some tips to help you make an informed decision:  Compare Interest Rates and Total Cost: Look beyond just the interest rate; consider the total cost of the loan over its tenure.  Check for Hidden Charges and Fees: Be aware of any processing fees, prepayment penalties, or other hidden charges that may affect the overall cost.  Understand Repayment Terms and Flexibility: Ensure you understand the repayment schedule, EMI amount, and any flexibility in repayment options.  Consider the Reputation and Customer Service of the Lender: Choose a lender with a good reputation for customer service and transparent policies.  Evaluate Additional Benefits: Look for loans that offer additional benefits like interest subsidies for certain categories of students or moratorium periods post-course completion for job search or further studies. These benefits can significantly reduce your financial burden in the long run.  Benefits of choosing EduFund for your student loan  Although we’ve talked about how you can choose the best student loan in India, let us give you a shortcut to that – EduFund!  Book a FREE consultation Here’s what we can offer you!  Loan Features What EduFund Offers Competitive Interest Rates EduFund offers competitive interest rates starting from 5.5%. No Processing Fees No processing fees, ensuring you save on upfront costs. Flexible Repayment Options Customizable repayment plans based on your financial situation. Quick and Easy Application Process Streamlined application process for faster loan approval. Pre-Approved Loan Offers Pre-approved loan offers based on your eligibility. Expert Loan Advisors Access to expert loan advisors for guidance and support. Online Account Management Convenient online account management for loan tracking. Additional Benefits Additional benefits like interest subsidies and tax benefits.  Choosing the right student loan is pivotal for a successful academic journey. With careful research, comparison, and consideration of factors like interest rates, repayment terms, and lender benefits, you can make an informed decision.  
All About Child Education Investment Plans in 2024

All About Child Education Investment Plans in 2024

What are child education investment plans? What is the best investment plan for your child’s education? When should you start investing for your children? Let’s explore all the facts in this blog.  A child education investment plan is a plan to systematically invest for your child’s higher education. The costs of education are skyrocketing. A recent twitter post by a father in Delhi showed how the playschool fees for his son’s one year of schooling was nearly ₹4,30,000!   Inflation in the education sector is nearly 10-11%. More than the average retail inflation in our country. From school to college fees to living expenses related to education are increasing faster than our average salaries. Thus, the need for a child education investment plan that can help parents tackle this cost is tremendous. A child education investment plan includes a series of investments that you can consider in order to save for your child’s education.  These investment options and plans can help you easily save for your child’s college and school fees. Without compromising your current savings or limiting your expenses, you can start investing in these plans with a minimal cost and eventually increase your investments as your child grows and your salary maximizes. Let’s look at some child education investment plans and the various investments within its gambit.  Best Investment Plan for Child Education in India in 2024  What is the best investment plan for child education? What asset should you choose for your child’s higher education savings? Which asset can help you keep up with the growing education costs in India? The answer is simple and highly convenient – it is Mutual Funds.   Mutual Fund is the best investment asset for saving for higher education. Mutual funds have historically given returns of 10-12% over a long horizon. Successfully keeping pace with education inflation rate which is at 10%. Mutual funds are affordable, you can start investing with just ₹100 monthly and increase your investments systematically.   The greatest benefit of Mutual funds is that they are managed by professional fund managers. At minimal cost, you have experts watching your portfolio and making the necessary adjustments to ensure your money grows at the intended pace. Mutual funds’ transparency over costs and its investment strategies is another major benefit. Here are some mutual funds that you can consider you are planning to invest for child education and their college needs.  Sr. No. Scheme Name Category Sub-Category Inception Date AUM Expense Ratio 1Y Return 3Y Return 5Y Return 1. Nippon India Small Cap Fund Equity Small Cap 1/1/2013 43,816 0.67% 59.3% 42.60% 31.57% 2. HDFC Mid-Cap Opportunities Fund Equity Mid Cap 1/1/2013 56,033 0.80% 53.99% 33.89% 25.41% 3. SBI Contra Fund Equity Contra 1/1/2013 21,482 0.69% 45.69% 33.46% 26.70% 4. HDFC Balanced Advantage Fund Hybrid Dynamic Asset Allocation 1/1/2013 73,349 0.80% 38.43% 27.55% 19.72% 5. DSP Nifty 50 Equal Weight Index Fund Equity Index (Large) 10/27/2017 1,004 0.40% 33.31% 23.64% 18.89%  Note: All are Direct plan and growth option; AUM and Expense ratios are as on December 31, 2023; 3Y/5Y returns are annualized and as on January 30, 2024.   Source: Value Research  Note: Mutual fund investments are subject to market risk, please read all scheme related documents before investing. Past performance is not indicative of future results. This is not an investment recommendation.  Fund Details  Fund Details Nippon India Small Cap Fund:  This fund is being managed by Mr. Samir Rachh (Since January 2017) and Mr. Tejas Sheth (Since February 2023) who is an assistant fund manager.  The fund has provided 27.07% of return since inception and it has outperformed the category over the last 1/3/5/7/10 years.  It has delivered the highest returns in the category over the last 7 and 10 years and has been in the top 3 over the 3 and 5-year period.  The fund has delivered the best risk-adjusted returns over the last three years, depicted by the highest Sharpe ratio.   HDFC Mid Cap Opportunities Fund:  This fund is being managed by Mr. Chirag Setalvad who has been the head of equities since June 25, 2007, and Mr. Dhruv Muchhal who is an Equity Analyst and Fund manager for Overseas investment.  HDFC Mid Cap Opportunities Fund is the largest fund in the mid-cap space with an AUM of Rs. 56,033 crores and is the only fund in the category to have an AUM of more than Rs. 50,000 crores.   The fund has provided a 21.76% return since inception and has outperformed its category and the mid-cap index in all the time horizons of 1/3/5/7/10 years.  The fund has delivered better returns per unit of risk depicted by the lower standard deviation and the beta compared with the category average.   SBI Contra Fund:  The fund has been in existence for approximately 25 years and has been managed by Mr. Dinesh Balachandran since May 2018 who has 17 years of rich experience in this field.  This fund has provided a whooping return of 19.59% since its inception date and has outperformed its benchmark S&P BSE 500 TRI in all the time horizon.   The fund follows a contrarian strategy while investing in equity and provides exposure to companies of all sizes.   The fund has delivered the best risk-adjusted returns in the category, as depicted by the highest Mean Return, Sharpe Ratio, Sortino Ratio and Alpha.   HDFC Balanced Advantage Fund:  HDFC Balanced Advantage Fund is one of the oldest funds in India and is the largest fund in the balanced advantage category, with an AUM of Rs. 73,349 crores.  The fund has been the top performer in the category for over 1/3/5 years and has delivered an impressive return of 16.04% since inception.   Although the fund has been volatile more than the category, it has delivered a significantly higher alpha of 10.34% compared to the category average of 1.35% over three years.     This fund has been managed by Mr. Srinivasan Ramamurthy, Mr. Gopal Agarwal, Mr. Anil Bamboli, Mr. Arun Agarwal, and Mr. Nirman Morakhia.  DSP Nifty 50 Equal Weight Index Fund:  This fund is being managed by Mr. Anil Ghelani (since July 2019) and Mr. Dipesh Shah (since November 2020).  This fund tracks the Nifty 50 Equal Weight TRI, allowing us to have exposure to large-cap equities where the probability for alpha generation is very low.   Compared with Nifty 50 TRI, Nifty 50 Equal Weight Index TRI has delivered better returns with lower volatility over a long-term period from June 2000 to April 2023.   The fund delivered an alpha of 3.75% whereas the other funds in the category struggled to outperform the benchmark over the last three years.   Important Note: These mutual funds are not our recommendations. Please consult your financial advisor before investing money in mutual funds.  Benefits of Child Education Investment Plan  The cost of education is rising rapidly, making it crucial to plan and invest early for your child's future. Tuition and fees increased more than 2,200% from 1970 to 2020. Meanwhile, inflation was around 600%. Here are 7 benefits of child education investment plan:  Beat Inflation: Education costs are outpacing inflation. By starting early, you allow your investments to grow and counter the rising costs of universities, colleges, or specialized programs.  Peace of Mind: Knowing you have a dedicated fund for your child's education reduces financial stress and allows you to focus on other aspects of their upbringing.  Power of Compounding: Starting early allows you to leverage the power of compound interest. Even small regular investments can grow significantly over time, thanks to interest earned on interest.  Flexibility: Many child education plans offer flexible payout options. The corpus can be used for various education-related expenses, including tuition fees, accommodation, or study materials.  Discipline & Habit Building: Regular contributions inculcate financial discipline in you and teach your child the value of saving for long-term goals.  Freedom of Choice: A well-funded education plan empowers your child to pursue their desired educational path without limitations due to financial constraints. This could mean attending a dream university, pursuing a specific program abroad, or taking on internships without financial worries.  Secures Your Child's Future: Investing in your child's education is an investment in their future. A good education opens doors to better career opportunities, financial stability, and a brighter future.  Best Investment Options for Child Education   Best Investment Options for Child Education   Let’s look at some of the best investment options for child education available to parents in 2024.  Education Savings Plan   Education savings plans are investment plans that allow you to save for your child’s education costs. Some plans are incentivized and may offer tax benefits such as Sukanya Samriddhi Yojana in India offers tax exemptions under section 80C of the Income Tax Act of 1961. Some are extremely affordable with minimal investments starting at ₹100 or 1000. Let’s cover some education savings plan that you can utilize.   Sukanya Samriddhi Yojana  It is a unique child investment plan for parents of a girl child. This is offered by the Indian government to encourage parents to save and invest in their daughters early on. The main objective of the SSY program is to encourage parents to make substantial financial commitments to a strategy for their daughters’ future education and marriage.   Parents who have girls under the age of ten can invest in the SSY program. The SSY program investment is locked in for 21 years post-account opening. Investments made in SSY accounts are eligible for tax deductions under Section 80C of the Income Tax Act of 1961. Each year, a minimum investment of ₹250 must be made, and a maximum investment of ₹1,50,000 may be made. SSY accounts can be opened and utilized at any location of an accredited bank or the India Post Office.   529 Plans  529 plans are a powerful tool for US residents to save for a child's future education.  529 plans are tax-advantaged investment accounts. They are designed specifically to encourage saving for education expenses.    The beauty of 529 Plans is that contributions to a 529 plan grow tax-free federally.  This means all earnings on your investments compound without being reduced by taxes, maximizing your potential returns. Similarly, withdrawals from a 529 plan are completely tax-free at the federal level if the earnings are used for qualified education expenses.  Some states also offer additional state tax benefits.   Contributions to a 529 plan can be made by anyone, not just the account owner. This allows grandparents, relatives, or friends to contribute towards a child's education. This plan is not available for Indian citizens and only open for American citizens.   Coverdell ESAs  Coverdell ESAs are another tax-advantaged investment account option in the US for saving towards a child's education. The contributions are not tax-deductible federally, but earnings within the account grow tax-free if used for qualified education expenses. The annual contribution limit for a Coverdell ESA is capped at $2,000 per beneficiary per year.  Coverdell ESA funds can be used for a wider range of qualified K-12 expenses like tuition, fees, tutoring, and even some educational materials. You can open a single Coverdell ESA for multiple beneficiaries if they meet the eligibility criteria.   This investment option is not for Indian citizens.   Tax benefits and withdrawal rules   Tax benefits as well as withdrawal rules depend on the type of education savings plans you have chosen.   Some plans offer tax deductions for contributions, reducing your taxable income.   Investment earnings within the plan typically grow tax-free.  In the case of 529 Plans and Coverdell ESA, withdrawals used for education expenses are usually tax-free. Under Sukanya Samriddhi Yojana Scheme, the girl child can make an early withdrawal of up to 50% of the balance in the account at the age of 18 years before the maximum maturity tenure of 21 years. However, this amount can only be withdrawn for her higher studies or marriage.   Important Note: It's crucial to research the specific plan you're considering understanding its contribution limits, investment options, tax implications, and withdrawal rules.  Mutual Funds  As mentioned earlier, mutual funds are a game-changer. They are the best investment asset in India to save for your child’s education needs. The ease of investing in mutual funds, transparency, affordability as well as the tax benefits may them an amazing investment tool for your long-term goals such as your child’s college savings.   When saving for your child's education through mutual funds, you need to consider the investment horizon (timeframe until the funds are needed) and your risk tolerance. Here's a breakdown of suitable mutual funds and how they differ:  Types of Mutual Funds for Education Savings:  Equity Mutual Funds: Invest primarily in company stocks. They offer the potential for higher long-term returns but come with higher risk due to market fluctuations. Suitable for: Long-term investment horizons (10+ years). Investors who are comfortable with market volatility. Within Equity Mutual Funds, you have a special fund category called ELSS (Equity Linked Saving Scheme). They tax deductions under Section 80C of the Income Tax Act, 1961 and have a lock-in period of 3 years.  Debt Mutual Funds: Invest in fixed-income securities like bonds and government securities. They offer lower risk and predictable returns, but growth potential is limited. Suitable for: Shorter investment horizons (5-10 years). Risk-averse investors seeking capital preservation.  Balanced Funds: A mix of equity and debt funds, offering a balance between risk and return. They can be a good middle ground, but returns may be lower than pure equity funds. Suitable for: Moderate investment horizons (7-12 years). Investors seeking a balance between growth and stability.  Equity vs Debt Mutual Funds: What’s Better?  Category Equity Mutual Funds Debt Mutual Funds Investment Type Company Stocks Fixed Income Securities Risk  High Risk Low Risk Expected Returns Higher in the long run Lower as compared to Equity Management Costs Lower Higher  Investment Horizon Suitable for long term goals Suitable for long & short-term goals  Mutual Funds via SIPs (Systematic Investment Plan)  A Systematic Investment Plan (SIP) allows you to invest a fixed amount in a mutual fund at regular intervals (monthly, quarterly, etc.). SIPs allow you to invest in the long run without breaking the bank. SIPs offer several benefits for education savings:  Rupee-Cost Averaging: Invests a fixed amount regardless of the market value, potentially buying more units when the price is low and fewer units when the price is high, averaging out the cost per unit over time.  Discipline and Habit Building: Encourages regular saving and instills financial discipline.  Compounding: Allows returns to be reinvested, leading to faster growth over time.  Flexibility: You can start with a small amount and gradually increase it as your income grows.  Convenience: Automates the investment process, making it easier to stay on track with your savings goals.  Fixed Deposits and Savings Account  Fixed deposits and savings accounts are traditional savings options, but how do they stack up for child education savings? Here's a detailed breakdown:  Child-Specific Fixed Deposits   Child-specified fixed deposits offered by some banks; these FDs cater specifically to children. For instance, Punjab National Bank offers the PNB Balika Shiksha Scheme for girls enrolled in government schools. The interest rates for fixed deposits for children are similar to regular FDs. There is a lock in your investment for a fixed term (typically ranging from 1 to 10 years). In case of early withdrawal, penalties may incur.  The biggest advantage is the returns are guaranteed by the bank, making them a safe investment option. These investments provide a sense of security knowing the principal amount is protected. These fixed deposits are ideal for education needs within 5 years where principal preservation is of utmost importance.   The drawbacks are that the interest rates on FDs are generally lower than inflation, resulting in potential loss of purchasing power over time. There are other instrument options that offer better returns. The locked-in period for a fixed term limits access to funds before maturity.  Savings Accounts  Savings accounts are another investment option for parents to save funds for their children. The interest rates are generally between 3 to 4%, there is no lock-in period, some banks require you to maintain minimal funds for operating the account otherwise there may be a penalty. These savings accounts have no risk involved and your child’s savings are protected till they decide to withdraw them. There is no maximum investment; you can invest based on your needs.   Savings accounts can be opened on behalf of the minor, that is your child, and the guardian can operate the account on the behalf of the child.   Interest Rates and Tax Implications   Interest Rates: FD interest rates vary depending on the bank, chosen term length, and prevailing market conditions.  Tax Implications: Interest earned on FDs is generally taxable as per income tax slabs. However, some tax benefits may be available for specific FD schemes. It's important to consult with a tax advisor about the latest regulations.  Stocks and Bonds  Stocks and bonds are fundamental investment tools that can be utilized for your child's education savings plan. Let's explore them in detail:  Stocks   Investing in stocks on your child’s behalf is also a good option. Stocks can potentially beat inflation and are a great source of investment for long-term goals such as college fees. Individual stocks offer the possibility of significant returns over extended periods (10+ years). Owning shares in well-performing companies can significantly grow your capital.  Do not that the stock market is inherently volatile. Individual stock prices can fluctuate significantly, leading to potential losses. A single stock option can be expensive or affordable depending on the company. The price can range from ₹10 to ₹1,00,000. Selecting individual stocks requires in-depth research on company financials, industry trends, and market conditions. Understanding the risks involved is crucial.  Importance of Diversification   Diversification is the key to a good child education investment plan. Every investment advisor would tell you to never put all your eggs in one basket! Diversification helps in minimizing risk. It allows you to spread your investments across various companies and sectors to avoid being overly reliant on the performance of a single stock.   Bonds    Bonds are issued by governments and corporations when they want to raise money. It is a debt security and a safer investment option than stocks. Bond returns are generally lower than stocks, especially over the long term. Bonds provide predictable income streams, making them suitable for investors seeking stability and capital preservation.  Insurance Plans  In India, there are different kinds of insurance plans to protect your child’s future. Insurance plans are a good backup plan that gives you peace of mind.   Child Education Insurance Policies  A child education insurance plan is designed for parents to secure their child's future education. Parents have to pay a certain amount of premium and they will receive a certain maturity benefit for the child's higher education.   In case of the unfortunate passing away of the policyholder (parent), the insurance company provides a lump sum payout. This financial cushion ensures the child's education expenses can still be met. The investment horizon is typically 15-25 years. Upon maturity, the policy pays out a lump sum amount that can be used for the child's education. Some plans may also offer regular payouts to help manage education expenses throughout the child's education journey.  Benefits of Combining Insurance and Investment:  Peace of Mind: Provides financial security for the child's education even in unforeseen circumstances.  Disciplined Saving: Regular premium payments instill financial discipline and help accumulate funds over time.  Potential Tax Benefits: Premiums paid towards child education plans may be eligible for tax deductions under Section 80C of the Income Tax Act (subject to change).  Key Features to Look for in a Child Education Insurance Plan  Sum Assured:  This is the guaranteed death benefit paid by the insurer in case of the policyholder's demise. Choose an amount that would adequately cover future education costs.  Maturity Benefit: Consider the future education costs and choose a plan that offers a sufficient payout to cover them.  Premium Payment Term: Select a premium payment term that aligns with your financial situation. Some plans offer flexible payment options.  Claim Settlement Ratio: Research the insurance company's claim settlement ratio to understand their track record of honoring claims.  Policy Riders:  Consider adding optional riders like waiver of premium rider, which ensures premium payments are waived if the policyholder becomes disabled.   Gold and Real Estate   Gold and real estate investing are some of the oldest and most beloved ways to invest for your child’s education in India. Let’s see why these are a great addition to the child education investment plan.  Investing in gold as a hedge against inflation   Gold is often perceived as a natural hedge against inflation. Its price has shown some tendency to rise alongside inflation. Gold can be relatively easy to buy and sell. Gold is a highly liquid asset; you can even use gold for taking on loans to meet your immediate financial needs. Various investment options exist, including physical gold, gold ETFs, and digital gold.  Like any investment, gold prices can be volatile in the short term. Consider a long-term investment horizon to benefit from potential price appreciation.  Real estate investments for long-term gains   Real estate is a great way to invest for your long-term goals. Real estate can offer significant capital appreciation over the long term, especially in growing locations. Additionally, rental income can provide a steady income stream. You can use your properties are collateral for taking different kinds of loans which makes it a good asset for rainy times.   However, investing in real estate is not easy. Real estate requires a significant upfront investment, which might not be feasible for everyone. Real estate is a relatively illiquid asset. Selling property can take time and involve additional costs.  Risks and returns associated with these investments  Gold and real estate are not typically high-risk investments. Historically, both investments have shown appreciation over the long-term horizon. Both investments do require high capital for your investment to appreciate at the same pace as inflation. They both act as a hedge for inflation.  Both gold and real estate come with their own set of risks and require research before investing. Consider your financial situation, investment goals, and risk tolerance when deciding if these options are suitable for your child's education savings plan.  Need help investing for your child’s education needs? Connect with our experts to get a personalized child education investment plan to secure your child’s future today! 
DSP Banking & PSU Debt Fund 

DSP Banking & PSU Debt Fund 

One of the largest AMCs in India, DSP has been helping investors make sound investment decisions responsibly and unemotionally for over 25 years. DSP is backed by the DSP Group, an almost 160-year-old Indian financial giant.  The family behind DSP has been very influential in the growth and professionalization of capital markets and the money management business in India over the last one-and-a-half centuries. Let us talk about their – DSP Banking & PSU Debt Fund.  About the DSP Banking & PSU Debt Fund  Investment Objective: The primary investment objective of the scheme is to seek to generate income and capital appreciation by primarily investing in a portfolio of high-quality debt and money market securities that are issued by banks and public sector entities/undertakings.  However, there is no assurance that the investment objective of the scheme will be realized.   Asset Allocation Pattern  This fund allocates 80% - 100% in money market and debt securities issued by banks and public sector undertakings, public financial institutions and Municipal Bonds.  It also allocates up to 20% in Government securities, other debt and money market securities including instruments/ securities issued by non-banking financial companies (NBFCs).    Portfolio Composition  The portfolio holds 95.68% in debts and 4.32% in cash & cash equivalent. The fund invests in high quality debt securities of banks & public sector companies.  Note: Data as of 30th April. 2024. Source: Value Research  Top 5 Holdings of DSP Banking & PSU Debt Fund  Name Instrument Weightage % HDFC Bank Ltd SR US004 Debenture 7.65 25/05/2033 Debenture  6.67 National Bank for Financing Infrastructure and Development SR NABFID.43 Debenture 16/06/2033 Debenture 6.63 Small Industries Devp. Bank of India Ltd SR IV Bonds 7.79 19/04/2027 Bonds 5.43 State Bank of India SR I Debenture 7.81 02/11/2038 Debenture 4.82 Indian Railway Finance Corporation Ltd SERIES 129 Debenture 8.45 04/12/2028 Debenture 4.27 Note: Data as of 30th April. 2024. Source: Value Research Performance   DSP Banking & PSU Debt Fund CRISIL 10 years Gilt Index  CAGR (%) CAGR (%) 1 Year 6.89 6.23 3 Years  5.22 3.7 5 Years 7.00 6.04 Since Inception 7.92 6.67 Note: Data as of 30th April, 2024. Source: Value ResearchThe fund was launched on 14th Sept. 2013.  Fund Manager  Shantanu Godambe has been managing this fund since June 2023. He has 16 years of rich experience in this field.   Karan Mundhra has been managing this fund since July 2023. He has total 16 years of experience in this field.  Who Should Invest in DSP Banking & PSU Debt Fund?  Consider this fund if you  Are a relatively new debt market investor.  Are willing & able to remain invested for at least 3 years.   Diversify your portfolio of FDs.  Start Investing for your Child's Education! Why Invest in this Fund?  It earns potentially stable & consistent investment income.  The fund manages high quality portfolio.  It is a credible alternative to a single 3-year bank FD.  Active management by managers can aid in generating alpha over FDs.  Time Horizon  One should look at investing for a duration of at least 3 years.   Investment through Systematic Investment Plan (SIP) may help in tackling the volatility of the broader equity market.  Conclusion  The DSP Banking & PSU Debt Fund is a good option for those who are new to debt market and wants to invest in an alternative to FDs . The fund has consistently outperformed its benchmark in since inception.   Disclaimer: This is not recommendation advice. All information in this blog is for educational purposes only. 
Tata Nifty 50 Index Fund 

Tata Nifty 50 Index Fund 

Tata Asset Management Private Limited (TAMPL) manages investments of Tata Mutual Fund. TATA is one of the pioneers of the Indian Mutual Fund Industry. With an average AUM of almost Rs 1.5 Lakh crore, the AMC is among the oldest in the country. It has a track record of 30 years in investment management.   Let us get to know about – Tata Nifty 50 Index Fund.  About Tata India Consumer Fund  Investment Objective – It is an open-ended equity scheme tracking Nifty 50 Index. The investment objective of the scheme is to reflect/mirror the market returns with a minimum tracking error. However, the scheme does not assure or guarantee any returns.    Investment Philosophy The scheme is a passively managed index fund which will employ an investment approach designed to track the performance of Nifty 50 Index.   The scheme seeks to invest in securities constituting the Nifty 50 Index in same proportion as in the index. It will invest at least 95% of its total assets in the securities comprising the underlying index.  The scheme may also invest in money market instruments to meet the liquidity and expense requirements.  Portfolio Composition  The portfolio comprises 99.86% allocation in Equity and the remaining 0.14% is held in cash and cash equivalents.   Top 5 Holdings for Tata Nifty 50 Index Fund   Name Sector Weightage % HDFC Bank Financial 11.46 Reliance Ind Energy & Utilities 9.95 ICICI Bank Financial 8.10 Infosys Technology 5.08 Larsen & Toubro Industrials 4.26 Note: Data as of 30th April, 2024. Source: Value Research  Performance Since Inception  Period Tata Nifty 50 Index Fund return (Annualised) (%) Benchmark (%) 1 Year 25.87 26.27 3 Years  16.61 16.92 5 Years 14.95 15.30 Since Inception 13.53 13.85 Note: Data as of 30th April, 2024 Benchmark: Nifty 50 TRI, Inception date: 25th February, 2003 Source: tatamutualfund.com  Start Investing for your Child's Education! Fund Manager The fund is managed by Mr. Sonam Udasi and Mr. Kapil Menon. Mrr Sonam Udasi is backed with 25 years of his expertise in Equities Research is presently the Senior Fund Manager for multiple equity schemes at Tata Asset Management, since 1st April, 2016. He has joined TATA Asset Management Pvt. Ltd. As Head of Research in April 2014   Who Should Invest in Tata Nifty 50 Index Fund?  This fund is suitable for Investors  Who are seeking Long Term Capital Appreciation.  Who would like to invest in passively managed fund investing in a diversified portfolio of well-known companies as represented by Nifty 50 Index.  Ideal Time to Stay Invested   A minimum investment period here is 3 to 5 years.   Conclusion  Index funds can be a prudent investment option given the limited possibility of alpha generation in the large cap sector. If your investment horizon is long and want to participate in India’s growth story by investing in well-diversified portfolio of well-known large cap companies comprising the index you can consider looking at this fund.  Disclaimer: This is not recommendation advice. All information in this blog is for educational purposes only. 
Top Affordable Universities in Ireland

Top Affordable Universities in Ireland

Dreaming of studying abroad in the land of rolling hills, charming villages, and rich history? Ireland might be the perfect destination for you, and it doesn't have to break the bank! While Ireland boasts world-class universities, the good news is several affordable options offer excellent education without a hefty price tag. Why Ireland? Ireland is a fantastic choice for international students for several reasons: Thriving Education System: Irish universities are known for their rigorous academics and strong research focus. Many rank highly in global rankings. English Speaking Country: No need to worry about a language barrier! Studying in Ireland allows you to hone your English language skills while pursuing your degree. Welcoming Culture: The Irish are renowned for their warmth and hospitality. You'll feel right at home in this friendly and vibrant country. Centralized Location: Ireland's location in Europe makes it a perfect base for exploring the continent during breaks. Affordability: Public vs. Private Generally, public universities in Ireland are more affordable for international students compared to private institutions. Public universities receive government funding, keeping tuition fees lower. Here's a breakdown: Public Universities: Average tuition fees range from €9,850 to €25,000 per year. Private Colleges: Fees can vary significantly but often start higher than public universities. Top Affordable Universities in Ireland Now, let's delve into some of the top universities in Ireland that are easy on the wallet: Dublin City University (DCU): Located in Dublin, DCU offers a wide range of undergraduate and postgraduate programs in various fields, including business, engineering, and humanities. They are known for their focus on innovation and entrepreneurship. National College of Ireland (NCI): Situated in Dublin, NCI is a state-aided college with a reputation for affordable fees and high-quality education. They offer programs in business, computing, and healthcare, among others. Maynooth University: Located outside Dublin, Maynooth University is known for its beautiful campus and strong academic programs in arts, humanities, and science. They consistently rank among the most affordable universities in Ireland. Technological University Dublin (TU Dublin): Formed by the merger of two institutes of technology, TU Dublin offers a unique blend of academic and vocational programs. Their focus on practical skills makes them a great choice for career-oriented students. Griffith College: While a private institution, Griffith College offers competitive tuition fees compared to other private colleges. With campuses in Dublin, Cork, and Limerick, they provide a diverse range of programs in business, law, and hospitality. Beyond Tuition: Cost of Living Remember, tuition fees are just one part of the equation. Here are some additional factors to consider when budgeting for studying in Ireland: Accommodation: On-campus housing is often the most affordable option. Explore shared apartments or homestays for more budget-friendly alternatives. Food: Self-catering is a cost-effective way to manage your food expenses. Explore local markets and grocery stores for affordable options. Transportation: Public transportation in Ireland is efficient and relatively affordable. Student travel cards offer discounts. Tips for Saving Money Here are some ways to make your study abroad experience in Ireland more affordable: Scholarships and Grants: Research scholarships and grants offered by the Irish government, universities, and external organizations. Part-time Jobs: International students can legally work part-time to supplement their income. Check visa restrictions for work permit requirements. Student Discounts: Many businesses and attractions offer student discounts. Take advantage of these deals to save money. Also Read: How to finance your foreign education? Conclusion Studying in Ireland doesn't have to be a financial burden. With its range of affordable universities, a focus on value for money, and a relatively low cost of living, Ireland offers an excellent opportunity to gain a top-notch education without breaking the bank. So, start planning your Emerald Isle adventure – an enriching and affordable educational experience awaits!
Decoding the Sanction Letter for an Education Loan

Decoding the Sanction Letter for an Education Loan

The wait is over! You've persevered through the application process, and your dedication has paid off. You're holding the key to unlocking your educational dreams - the education loan sanction letter. This official document from your lender confirms their approval for your loan, and it's a significant milestone on your academic journey. But what exactly does this letter entail, and what are the next steps? This blog will guide you through understanding your education loan sanction letter and navigating the path towards utilizing it effectively. What is a Sanction Letter? The education loan sanction letter is a formal agreement outlining the critical details of your loan. Here's a breakdown of the key information you'll find: Loan Amount: This is the total sum approved by the lender to finance your education. Interest Rate: This determines the cost of borrowing the loan, expressed as a percentage of the principal amount. It's crucial to understand if it's a fixed or floating rate. Loan Tenure: This refers to the total period you have to repay the loan, typically ranging from 5 to 10 years after a moratorium period (explained later). Margin/Down Payment: Some lenders may require a certain percentage of the total cost to be paid upfront by you or your co-applicant. Repayment Schedule: This specifies the amount and frequency of your loan installments. It could be monthly, quarterly, or as per the lender's terms. Guarantor Details (if applicable): If required, the letter will mention the guarantor's name who acts as a financial backup in case of repayment defaults. Disbursement Process: This outlines the steps and conditions for receiving the loan amount. It might be directly deposited into the institution's account or credited to your account. Terms and Conditions: This section details the entire agreement, including prepayment charges, late payment penalties, and other crucial aspects. Read this thoroughly and understand all the implications. Also Read: Is collateral important for an education loan? Beyond the Basics: Important Considerations Review and Acceptance: Carefully review the sanction letter to ensure all details, like the loan amount, interest rate, and tenure, match your application and expectations. If there are any discrepancies, contact your lender for clarification before accepting the terms. Documentation Completion: You might need to submit additional documents, such as college fee receipts or visa confirmation, to fulfill the disbursement conditions. Ensure you have these documents in order to avoid delays. Compare and Explore: While the sanction letter signifies approval, it might not be the final word. It's wise to compare offers from other lenders and see if you can secure a better interest rate or more favorable terms. Financial Planning: The loan amount might not cover all your expenses. Factor in living costs, books, and other miscellaneous fees. Create a realistic budget to manage your finances effectively during your studies. Utilizing Your Education Loan Wisely An education loan is an investment in your future. Here's how to make the most of it: Spend Wisely: Disbursed funds should be strictly used for educational purposes - tuition fees, accommodation, books, and other essential study-related costs. Avoid unnecessary or extravagant spending. Scholarship and Grants: Explore scholarship opportunities and grants that can ease your financial burden. Reducing your loan amount translates to lower repayment pressure in the long run. Part-time Work (if allowed): Depending on your study schedule and visa regulations, consider taking on part-time work to manage your living expenses and potentially reduce your loan dependence. Looking Ahead: Repayment Strategies Understand the Repayment Process: Familiarize yourself with the repayment schedule and ensure timely payments to avoid late fees and maintain a good credit score. Start Early: While a moratorium period (a grace period before repayment starts) exists, consider making small, interest-only payments during this time to reduce the overall loan burden. Post-Graduation Planning: Develop a solid post-graduation plan to secure a well-paying job that allows you to comfortably manage your loan repayments. Conclusion The education loan sanction letter is a stepping stone towards achieving your academic goals. By understanding its contents, planning your finances meticulously, and utilizing the funds responsibly, you can turn this loan into an investment that propels you towards a successful future. Remember, knowledge is power, so don't hesitate to seek clarification from your lender or a financial advisor if you have any doubts. With careful planning and hard work, you can transform this loan into a springboard for a bright future.
Age Limit for Education Loans in India

Age Limit for Education Loans in India

Did you know education loans sector saw a record 20.6% surge in April-Oct last year? The demand for education loans in India is rapidly rising; more and more students in India are opting for this financial tool to advance in their careers and pursue their dreams. But there is a host of misconceptions around education loans, confusion around age limit for education loans is one of the most basic misconception we have encountered. Let's address this query in this blog and help Indian students understand education loans as a product so they can maximise it! The Minimum Age for Borrowing Generally, the minimum age to apply for an education loan in India is 16. Indian students can opt for education loans after school for their undergraduate, postgraduate, and professional studies. Also Read: How to get an education loan for Engineering? The Upper Age Limit: Understanding the Nuances There's often more ambiguity around the upper age limit. While some banks might not explicitly mention a maximum age, they often set a criterion where the borrower's age plus the loan repayment tenure should not exceed a certain limit. This is because banks assess the borrower's repayment capacity, and with age comes considerations like retirement. Here's a realistic range to consider: 16 to 35 years: This range is commonly applied by many banks. It offers a reasonable window for students to complete their education and establish themselves professionally before significant loan repayments begin. Variations beyond 35 years: Some banks may extend the upper limit based on specific loan schemes or the co-applicant's profile. For instance, an employed parent with a strong financial standing might improve the eligibility of a student applicant above 35. Exceptions and Considerations Property-backed loans: If you are securing your education loan with collateral like property, some banks might raise the upper age limit. This additional security can mitigate the risk associated with a longer repayment period. Government schemes: Specific government scholarship programs or loan schemes designed for underprivileged sections might have different age limitations. It's crucial to check the program guidelines. Planning for a Smooth Application: Start Early: Research loan options and eligibility criteria well in advance. If you fall outside the typical age range, explore alternative lenders or government schemes that better suit your situation. Strong Academics: A good academic record strengthens your loan application and can sometimes influence the lender's decision, especially for borderline cases. Co-applicant Advantage: Having a co-applicant with a stable income source, typically a parent or guardian, significantly bolsters your application. Their financial standing improves the bank's confidence in timely loan repayment. Collateral Advantage: Having a collateral attached to your loan application can increase your chances of getting an education loan. A collateral is secuity that tells the lender that you are a safe bet! Explore Alternatives: If you don't meet the age criteria or face loan application hurdles, consider scholarship opportunities, education grants, or part-time work options to partially finance your education. Also Read: Education Expenses Covered by Education Loans Remember: Age is just one factor considered by lenders. A strong academic profile, a co-applicant with a healthy income, and a well-structured loan repayment plan can significantly improve your chances of securing an education loan even if you are nearing the upper age limit. While age is a part of the education loan eligibility puzzle, it's not the only piece. By understanding the nuances, exploring options, and planning strategically, you can increase your chances of securing the financial support you need to achieve your academic goals. Don't let age become a barrier on your path to success. Must Read: Avoid these Common Mistakes in your Education Loan Process! FAQs Can I get an education loan at the age of 40? There is no specific upper age limit for education loans. The eligibility criteria differ from bank to bank and lender to lender. Your eligibility is determined by a host of factors, such as your academic record, borrowing capacity, repayment capacity, co-applicant and personal credit history, and more. Who is eligible for an educational loan? Students and working professionals looking to advance their careers are eligible for an education loan. Eligibility for an education loan is an academic record, credit history, co-applicant profile, work experience, age, intended course and university, and much more! What is the age limit for loans in India? The minimum age limit for education loans in India is 16 years. There is no upper limit. Can I get 45 lakh education loan? Yes, it is possible to get an education loan for ₹40 lakhs without any collateral. The amount is determined by the
UTI Dynamic Bond Fund 

UTI Dynamic Bond Fund 

UTI is one of the pioneers of the Indian Mutual Fund Industry. With a total AUM Rs 15.56 lakh crore the AMC is among the most trusted names in the mutual fund space. The UTI Mutual Fund offers products across asset classes.   Let us talk about the – UTI Dynamic Bond Fund.  About UTI Dynamic Bond Fund  Investment objective – The scheme's primary objective is to generate optimal returns with adequate liquidity through active management of the portfolio, by investing in debt and money market instruments across duration.   Note: There is no assurance or guarantee that the investment objective of the scheme would be achieved.   Investment Process   The Fund aims to earn accrual income by investing its assets in debt instruments. It follows tactical allocation to invest among corporate debt, government securities (G-Sec), guided by the fixed income strategy of the fund manager.  Source: UTI MF  Portfolio Composition  Currently the dynamic bond fund allocation comprises 89.63% in debt fund and 10.36% in cash & cash equivalents.   Top 5 Holdings for UTI Dynamic Bond Fund  Name Sector  % GOI Sec 7.10 08/04/2034 GOI Securities 41.88 GOI Sec 7.18 24/07/2037 GOI Securities 21.80 GOI Sec 7.37 23/10/2028  GOI Securities 8.82 GOI Sec 7.18 14/08/2033 GOI Securities 8.75 Power Finance Corporation Ltd SR 223 Debenture 7.64 22/02/2033 Debenture 4.40 Note: Data as of 30th April. 2024. Source: Value Research  Start Investing for your Child's Education Performance Since Inception  Period UTI Dynamic Bond Fund (%) CRISIL Dynamic Bond A-III Index (%) CRISIL 10 Year Gilt Index (%) 1 year 6.17 6.37 6.24 3 years 9.85 4.99 3.70 5 years 6.90 7.42 6.04 Since Inception 7.70 7.86 6.22  Note: Fund performance since launch; Inception Date – 16th June.2010 to 30th April 2024. Returns are of direct plan.  Source: UTI MF  Fund Manager  The fund is managed by Mr. Sudhir Agarwal holds who holds a degree of M.com, PGDBA(Finance) and CFA charter from The CFA Institute, USA.  He is Executive Vice President and Fund Manager – Fixed Income at UTI AMC Ltd. He joined UTI AMC in 2009 after 4 years of experience. He has been managing this scheme since December 2021 and has previously worked with CARE (Credit Analysis and Research Ltd.), Transparent Value LLC and Tata Asset Management Company Ltd in different roles.  He is fund manager managing various debt schemes.   Who Should Invest?  Investors looking to capitalize on interest rate movement along with reasonable returns and adequate liquidity.   Investors seeking to do asset allocation across various asset classes.   Investors who want to build their medium-term debt portfolio in an uncertain environment.  Investors having a moderate risk appetite with short term investment horizon can explore this fund.  Why Invest?  The fund dynamically manages duration by investing across the yield curve in response to the change in market environment.   It maintains a diversified portfolio of bonds, debentures and government securities.   It seeks to invest across different maturities and credit ratings to optimize returns with commensurate risk.   The fund intends to maintain adequate liquidity through active management of the portfolio.  Time Horizon  Investors with a time horizon of one to three years may consider this fund.   Investment through Systematic Investment Plan (SIP) may help in tackling the volatility of the broader equity market.  Conclusion  UTI Dynamic Bond Fund has provided consistent higher annualised return than category average for the past 1 Year, 3 Years and 5 Years. The fund is having moderate risk so investors can explore this as an alternative to traditional instruments like fixed deposits for long term capital appreciation.  Disclaimer: This is not recommendation advice. All information in this blog is for educational purposes only. 
Difference Between Nursery and Kindergarten in India

Difference Between Nursery and Kindergarten in India

If you are a new parent, you have probably heard the words Nursey and Kindergarten. In fact, admissions for nursery are so competitive in India, especially Delhi that most parents start planning it before their child is even born. Let's understand the difference between nursery and kindergarten in India. Why it's vital for your early development, and when should your child start going to school? Early childhood education plays a crucial role in laying the foundation for a child's future development and academic success. In India, nursery and kindergarten are two common terms used to describe the early stages of schooling for young children. While they may seem similar, there are significant differences between the two that parents should be aware of when considering their child's educational journey. Nursery School: The First Step in Early Education Nursery school, also known as pre-primary or preschool, typically caters to children between the ages of 2 to 4 years old. It serves as the introductory stage of formal education, focusing on fostering social, emotional, and cognitive development through play-based activities and structured learning experiences. Nursery schools provide a nurturing environment where children can explore, interact with peers, and develop essential skills such as language, communication, and fine motor skills. Curriculum and Activities in Nursery School The curriculum in nursery school is designed to be age-appropriate and developmentally relevant, focusing on foundational concepts such as colors, shapes, numbers, and letters. Activities may include storytelling, art and craft, music and movement, sensory play, and outdoor play, aimed at stimulating curiosity, creativity, and imagination in young learners. The emphasis is on providing a holistic learning experience that promotes overall growth and development in a safe and supportive environment. Kindergarten: Building Upon the Foundations Kindergarten, often referred to as KG or Lower Kindergarten (LKG), is the next stage in early education and typically caters to children between the ages of 4 to 6 years old. It builds upon the foundational skills developed in nursery school and introduces more structured learning experiences focused on academic readiness and preparation for formal schooling. The kindergarten curriculum emphasizes language development, numeracy skills, social studies, and basic science concepts, laying the groundwork for future academic success. Curriculum and Activities in Kindergarten The curriculum in kindergarten is more structured and curriculum-driven compared to nursery school, with a greater emphasis on academic skills and readiness for primary education. Activities may include language and literacy development, mathematical concepts, science experiments, social studies projects, and hands-on learning experiences. Kindergarten teachers use a variety of teaching strategies, including group activities, individualized instruction, and learning centers, to cater to the diverse needs and learning styles of young learners. Key Differences Between Nursery and Kindergarten Age Group: Nursery school typically caters to children aged 2 to 4 years old, while kindergarten serves children aged 4 to 6 years old. Focus: Nursery school focuses on fostering social, emotional, and cognitive development through play-based activities, while kindergarten emphasizes academic readiness and preparation for formal schooling. Curriculum: Nursery school curriculum is more exploratory and play-based, whereas kindergarten curriculum is more structured and curriculum-driven, focusing on academic skills and concepts. Activities: Nursery school activities are centered around exploration, creativity, and social interaction, while kindergarten activities include more academic-focused learning experiences and skill development. Conclusion In conclusion, understanding the differences between nursery and kindergarten is essential for parents seeking the best early education options for their children in India. While nursery school provides a nurturing environment for social and emotional development through play-based activities, kindergarten builds upon these foundations and prepares children for formal schooling with a more structured and academic-focused curriculum. By recognizing these distinctions, parents can make informed decisions about their children's early education journey, setting them on a path to success in school and beyond. Join our robust WhatsApp Community that helps parents invest!
Cost of Studying in IIMs: Calculating IIM Study Expenses!

Cost of Studying in IIMs: Calculating IIM Study Expenses!

Before enrolling at an IIM, students need to know about the cost of studying in IIMs beforehand to take appropriate steps to arrange the college fees. As education inflation has reached its peak, the cost of educational expenses is also on the higher side. What are IIMs? The Indian Institutes of Management, commonly referred to as IIM, is a public business school owned by the central government of India. The IIMs offer several study courses like MBA Executive, doctoral, postgraduate, and undergraduate, as well as business administration-related additional courses.  The flagship program of IIM is the MBA or Master of Business Administration program, which is offered as a one-year global MBA program or a two-year Postgraduate Program in Management (PGP).  Create Education Goal to Study in IIM Average Cost of Studying in IIMs There are several IIMs in India, the prominent three being IIM Ahmedabad, IIM Bangalore, and IIM Calcutta also referred to as IIM-A, IIM-B, and IIM-C, respectively. The MBA fee structure of all the IIMs varies between INR 16 Lakh and INR 27 Lakh.  The IIM MBA fees for the top three institutes are the highest and range between INR 24 Lakhs and INR 27 Lakhs, and for newly opened institutes, the fee varies between INR 16 Lakhs to INR 19 Lakhs.  There is a distinct difference between the fee structure of older and newly built IIMs because the new IIMs are financially backed by the government, unlike the older ones, which bear the maintenance and other expenses by themselves. Components of MBA Fees: IIM Fee Structure The IIM fee structure includes Tuition fees Traveling expenses Boarding fees Personal expenses Library fees Cost of Eating in the Mess  Internet expenses Cost of books and course materials Computer/laptop cost Study tours Alum activity Miscellaneous expenses Students can pay the total fees at one go or opt for a semester-wise payment schedule, whichever they find comfortable. Cost of studying in Top 10 IIMs IIM CampusTotal Tuition FeesIIM AhmedabadINR 24.61 lakhIIM BangaloreINR 24.50 lakhIIM CalcuttaINR 25.00 lakhIIM LucknowINR 20.70 lakhIIM KozhikodeINR 20.50 lakhIIM RaipurINR 16.10 lakh (excluding boarding fees)IIM UdaipurINR 19.00 lakhIIM RohtakINR 17.60 lakhVisakhapatnamINR 17.58 lakhIIM TrichyINR 19.5 lakh An overview of the top 3 IIMs  1. IIM Ahmedabad  IIM Ahmedabad is the country's most popular and most expensive IIM, offering Business & Management Studies. The institute offers several facilities like a hostel, library, cafeteria, labs, gym, music room, wi-fi campus, auditorium, medical facilities, sports complex, and a/c classroom.  The total tuition fee structure for the different courses is. CourseTotal Tuition FeesDurationMBA/PGDM (3 courses – 50 seats)INR 12 lakh - INR 24.61 lakhFor 16 months – 2 yearsExecutive MBA/PGDM (1 course – 140 seats)INR 31.5 Lakh 1 yearMMS (1 course)INR 20 lakh2 yearsCertificate (2 courses – 60 seats)INR 1.57 lakh4 – 6 months 2. IIM Bangalore Established in 1973 with NIRF ranking two and a 100-acre campus area, the IIM fee structure covers fees for personal accident insurance and medical insurance besides the regular fee structure offered by almost all the IIMs. Statistics of Bangalore placement 2022 show that 137 companies visited the campus and made 662 offers. The median and average package offered was INR 31.20 lakh per annum and INR 33.82 lakh per annum, respectively. CourseTotal Tuition FeesDurationMBA/PGDM (4 courses – 635 seats)INR 12.5 - INR 24.5 lakh1 year – 2 yearsCertificate (79 courses)INR 65 k – INR 17.75 lakh2 days – 15 monthsExecutive MBA/PGDM (1 course – 75 seats)INR 23 lakh1-year 3. IIM Calcutta IIM Calcutta ranked 3rd under the NIRF rankings and was the first to be established under IIM legacy. According to the available statistics for 2022, the placement percentage of the institute last year was 100%, as 190+ companies visited the campus, and 631 offers were made to the students.  CourseTotal Tuition FeesDurationMBA/PGDM (3 courses)INR 23.2 lakh – INR 25 lakh2 yearsExecutive MBA/PGDM (2 courses)INR 13.5 lakh to 31 lakh1 yearCertificate (35 courses)INR 2.5 lakh – 12.89 lakh6 months – 1 year Balance the Books by Comparing the Cost of IIMs! An elite collection of management schools in India known as the Indian Institutes of Management (IIMs) are renowned for their demanding academic curricula and superior management education. In India, there are 20 IIMs, each with special qualities and advantages. Here are the IIMs available in India: IIMLocationAnnual Fee for PGP (Latest Available)IIM AhmedabadAhmedabad, GujaratApproximately INR 30 lakhsIIM BangaloreBangalore, KarnatakaApproximately INR 24 lakhsIIM CalcuttaKolkata, West BengalApproximately INR 31 lakhsIIM LucknowLucknow, Uttar PradeshApproximately INR 19 lakhsIIM KozhikodeKozhikode, KeralaApproximately INR 19.5 lakhsIIM IndoreIndore, Madhya PradeshApproximately INR 20 lakhsIIM ShillongShillong, MeghalayaApproximately INR 14.3 lakhsIIM RohtakRohtak, HaryanaApproximately INR 16.9 lakhsIIM RanchiRanchi, JharkhandApproximately INR 16.3 lakhsIIM TrichyTiruchirappalli, Tamil NaduApproximately INR 19.5 lakhsIIM KashipurKashipur, UttarakhandApproximately INR 17.3 lakhsIIM UdaipurUdaipur, RajasthanApproximately INR 20.4 lakhsIIM RaipurRaipur, ChhattisgarhApproximately INR 16.5 lakhsIIM NagpurNagpur, MaharashtraApproximately INR 18 lakhsIIM VisakhapatnamVisakhapatnam, Andhra PradeshApproximately INR 18.2 lakhsIIM Bodh GayaBodh Gaya, BiharApproximately INR 15.5 lakhsIIM AmritsarAmritsar, PunjabApproximately INR 17 lakhsIIM SirmaurSirmaur, Himachal PradeshApproximately INR 11.75 lakhsIIM SambalpurSambalpur, OdishaApproximately INR 13 lakhsIIM JammuJammu, Jammu and KashmirApproximately INR 17 lakhs Let’s have a look at the Top 10 IIMs with their Annual Fee. Remember, IIMs often provide scholarships and financial assistance to eligible students based on various criteria, so prospective applicants are encouraged to check the most up-to-date fee structures and financial aid options on the respective IIMs' official websites. Fees for Indians and foreign Nationals at IIMs 1. IIM Ahmedabad One of India's top business schools is IIM Ahmedabad. The PGP (Post Graduate Programme) and PGP-FABM (Post Graduate Programme in Food and Agribusiness Management) are only two of the postgraduate programs it provides. The annual cost of the PGP program is around INR 30 lakhs for Indian citizens and USD 85,000 for foreign students. 2. IIM Bangalore Another esteemed IIM, IIM Bangalore is renowned for its demanding academic programs. The PGP, PGPEM (Post Graduate Programme in Enterprise Management), and PGPPM (Post Graduate Programme in Public Policy and Management) are all programs offered by the institute. The annual cost of the PGP program is around INR 24 lakhs for Indian citizens and USD 85,000 for foreign students. 3. IIM Kolkata One of the original IIMs, IIM Calcutta is well known for its management programmes. It provides a variety of management courses, including the PGDM (Post Graduate Diploma in Management). For Indian citizens and overseas students, the average yearly cost of the PGDM program is roughly INR 31 lakhs and USD 92,500, respectively. 4. IIM Lucknow The academic offerings and research initiatives of IIM Lucknow are renowned for their variety. It offers courses including PGP, WMP (Working Managers Programme), and IPMX (International Programme in Management for Executives). The yearly cost of the PGP program is around INR 19.25 lakhs (for Indian citizens) and USD 63,500 (for students from other countries). 5. Kozhikode IIM The unique programs and instructional strategies used at IIM Kozhikode are well-known. It provides the PGP, EPGP (Executive Post Graduate Programme), and PGP-BL (Post Graduate Programme in Business Leadership). The yearly cost of the PGP program is around INR 19.50 lakhs (for Indian citizens) and USD 60,000 (for students from other countries). https://www.youtube.com/shorts/SRkKqX7IQF4 6. IIM Raipur One of the most recent IIMs, IIM Raipur, is rapidly rising to prominence. It offers the Executive Fellow Programme in Management (EFPM) and PGP. For Indian nationals, the PGP program's annual cost is around INR 16.5 lakhs. 7. IIM Udaipur The picturesque campus and management programs of IIM Udaipur are well-known. The PGP and PGPX (Post Graduate Programme for Executives) are available there. For Indian nationals, the PGP program's annual cost is around INR 20.4 lakhs. 8. IIM Rohtak The IIM Rohtak is renowned for its dedication to top-notch management education. It offers the Post Graduate Programme (PGP), Integrated Programme in Management (IPM), and Executive Post Graduate Programme (EPGPX). For Indian nationals, the PGP program's annual cost is around INR 16.90 lakhs. 9. IIM Visakhapatnam IIM Visakhapatnam, one of the most recent IIMs, is expanding quickly. The PGP and FPM (Fellow Programme in Management) are available. For Indian nationals, the PGP program's annual cost is around INR 18.20 lakhs. 10. Tiruchirappalli's IIM Trichy The management programs and emphasis on research at IIM Trichy are well-known. Both the PGP and FPM are offered. For Indian nationals, the PGP program's annual cost is around INR 19.50 lakhs. Join our robust WhatsApp Community to get updates on Ed-loans! FAQs Which is the cheapest IIM? The cheapest IIM is IIM Sirmaur with its PGP course charging 11 lakhs per annum. Why IIM fee is high? IIM fees are high because their private bodies fund their institute primarily through tuition fees. They off highly popular because of their brilliant ROIs and advance programmes. The institutes offer quality education for MBA courses that are extremely sought after. It is one of the hardest universities to get admission to due to the rigorous admission process and intense competition. What are IIMs? The Indian Institutes of Management, commonly referred to as IIM, is a public business school owned by the central government of India. The IIMs offer several study courses like MBA Executive, doctoral, postgraduate, and undergraduate, as well as business administration-related additional courses
Different Types of Schools in India

Different Types of Schools in India

India, a melting pot of cultures and traditions, boasts a diverse educational landscape that caters to the varied needs and preferences of its populace. From ancient gurukuls to modern international schools, the nation's educational journey is a fascinating tapestry that reflects its rich heritage. Let's delve into the kaleidoscope of different types of schools in India, each contributing uniquely to the nation's educational ethos. Scholarships for your child's future! https://www.youtube.com/watch?v=j5uKaYCAbco&t=2s Gurukuls: Since ancient India, Gurukuls were the cradle of education. Led by revered gurus, these residential schools nurtured holistic development, emphasizing values, ethics, and skills alongside academic prowess. Today, a handful of gurukuls preserve this ancient tradition, blending it with contemporary pedagogy. Best Schools in Rajkot Government Schools: Spread across every nook and corner of the country, government schools play a pivotal role in providing accessible and affordable education. Despite challenges, they remain the backbone of India's mass education system, aiming to bridge socio-economic gaps and empower the masses. Private Schools: In the quest for quality education, private schools have emerged as beacons of excellence. Varied in curriculum, philosophy, and teaching methodologies, these institutions cater to a diverse range of students. From traditional ICSE and CBSE schools to those offering international curricula like IB, the private sector provides a spectrum of educational choices. International Schools: With the world becoming a global village, international schools have gained prominence. These institutions follow international curricula, fostering a global perspective and preparing students for global challenges. The emphasis is on experiential learning, multicultural exposure, and advanced teaching methodologies. They offer boards like IB that help students transition to foreign universities efficiently. Take a break from reading and watch this! https://www.youtube.com/shorts/wQbhsWtOPpU Boarding Schools: India has a long-standing tradition of boarding schools that provide a complete immersive experience. Nestled in scenic locations, these schools focus not only on academic excellence but also on character-building, discipline, and extracurricular activities. They create an environment where students learn life skills while pursuing academic goals. Montessori Schools: For early childhood education, Montessori schools provide a unique approach. Inspired by Maria Montessori's philosophy, these schools focus on self-directed learning, hands-on activities, and collaborative play. The emphasis is on nurturing curiosity, creativity, and independence in the formative years. Specialized Schools: Recognizing the diverse talents and needs of students, specialized schools have gained popularity. These include schools for the arts, sports academies, STEM-focused institutions, and those catering to specific learning challenges. They tailor education to individual strengths, fostering a conducive environment for specialized skill development. Why every child needs an Education Fund? India's educational landscape is a vibrant mosaic, with each type of school contributing uniquely to the nation's growth. From preserving ancient traditions to embracing global learning trends, these schools collectively shape the minds of the future. As India strides confidently into the 21st century, its diverse schools continue to play a pivotal role in sculpting a well-rounded, enlightened generation ready to face the challenges of the world. Join our robust WhatsApp Community that helps parents invest!
Importance of Family Budgeting

Importance of Family Budgeting

Families constantly juggle expenses, unexpected bills, and financial goals that can leave them feeling stressed and financially vulnerable. However, there is a powerful tool that can help us regain control and transform our relationship with money: Family Budgeting. It goes beyond just numbers; family budgeting holds the potential to not only empower our finances but also strengthen the bonds that tie our family together. https://www.youtube.com/watch?v=tdwqQH0xkFw Importance of family budgeting 1. Securing financial stability  A family budget often serves as a roadmap to financial stability and security, paving the way for a brighter future. By establishing a comprehensive budget, you gain a clear understanding of your income, expenses, and savings. This knowledge helps and empowers you in making informed decisions about ensuring that your family's needs are met while setting aside funds for emergencies, spending and saving, and future goals.  A budget acts as a safety net, providing peace of mind in cases of financial uncertainty, knowing that you have a plan in place to weather any storm that comes your way. What is the 15 * 15 * 15 Rule in Mutual Funds? Read More 2. Deciding long-term and short-term goals The process of budgeting allows you to define your financial goals as a family and work in a direction to achieve them together. Whether it's saving for a dream vacation, purchasing a new home, or planning for your children's education, a budget helps allocate funds toward these aspirations. The process of setting goals and tracking progress in stills a sense of purpose and direction within the family.  By involving the entire family in the budgeting process, everyone gains a sense of ownership and motivation to stay committed to the goals. This collaborative approach fosters a shared sense of purpose and strengthens family bonds as you work towards a common vision. https://www.youtube.com/watch?v=lyFMznQdbwo 3. Teaching your kids financial responsibility One of the greatest gifts for your children that you can give is the knowledge and skills for managing money effectively. By having their involvement in the budgeting process, you create an opportunity for them to learn valuable lessons about financial responsibility. From an early age, children can grasp the concept of budgeting and develop healthy spending habits. Also, by including them in discussions about family finances, they get a deeper understanding of the value of money and the importance of making thoughtful financial choices. This not only equips them with essential life skills but also strengthens the parent-child relationship through open and honest conversations about money. https://www.youtube.com/watch?v=sNqwEZbjEvc 4. Striving for transparency in budgeting  Family budgeting promotes open communication and transparency within the household. Regular budget meetings provide a platform for family members to discuss financial matters, voice concerns, and make joint decisions. This creates an environment of trust and cooperation, allowing everyone to contribute their ideas and suggestions. Through these discussions, you can address any financial conflicts or challenges that arise, fostering a culture of open dialogue and problem-solving. By working together as a team, you not only improve your financial situation but also build stronger bonds within the family, rooted in trust and shared decision-making. https://www.youtube.com/shorts/Zsd3-9_6H1o 5. Cultivating financial discipline Budgeting requires discipline and self-control, qualities that extend beyond financial matters. When you adhere to a budget, you cultivate discipline and develop a strong sense of accountability. These traits have a ripple effect, positively influencing other areas of life such as work, education, and personal relationships. By instilling financial discipline within your family, you impart valuable life skills that will benefit your loved ones for years to come. The process of budgeting teaches patience, delayed gratification, and responsible decision-making, equipping family members with the tools they need to navigate the complexities of the modern financial landscape. 5 Pro Tips for Creating a Child Education Fund Read More 6. Reduces stress and improves your well-being Financial concerns can be a significant source of stress within a family unit. Budgeting helps alleviate this stress by providing a sense of control and predictability. With a budget in place, you can reduce debt, plan for future expenses, and prioritize savings. As financial worries decrease, family members can focus on enjoying quality time together, strengthening their emotional bonds, and experiencing an overall improvement in well-being. The knowledge that you have a plan in place to handle financial challenges brings a sense of security and peace, enabling you to fully embrace the joys and opportunities that life has to offer. How long should you invest in SIP? Read More 7. Gives your emergency blanket  Life is unpredictable, and unexpected expenses can arise at any moment. Family budgeting allows you to prepare for these emergencies by setting aside funds in an emergency savings account. This ensures that your family is better equipped to handle financial shocks without jeopardizing your long-term goals. By having a safety net in place, you can face unforeseen circumstances with confidence, knowing that you have taken proactive measures to protect your family's financial future. This not only gives a sense of security but also strengthens the family's resilience, fostering a mindset of preparedness and adaptability in the face of challenges. Join our robust WhatsApp Community that helps parents invest! Family budgeting is more than just crunching numbers and tracking expenses. It is a transformative process that empowers your finances while nurturing strong bonds within your family. By creating a budget together, you embark on a journey of financial stability, goal achievement, and personal growth.
Why do international students pay more tuition?

Why do international students pay more tuition?

Ever wondered why international students pay more tuition than domestic students in a foreign country? In countries like UK and Canada, the tuition cost for international students is double the amount charged to domestic students.   Let’s take the example of Kings College London, UK. The current tuition fee for 2023-24 to study BA English for international students is £23,160 per year while for domestic students, it is £9,250 per year. In Indian rupees, the yearly cost would be nearly Rs. 21 lakhs for international students while for domestic students, it is Rs. 8. 34 lakhs!   This is not just the story of Kings College London, UK. Many more universities charge international students more than their domestic counterparts. Let’s explore why! Reasons why international students pay more   There are multiple reasons why international students pay more tuition fees than domestic students.  Lack of government funding or government caps like its present for the UK and European students in the United Kingdom.    International tuition fees are a major source of income for the government and foreign universities.   Education inflation refers to the rising cost of education on a yearly basis. Inflation affects the cost of education directly and has led to an increase in annual tuition fees not just at top universities in foreign countries but in government universities in India as well.   Universities are employers and a hub for research. This means that they need revenue to facilitate their yearly expenses like research, paying salaries, and maintaining the infrastructure. The revenue for these costs comes largely from tuition fees which is why international students end up paying more Are higher tuition fees problematic for international students?  Higher tuition fees can be an obstacle for many international students. International students struggle with annual fees as well as the rising costs of accommodation, travel, and daily expenses in foreign countries. Most international students depend on their parents to finance their education which means that they not only have to pay more in tuition fees but their purchasing power is less because their parents are earning in local currencies.   For instance, the fall of the rupee against the dollar has financially affected Indian students studying in the US currently. The price of living expenses has gone up due to rising inflation. How can you manage to manage higher tuition fees?  The cost of education is readily increasing and the only way to cope with it is to start saving and investing. If you are a parent and want to send your child abroad then investing in mutual funds via SIP and exploring US stocks is a great saving strategy. The benefits of both investing strategies are limitless:   A SIP in mutual funds allows you to save and invest gradually. You can start with Rs. 2000 every month or more depending upon your goal target and gradually increase the invested amount to combat the rising inflationary prices.   Investing in US dollars gives you an edge because you not only get better returns but you will be able to secure your purchasing power if your child decides to study abroad. Gaining returns in dollars and spending in dollars is better than earning in rupees and spending in dollars! Thus, investing in US stocks and funds gives you an upper hand and helps you plan a solid future for your child.   There are many more options that can help you fund your tuition fees. You can opt for an education loan, and explore scholarships and grants that can partially or fully fund your education expenses. Join our robust WhatsApp Community that helps parents invest! Knowing the cost of tuition fees and the consequent living expenses and calculating it can truly help you plan this education journey better; it will allow you to make strategic decisions and create an education corpus fit to study anywhere in the world.  
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