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Investing and saving is crucial for self-employed parents as they need to be vigilant in their efforts to provide a secure financial cushion for their children. A self-employed individual is self-dependent and thus responsible for the well-being of their business.  Whatever the economic health of self-employed parents, they need to create a continuous culture of investing in the right assets for future financial stability and growth.  There are several investment options for self-employed parents that will ensure desired wealth creation and keep their financial health safe and sound. Both short-term and long-term investments are important as the former will help in asset creation or a child’s education in the early years and the latter in post-retirement or higher education of children.  Investment options for self-employed 1. Fixed deposits Fixed deposits are good investment options offered by banks, NBFCs, and post offices at minimum risk.  A fixed sum is deposited as a one-time investment for a fixed tenure at a fixed interest rate. The banks are offering a current interest rate between 5% to 7.5%.  Investors can choose a normal FD which is taxable or a tax-saving fixed deposit, which saves taxes up to 1.5 lakhs under Section 80C of the Income Tax Act 1961.  2. Mutual funds Mutual funds are one of the best investment options for self-employed parents as they are structured and professionally managed. The investor does not have to spend time on research. Instead, several investors pool their money, and the fund manager reinvests this amount in several instruments like debt, equity or liquid assets, etc. The investor has the option of investing a lump sum amount in mutual funds or starting a SIP (systematic investment plan) if they want to opt for periodic investments.  A trustworthy app like Edufund gives access to 4000+ direct mutual funds to investors. The associated financial experts, with the help of a SIP calculator and scientific fund tracker, suggest the best funds and ensure better returns in the safest possible environment. It is also possible to invest in international mutual funds through the app and receive returns in dollars.  3. Real estate Real estate is a good investment option as the value is bound to increase and yield a good return with time. Purchase the factory or office space that you are using instead of renting because it is feasible to pay EMI rather than the rent. The self-employed individual can use the property to raise capital or for mortgages when needed. The aim of investing in real estate should not just be buying property instead getting a resale value if required. Additional read: Investment strategies in Volatile market 4. Government schemes The Government of India offers safe investment options with fixed returns under some of the government schemes.  PPF – PPF or the Personal Provident Fund, is a saving scheme where the investor invests annually or monthly for 15 years. It offers fixed returns and tax benefits to the investor. PMJJBY –Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme available to investors at a low cost. NPS – The National Pension Scheme is a safe and secure post-office scheme where investors deposit a fixed amount for a fixed interval.  Sovereign gold bond schemes – This government scheme is both a safe and high earner where the investor can invest in gold without owning the gold personally.  5. Shares and equities Shares and equities are investment options for self-employed parents who are ready to take a substantial risk with their investments. It is advisable to be careful in investments and take risks only on a predetermined permissible amount. Choose the shares and equities that will yield safe and highest possible returns.  6. US stocks and ETFs Self-employed parents can invest in US stocks and ETFs from India to create wealth. The Edufund App is a reliable means to create wealth because it allows investors to choose from 1400+ US ETFs and become a part of global companies like Google, Netflix, Apple, and Amazon. The simple and transparent app also helps in fractional investing, where investors can buy top shares that will yield a higher percentage of returns in dollars at zero brokerage.  7. Commodities Commodities in financial terms refer to oil, gas, silver, gold, grains, etc. investors interested in commodities have to invest in a futuristic price of the product. As the commodity market is inversely related to the stock market, it is often used by investors as a hedge against inflation and also against stock market risk.  Conclusion Choosing the right investment options for self-employed parents at the right age is a necessity as they do not have the luxury of a pension to manage expenses during later years. A well-defined financial plan and a diversified portfolio will prove a blessing as it provides significant accessibility and flexibility to tap into the savings when needed. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Studying in Germany is not very expensive as tuition fees charged by public universities are relatively low; however, it might be difficult for international students to pay the monthly living expenses in Germany, which can be close to EUR 1200(INR 1.5 lakhs). Here are some German scholarships that can help you and your child shoulder the increasing cost of living and tuition. Top German scholarships to fund your child's college Germany is one of the few nations that offer free higher education to students from all over the world in its universities. In order to help students cover their living expenses while studying in Germany, the nation offers a variety of scholarships. Following is the list of scholarships for international students planning to study in Germany. German scholarships for bachelor courses  Following is the list of German undergraduate scholarships that you shouldn't pass up if you are planning to study in Germany after the 12th: Jacobs University Scholarship Bayer Foundation Scholarships  Kurt Hansen Science Scholarships Heinrich Boll Scholarships Master Scholarships at the University of Stuttgart Deutschland Stipendium German scholarships for master's courses  Students choose to enroll in master's programs abroad as opposed to undergraduate programs. Master's degrees let students reach their full potential. Below is the list of German scholarships for masters that you should be aware of: Jacobs University Scholarship Deutsches Krebsforschungszentrum (DKFZ)- German Cancer Research Centre PhD Scholarship  Bayer Foundation Scholarships  Hamburg University of Applied Sciences Masters Scholarship Kurt Hansen Science Scholarships  Goethe Goes Global Scholarships  WHU- Otto Beisheim School of Management, International Scholarships Masters Scholarship at the University of Stuttgart  DLD Executive MBA Scholarship  Konrad-Adenauer-Stiftung Scholarship Heinrich Boll Scholarships Deutschland Stipendium Are scholarships enough to cover the cost of education in Germany? Some scholarships normally only pay a portion of the course fee; the student is responsible for the remaining expenses. As a result, there are several expenses to consider when a student decides to travel to Germany to attend college. These include tuition fees, registration fees for higher education institutions, security deposits, travel-related projects, accommodation, meals, and even trip-related travel expenditures. You can use our College Cost Calculator to determine the precise cost of studying in Germany and help you acquire the funds you need to save for your future education. Cost of studying in Germany Students enrolled at German institutions, regardless of whether they have scholarships, must pay a semester fee or administrative charge, which typically ranges from €250 (INR 22,148) to €500 (INR 44,297), as well as other miscellaneous expenses like living expenses, which you may not be aware of and which are typically not covered by scholarships and student loans, are unavoidable.  Additionally, a lot will rely on the place you have selected to attend school in. For example, Munich, Frankfurt, and Hamburg are more costly than other, smaller cities. Here are the typical costs (indicative) you might anticipate incurring each month while attending a German university: As a parent, you must budget far in advance for all of these fees because they are not covered by scholarships or education loans. You can consider long-term stock funds, such as mutual funds. Additionally, there are specific programs for children that dynamically allocate assets between debt and equity. Because stock investments are made, returns usually outperform inflation rates and also have advantages in terms of liquidity. Starting out in financial planning can be challenging. With so many options for saving and investing, it's crucial to know which ones will enable you to reach your objectives more quickly. So don't be afraid to ask for assistance and create a reliable savings plan from an expert financial planner! We hope this blog helped you learn about scholarships in Germany to fund your child’s study-abroad dream! You can boost your chances of receiving a scholarship by raising your grades and getting involved in extracurricular activities, community service projects, and outreach initiatives. Consult an expert advisor to get the right plan TALK TO AN EXPERT

While studying abroad, Indian students or their parents would have to transfer money abroad to pay university tuition fees and maintenance costs abroad. In such a scenario, it is natural to have doubts about the RBI rules for remittances abroad in India. This post talks about the relevant RBI rules and also how much money can parents send to their kids abroad Outward Remittance comes under the Reserve Bank of India's Liberalized Remittance Scheme (LRS). The LRS specifies rules and limits regarding remittances outside India for education purposes. The maximum amount you can send abroad from India Under the Liberalized Remittance Scheme, authorized dealers can allow Remittance of up to USD 2,50,000 to resident individuals per financial year for permitted current account/capital account transactions or both. LRS Scheme does not apply to Corporations, Partnerships, Firms, Trusts, HUFs, etc. What does this mean for students? The maximum payment limit for a student (including minor students) studying/going to study abroad is $2,50,000 per financial year. This limit covers the purposes of; Education abroad Medical expenses abroad Living expenses of a student studying abroad Gift transfer The limit of USD 2,50,000 can be used in a single forex transaction or multiple forex transactions combined during a financial year. Note: If the sender is a minor, their natural guardian must sign the LRS Declaration Form (Form A2). Special circumstances where you can send more money than the maximum limit In special circumstances, you can withdraw more foreign exchange than the LRS limit of $2,50,000. 1. For the purpose of medical treatment abroad For the amount in excess of the LRS limit, authorized dealers can release foreign exchange under general permission based on the estimate of a doctor in India or a hospital/doctor abroad. 2. For the purpose of studying abroad Bank AD Category I and AD Category II may allow transfers (without prior approval of the Reserve Bank of India) over USD 2,50,000 based on estimates received from the University/Institution abroad. What does this mean for students? For overseas study and medical expenses that exceed the LRS limit, an individual may be allowed to use more foreign exchange than their US$2,50,000 limit if they provide the required documentation. Medical Expenses Abroad – Estimate from a doctor in India or a hospital/doctor abroad. Study Abroad - Estimate from university/institution for tuition fees (and/or maintenance costs). Additional read: How to fund child education in Ireland? The maximum amount of money that can be carried as cash for foreign travel Resident Indians traveling abroad from India can purchase foreign currency notes/coins only up to USD 3000 per visit. The remaining amount can be carried in the form of stored value cards, traveler's checks, or bank drafts. What does this mean for students? An Indian student going to study abroad should carry foreign money in the form of cash only up to USD 3000 (or equivalent in other currency). Cash means carrying money as notes/coins. According to today's US dollar exchange rate in India, USD 3000 is more than Rs 2,20,000. That's enough money to take care of a student's immediate expenses when moving abroad. A student's remaining forex limit ($ 2,50,000 - $ 3,000 = $ 2,47,000) can be carried on a forex card, traveler's check, or bank draft. How to transfer money abroad from India under LRS Select an RBI-authorized bank or exchange through which you want to send money abroad. Choose the one that offers the best exchange rate. The bank account from which you make the transfer should be maintained for at least one year before the transfer. In the case of a newly opened account, bank statements for the previous year, copies of the last assessed income tax order, or filed tax returns must be submitted. Send the A2 form with the reason for your payment. Submit required KYC documents A copy of the sender's passport Copy of PAN card Copy of recipient's passport (if required) Proof of relationship (if required) TALK TO AN EXPERT

Processing fees for education loans are fees charged in advance by the education loan provider to the applicant. Processing fees vary from bank to bank; it also depends on whether you are pursuing a domestic degree or opting for an international program. Most banks charge a processing fee of 1% and above on the latter What are processing fees for education loans? There are the following types of processing fees for education loans. Refundable processing fees: Some banks offer refundable processing fees. The bank tries to adjust the amount in the loan withdrawal cycle. However, you cannot apply for a refund if your application for a loan is rejected. Non- refundable processing fees: Regardless of approval or rejection, some banks charge processing fees during the education loan process. Amortized processing fees: Some financial institutions don't impose any up-front processing fees. Over the course of the loan, processing costs are added as an additional percentage on top of the annual interest rate that is offered. It follows the idea of the annual percentage rate (APR). The interest rate and processing charge amortization make up the annual performance rate (APR). There are many banks that do not charge processing fees for education loans. Additional read: Education loan process in Germany Characteristics of education loans in India Maximum Amount: The education loan amount provided can range from Rs.4 to Rs.40 lakhs. Higher amounts may be allowed on a case-by-case basis. Age Group: An education loan to study abroad can be applied by any student between the ages of 18 and 35. Course Eligibility: Education loans can be used to study a variety of fields, including science, maths, and engineering. Law, management, fashion, architecture, and arts are just a few examples of availing of education loans.  Cosigner: Since the principal borrower must not be employed, the loan needs to be co-signed by a co-applicant (it could be either a parent, sibling or other close family members). The co-loan applicant's score is considered when approving the loan. The applicant may be required to satisfy a margin of 5-15 percent. Coverage: Tuition fees, cost of books, cost of food and lodging, laboratory and library fees, travel expenses, study tour expenses, and so on are covered by education loans. Moratorium: There is a moratorium on education debt until graduation. During this time, only basic interest is charged on the borrowed amount. During this time, the applicant can only pay the interest amount. Depending on the lender's policies, the duration of the education loan can be up to 10 years, excluding the moratorium period, and up to 15 years, including the moratorium period. Tax Benefits: As per Section 80E of the Internal Revenue Code, interest paid on education loan EMI is tax deductible. Top banks for Education loans in India  State Bank of India HDFC Bank ICICI Bank Axis Bank PNB Mpower financing Prodigy Finance Avanse Conclusion Processing fees charged on education loans may vary from lender to lender. Some lenders charge a fixed amount irrespective of the education loan amount and some charge a fixed percentage on the loan amount. Before applying for an education loan, know the processing fees. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Purchasing a mutual fund is fairly simple; you can even do it quickly online! It does, however, have paperwork, just like any other financial transaction. Here is a list of documents required for mutual fund investments in India. Documents you need  The list of documents needed to invest in a mutual fund is as follows: 1. Application form For a mutual fund, you might need to submit more than one application. A mutual fund account must first be opened, a SIP plan within the fund must be chosen, and an  Electronic Clearing System (ECS) form must be completed if you want to make an electronic transfer from your bank account. Other forms, such as a Risk Profile form, may be requested by some asset management firms. 2. KYC compliance To invest in mutual funds, your PAN must be validated by the Know Your Customer (KYC) regulations of the Government of India. Through the CDSL Ventures Limited website, you may assess your KYC compliance or sign up for it (CVL). The KYC acknowledgment letter or a copy of the KYC-compliance page must be sent if you are currently KYC-compliant. If not, keep the necessary paperwork on hand: KYC individual form Passport-sized photograph 3. Proof of identity As identification documentation, any of the following is acceptable: PAN with photograph Aadhaar Passport Voter's ID card Driving license 4. Proof of address  You can provide any of the following documentation as evidence of address: Aadhaar Driving license Passport Voter's ID card Ration card Registered lease/sale agreement of residence Flat maintenance bill Insurance copy Utility bills that are less than three months old, such as a landline phone bill, an electricity bill, or a gas bill It is also appropriate to provide proof of address in the spouse's name. 5. Third-party declaration for minors  Parents may invest on their child's behalf if they are a minor. For this, a third-party declaration form must be completed. For non-individuals, such as businesses, trusts, partnership firms, Hindu United Families (HUF), etc. The following documents must also be prepared in addition to or in place of those mentioned above. Once you have the necessary paperwork on hand, you can open a mutual fund account and select a fund that matches your risk tolerance and financial objectives. 6. Canceled blank cheque Contrary to the past, there is no longer a need to provide a blank canceled check. Still, it's preferable to present a canceled check if you want to simplify your SIPs. This will provide your fund house access to your account number, MICR code, and IFSC code, as well as allow you to swiftly issue an Electronic Clearing System (ECS) to your bank. If you are investing in mutual funds online, you do not need to provide a voided check. Investing in mutual funds on EduFund App Compared to offline investment, online investing will be much faster and easier. By downloading the App, you may select a mutual fund that fits your aims. You can invest in over 4000 mutual funds and personally designed EduCases to create the corpus you need for your child’s future. When the OTP is ready, enter the necessary data and wait for it to appear on your registered cellphone number. You may then input the amount and select whether you want to invest via SIP or lump sum after that. Using your UPI ID or internet banking are your two choices for completing the transaction. This is common practice for the majority of fund companies. If you wish to invest in a couple of each fund house's programs, you must register on their websites. You can invest in a variety of mutual fund plans from several asset management firms all in one place on the  EduFund App. You can make small investments like Rs. 100, 500, or 2000 in lumpsum or SIP orders. Additionally, you may consult financial professionals through the app, who can direct you toward the best investment opportunities based on your risk tolerance and investing philosophy. Factors to consider before investing in mutual funds As you start making mutual fund investments, you must strictly monitor the following: When investing in mutual funds, you must rigorously take your risk tolerance into account. For instance, it is suggested that you start with investing in debt mutual funds since they carry less risk if you cannot afford to incur much risk with your assets. On the other hand, equities mutual funds should be your pick if you have larger risk tolerance. When investing in mutual funds, it's crucial to take your acceptable investment horizon into account. Consider investing in long-term equity funds, which produce larger returns over the long run.  If your objective is to save for your retirement level of risk appetite will directly affect the results of your mutual fund investments. It has been shown that a larger risk appetite will often result in higher returns. Since its inception, the mutual fund industry has made a concerted effort to draw in more investors. It used to be a tedious procedure to finish the paperwork for mutual fund investments, and you had to visit an AMC or RTA office to do your KYC. But all of these annoyances have been eliminated owing to the development of technology. TALK TO AN EXPERT

While many people dream of studying abroad, we are aware of the costs and difficulties involved. The cost of higher education can be significant in countries like Australia. Australian scholarships will assist in covering all or part of the tuition costs. Some scholarships additionally assist applicants with living costs and immigration fees, depending on their background and level of academic achievement. 1. Australia awards scholarship One of the top scholarships for international students is the Australia Awards Scholarship, which is managed by the Department of Foreign Affairs and Trade (DFAT) of the Australian government. This Australian scholarship provides students from developing nations in the Indo-Pacific area more power. Its main objective is to strengthen bilateral ties between Australia and its partner nations. If your child is selected for this scholarship, they will benefit from the following:  The complete cost of the chosen course's tuition is covered by this award.  It pays for travel expenses like airline tickets.  Students receive a one-time grant to help with the cost of housing and materials.  For the expense of living in Australia, they receive a bimonthly stipend or Contribution to Living Expenses (CLE).  During their time studying in Australia, they can also benefit from an Overseas Student Health Cover (OSHC). To qualify for this scholarship, all students have to do is be accepted into any graduate program offered in Australia. 2. Destination Australia scholarships The Australian Government's "Planning for Australia's Future Population" effort includes the Destination Australia program. This scholarship program's ability to admit students who are studying at Australian universities remotely is one of its special features.  Look at the advantages this Australian scholarship offers:  If your child is accepted into this esteemed program, they will have the chance to take part in leading research and skill-development initiatives that incorporate studies in a range of academic fields.  Each academic year, this award covers the equivalent of $15,000 in tuition costs for recipients.  If they have graduated from high school and are currently considering enrolling in a graduate program, they may be qualified for this grant. 3. Australian government research training program (RTP) The Australian Government Research Training Program (RTP) is amongst the top Australian scholarships to help you fund your child’s dreams. It intends to provide funding for both domestic and foreign students who want to pursue a Research Masters's or Research Doctorate in Australia.  It offers recipients several special advantages, including:  The complete award for tuition is due to students who enroll in this scholarship.  Additionally, it provides an RTP stipend that can be used to pay for housing, transportation, and other living expenses.  The RTP also includes a supplemental allowance to assist with other expenses including printing a research thesis, paying for scholarly publication, and paying for student health insurance.  If they have successfully finished their postgraduate level of higher education, they may be eligible for this award. They must, however, acknowledge the RTP program in their published research as a requirement of this scholarship. 4. John Allwright fellowship (JAF) If your child is enrolled in a postgraduate degree in any scientific field, this scholarship program is ideal for them. It primarily aims to improve the research capacities of its partner nations and gives researchers from other nations the opportunity to do research in Australia.  Here are the advantages that your child can receive if they are eligible for this scholarship:  It makes it simpler for researchers to apply for and obtain a postgraduate research degree.  Scholarships at the Master's and Ph.D. levels are available each year through this program to deserving candidates.  This fellowship, which is similarly managed by the Australian Awards, aids in covering a sizable portion of the expenditures associated with studying and living in Australia.  Your child can only be eligible for this award after completing their graduate program because it is for postgraduate study. Alternatively, they will also be given equal weight if they are a promising scientist from one of the developing nations when choosing who receives the scholarship. Additional read: 10 important reasons to study in Australia How can one win an Australian full scholarship?  For deserving overseas students, Australia offers a variety of programs, but there is also fierce competition. As a result, getting a full scholarship in Australia can be very challenging. However, there is no need for concern. The following are some things you should be aware of:  Your child should submit as many scholarship applications as they can as a student and attempt to differentiate themselves online.  Many websites might not provide accurate information or perhaps lead you astray. Find scholarship opportunities that best suit you by filtering. Some programs could require you to take tests or appear for interviews. Scholarships by Australian universities Some scholarships provided by Australian universities are as follows- Macquarie University International Scholarships University of Sydney International Research Scholarships Melbourne Research Scholarships Australian National University Scholarships Rotary Peace Fellowships University of Melbourne Graduate Research Scholarships Adelaide Global Excellence Scholarships for International students Flinders International Postgraduate Scholarships University of Newcastle Postgraduate Research Scholarships Monash University International Scholarships for Excellence Australian scholarships can help you fund your child’s college in the country. However, the competition can be fierce as Australia is considered one of the largest hotspots for international students. This is why having an education corpus to rely on or dig into, reduces the stress of higher education and its costs! Consult an expert advisor to get the right plan TALK TO AN EXPERT

The United States is one of the most popular places for students to study abroad. The majority of the world's best colleges are located in the USA. In addition to having excellent educational infrastructure, the United States is renowned for offering a wide range of scholarships to students around the world. In this blog, we have covered everything you need to know about scholarships for Indian students to study in the United States. Top scholarships for Indian students in the USA The USA provides top-notch education, but applicants must pay the required course costs in exchange. Due to the expensive tuition fees charged by colleges in the USA, many candidates decide not to study in the USA. So for that, we have compiled a comprehensive list of all the popular scholarships that enable Indian students to study in the United States to aid students in similar situations. Scholarships for MS in the USA Following is the list of scholarships for Indian students who are planning to study MS in the USA. Scholarships for MBA in the USA Following is the list of scholarships for Indian students who are planning to study MBA in the USA. Scholarships for Ph.D. in the USA Following is the list of scholarships for Indian students who are planning to study Ph.D. in the USA. Cost of studying in the USA Every student's study abroad plan must include the cost of learning at the university. An applicant must pay their living expenses in addition to the tuition. The cost of living in the USA can make studying in the country too expensive. The entire cost varies depending on the university location one chooses. Compared to metropolitan campuses, your overall cost of living will instantly decrease if your selected study location is suburban or rural. The following table displays the typical price of education in the USA. How to apply for a scholarship in the USA? If you want to apply for a scholarship in the USA, you have many options. You need to have an application or registration form to get a scholarship in the USA, along with the following documents: Letter of recommendation. Personal essay or letter of motivation Official financial documents, as well as evidence of low-income Letter of acceptance from a recognized university. Proof of all extracurricular activities, positions of leadership, academic accomplishments, etc. If you are planning to study abroad and are unsure about how to fund your study abroad you can speak with education counselors. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education costs are on the rise all over the world, and it has become vital for parents to invest and save money if they want to provide for their child’s higher education. If the child is still young and there are several years before higher education, then it is prudent to develop a long-term financial plan with some of the best US ETFs in the portfolio, as they will yield higher returns. Remember, the earlier you start, the better your odds of accumulating the desired amount. US ETFs or exchange-traded funds are an effective investment option for Indian investors as they have proved big winners. Strong economic growth and federal stimulus have helped the US ETFs to outperform and add to the bullish momentum. Best US ETFs for child's higher education plan 1. iShares Global Tech ETF Launched on 11th December 2001, the iShares Global Tech ETF tracks the results of the index that includes global equities in the computer hardware, software, and technology sectors. It has 132 holdings, among which the top names are Apple Inc, Microsoft Corporation, Nvidia Corp, Visa Inc Class A, and Taiwan Semiconductor. With net assets of $3,170,684,936 and an expense ratio of 0.43%, it is considered one of the best US ETFs for a child’s higher education. 2. Invesco S&P 500 Enhanced Value ETF Launched on 9th October 2015, Invesco S&P 500 Enhanced Value ETF tracks the investment results of the S&P 500 Enhanced Value Index. The large cap equity asset boasts an AUM of $144.8M, a 1-year high of $47.51, and an expense ratio of 0.13%. The fund has 102 holdings in the portfolio that includes companies like Berkshire Hathaway Inc, JPMorgan Chase & Co, and CVS Health Corp. 3. iShares Core S&P U.S. Value ETF Launched on 24th July 2000, the iShares Core S&P U.S. Value ETF tracks the investment results of the index that includes mid and large-cap U.S. equities. It has 743 holdings, among which the top names are Berkshire Hathaway Inc, Johnson & Johnson, Exxon Mobil Corp, and Chevron Corp. With an expense ratio of 0.04%, it is considered one of the best US ETFs in the world. 4. Vanguard Consumer Staples ETF Launched on 26th January 2004, the Vanguard Consumer Staples ETF (VDC) tracks the investment results of the index that includes large-cap U.S. equities. The ETF is focused on the U.S. consumer staples sector and includes top holdings like Procter & Gamble, Coca-Cola Company, and PepsiCo Inc. 5. SPDR S&P 400 Mid Cap Value ETF Launched on 8th November 2005, the SPDR S&P 400 Mid Cap Value ETF (MDYV) tracks the investment results of the Small-Cap core index. Top holdings include EQT Corp, First Horizon Corp, and Reliance Steel & Aluminum Co. The fund shows a net expense ratio of 0.15% and a yield of 1.93%. Additional read: ELSS funds for child's higher education Best US ETFs as of September 2022 Conclusion It is important to make the right choices while investing in your child’s higher education. Best US ETFs are well-diversified, low-fee, and tax-effective funds that are considered the smartest choice by high-profile investors.  The financial experts associated with the Edufund App help parents to invest in top-performing US ETFs from India so that they can have the necessary funds to fulfill their child’s dream education abroad. The hassle-free, transparent and simple app gives the option of choosing from 1400+ US ETFs and earning returns in dollars.  Creating wealth is no longer an impossible dream but a possibility through Edufund, and that too in a simple manner just from your phone. Consult an expert advisor to get the right plan TALK TO AN EXPERT

After a severe decrease during the pandemic's second wave, education inflation has already been rising continuously. Although inflation in the industry was 0.63% in April 2021, it soared to 4.12% a year later, as academic establishments resumed across the country. Analysts claim this will rise more in the coming months due to the return to routine post-Covid and the increased reliance on tuition. The CPI index for education has been declining since June 2020, when the country was placed under severe lockdown owing to the epidemic. While it began to rise in May 2021, the increase was not particularly steep. Education Inflation is rising In India, education inflation is gradually increasing. According to National Sample Survey data, the cost of elementary and upper primary schooling increased more dramatically, rising by 30.7% and 27.5%, respectively, between June 2014 and June 2018. Higher education saw a lower percentage growth. While graduate degree prices increased by 5.8%, PG and higher course fees increased by 13.19 %. This was a period of growing CPI inflation in education. However, almost all higher education institutions were closed for over a year in 2020, immediately following the pandemic. While some universities recalled their academics and master's students after the initial wave passed, schools did not reopen fully until 2022.  Schools did not demand any additional costs aside from tuition fees from parents when online classes were being held. Some states had also asked schools to collect only a percentage of the original costs. Students did not choose any other school-related facilities at the time. Since everything has returned to normal, inflation in this industry is expected to grow. College prices soared over 4 decades Over the last four decades, college tuition has skyrocketed. According to the National Center for Education Statistics, the yearly cost of attending a four-year college full-time in 1980 was $10,231 (including tuition, fees, room and board, and inflation adjustment). By 2019-20, the overall cost had risen to $28,775. Additional read: How to repay education loans faster? 180% increase College costs have risen across the board, but private non-profit universities are more expensive than public colleges. In 2019-20, a full-time student at a private non-profit institution paid $48,965, compared to $21,035 at a public college. Nevertheless, the trend has decreased since 2019. Based on the data from the college board, average tuition, fees, and room and board at private non-profit four-year schools fell 0.2% from 2019-20 to 2021-22. Prices fell another 1.7% between 2020-21 and 2021-22. During the same period, public four-year colleges' tuition followed a similar pattern. With this increase in college prices, the situation after 10 years will be higher with inflation added. The expected rise in tuition fees While food inflation increased by 9.62% between 2012 and 2020, school expenditures increased by 10%. College tuition fees in India have risen dramatically over the years. Below is some information on complete course fees for specific courses and how they are likely to grow in the next years, based on fee increases in previous years. Increased tuition fees in international universities Regardless of the coronavirus pandemic, several international colleges raised their tuition for 2022-2023. Tuition rates at the University of Pennsylvania will rise by 2.9%, while education at Arizona State University will increase by 5% for international students. Tuition costs for international students at all three University of Illinois campuses are expected to rise by 1.5 - 2.5% Education inflation after 10 years Inflation in education raises the expenses of students' basics, such as accommodation, food, and transportation, as well as tuition fees, making it even more essential for students to spend very little and earn however much further possible. With the overall cost of attending college increasing, students will most certainly have to take out more loans; also, these new loans will have higher interest rates than in previous years. For the 2022 - 2023 school year, the interest rate on a federal undergraduate loan has already climbed to 4.99%, up from 3.73% last year. As a result, education inflation after ten years will almost certainly be substantially higher than it is now. Watching unending tuition increase is discouraging parents & students and making them feel powerless in stopping it. However, as an informed consumer, you may make wise decisions to avoid paying more than you can afford. Conclusion  For many students, borrowing is the only means to pay for a college education. It can be tough to deal with these financial constraints in college. It is critical to have a financial plan in place to deal with inflation. FAQs What is education inflation? Education inflation is when the costs of education rise across the economy. The rate of education inflation in India is 10% which means that tuition fees and other education-related costs are What causes education inflation in India? There are several reasons that cause education inflation, such as government funding cuts, higher cost of living, tuition fees, administration costs, security, modern school infrastructure, and technological advancements. Why are tuition fees rising? The average cost of pursuing a degree in the US rose by 497 percent between 1986 and 2018. Tuition fees are rising due to high inflation, a growing demand for foreign education as well as a lack of governmental intervention, and the presence of private bodies in the education sector.

Trying to figure out the average cost of sending your child for MS to the US? The cost of studying MS in the US comes to a total of about ₹76 lakhs - 1.1 crores. The total cost of completing an MS in the United States is constituted of both tuition fees and living expenses. Overview of costs of studying MS in the US The cost of an MS in the United States for Indian students throughout the program, including expenses made in India and the United States, is detailed below: Factors/ParameterAmount (in INR)GRE₹17,000TOEFL₹15,000Applications₹70,000 - 1,20,000Other Expenses During Applications₹10,000 - 15,000VISA Fee₹13,100SEVIS Fee₹17,600Airfares (one-way)₹90,000 - 1,20,000Tuition Fee₹65,00,000 - 90,00,000Living Expenses₹9,00,000 - ₹20,00,000Total₹76 lakhs - 1.1 crores These figures were calculated using a variety of assumptions, and individual costs may change. We have just summarised a few significant costs to estimate the average cost of studying abroad, focusing on the price of an MS in the US. How to save for your child’s MS in the US Here are several financial planning techniques that parents can employ to lessen the stress and increase the productivity of their child's MS in the US. By following these guidelines, you can help your child achieve their goals while also safeguarding your long-term financial stability. 1. Think about long-term financial planning before you start An early start to planning is crucial. Plans for your child's international education should be started as soon as possible. As a parent, you may need to make some sacrifices right now, so start analyzing your spending habits and cutting back on unnecessary expenses. Regularly set aside funds for your child's education. Additionally, consider other saving and investment choices. You must account for the greater cost of living in the US and incorporate this element into your plan from the start. 2. Keep exchange rates and inflation in mind For many years, the US dollar has consistently ranked among the strongest currencies in the world, with nearly all other currencies gradually depreciating in comparison to it. You should expect that your currency will also experience this in the future. No matter when you plan to send your child to the US for education, you must factor in inflation in your country and potential currency depreciation in your budget. By taking inflation and exchange rates into account, the EduFund College Cost Calculator may assist you in determining the average total cost you will need to send your child to the US for MS. Longer periods provide you more freedom to invest in risky assets like stock, which might help you in the long term to fight off the effects of inflation and fluctuation in exchange rates. 3. Find the most suited investment options Even though your child's journey to the US won't happen for several years, you might not be able to meet all of your child's future expenses by merely setting up an education fund with your current regular pay. Future living expenses will undoubtedly rise from current levels. If you want to decrease the impact of these possibly higher costs, you need to start looking for additional sources of funding straight away that are separate from your (and your partner's) salary income. As a result, you ought to research potential medium and long-term investment options that you may start pursuing right away. Recognize your ability for risk-taking and adjust your investments accordingly. In your hunt for mutual fund-based Systematic Investment Plans (SIP), academic investments, or savings plans particularly created for your child's MS in the US, EduFund’s financial experts can help. 4. Consult a specialist before investing or studying abroad The process of getting ready for education abroad is scary to the majority of people. Even if you start early, create a budget and a costing plan, and research the various investment options, you could still feel entirely unprepared despite having an action plan and strategy in place. If you're having trouble, talking to a professional can be a smart idea. With the help of our investment advisors and study abroad specialists, you may examine your options and develop a more detailed and useful approach. You might even come across fresh options that you weren't aware of or hadn't thought of before. Conclusion The practical costs of sending your child to the US for a master's degree in science can be confusing, but with systematic planning and a realistic outlook, you and your child can both gain over time from pursuing this desired goal. EduFund’s financial experts are constantly available for any assistance or advice you need. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Studying abroad is an experience that can improve language abilities and advance job possibilities. According to a recent HSBC study, parents all over the world appear to agree with this idea.  If you’re one of those parents then this page is for you. The article below will discuss the costs of sending your child to Singapore and how to manage their expenses. How much does studying in Singapore cost? Singapore is well-known for its excellent education and upholds high levels of education and learning. Studying in Singapore is generally less expensive than in other popular overseas study destinations. Let’s discuss the various costs of higher education in detail. Cost of school education in Singapore The price of education is determined by the kind of school or university your child is enrolled in. Also, it tends to depend on when you intend to send your child to school or university. When you send children to the pre-nursery classroom (18 months of age to two years), the monthly fee can range from as low as $256.80 for a half-day program to as heavy as $1,978.60 for a half-day program at some elite institutions.  Regarding your child's primary or secondary school education, there are approximately 70 international schools to choose from. Annual fees can range from $10,000 to $15,000, with a maximum of $40,000. You may also choose to enroll your child in one of Singapore's public schools. The annual fee for foreigners ranges from $8,000 to $15,000, roughly half the cost of such an international school. College tuition fees in Singapore vary based on the university and course your child attends, as well as your nationality. Tuition fees in Singaporean schools may be higher than that in neighboring countries. Let’s discuss the cost of higher education in Singapore.  Cost of college education in Singapore  A public university typically costs between SGD$ 8,000 and SGD$ 9,000/ year. However, this is the concessionary price. Non-subsidized and non-Singaporean students pay around SGD 10,000 or more. The government also subsidizes some programs in Singaporean schools, regardless of nationality. The government of Singapore provides a substantial tuition subsidy in the form of a MOE Subsidy. It is available to any eligible students. There are broadly two types of universities in Singapore: public and international university campuses. The government primarily supports public universities. As a result, they might provide identified students admittance at a lowered tuition fee. Certain universities charge international students more than local Singaporeans. Singapore's international and foreign universities and colleges are typically costlier than public university campuses. Best Singapore Universities Read More What is the cost of tuition fees at public universities in Singapore? We are comparing the tuition fees for one year for accounting and finance programs at six public-funded universities. For 2019, all tuition fees are in Singapore dollars and include local tax. Singapore's Ministry of Education (MOE) provides tuition subsidies (Tuition Grants) to international students attending local public colleges. Under this scheme, international students will be expected to find employment in Singapore-registered major corporations for a minimum of three years after graduation. As a result, overseas students (non-MOE subsidies) must pay an average of SGD$33,000 *3 = SGD$99,000 to finish an accountancy Bachelor's degree at a public university in Singapore. Other degree programs may take longer than 4 years and may cost more. Top 6 Scholarships in Singapore Read More What is the cost of tuition fees at international and foreign universities in Singapore? The table shown below provides a more detailed breakdown of tuition fees for a few institutions that offer accounting and finance-related programs: All tuition fees are the full course program fees in Singapore dollars for 2019, inclusive of local tax. As seen above, the international student tuition fees to complete a Bachelor's degree at a foreign and overseas university in Singapore range from SGD$ 51,840 to SGD$ 115,350, based on the type of course. Tuition for a master's degree ranges between SGD$ 46,080 and SGD$ 133,884. The cost of studying in Singapore varies according to the level of education. The cost of living varies according to individual living standards, but the average monthly fee for a student could range from SGD$ 1,000 to $3,000. Numerous private institutions are also very popular. Among the top names is INSEAD, a global management school with a campus in Singapore that allures international students from all over the world. Indeed, in the last decade, the country's growing education sector and geographic advantage have persuaded many foreign universities to establish campuses there. Among the well-known institutions are the Chicago Business School and the Technische Universität München, Asia. Conclusion Singapore provides quality education at a reasonable price, resulting in greater value for money. The universities are internationally recognized, have collaborations, and are founded on innovative pedagogy. Parents wishing to send their children abroad must start financial planning early on to support their children in the best. FAQs How much does it cost to send a child to school in Singapore? The cost of school education varies based on the type of school and the grade level. It can range from around $256.80 to $1,978.60 per month for pre-nursery, and annual fees for international schools range from $10,000 to $40,000. What are the tuition fees for college education in Singapore? Tuition fees for public universities typically range from SGD$8,000 to SGD$9,000 per year for local students, with higher fees for non-subsidized and non-Singaporean students. The government provides substantial tuition subsidies through MOE Subsidies. How much does it cost to study at international and foreign universities in Singapore? Tuition fees at foreign and overseas universities in Singapore can range from SGD$51,840 to SGD$115,350 for a Bachelor's degree and from SGD$46,080 to SGD$133,884 for a Master's degree, depending on the program. What is the average cost of living for students in Singapore? The average monthly cost of living for students in Singapore can range from SGD$ 1,000 to $3,000, depending on their individual living standards and choices. What factors make studying in Singapore an attractive option for international students? Singapore offers quality education at a reasonable price, with internationally recognized universities, innovative pedagogy, and geographic advantages. Many foreign universities have established campuses in the country, making it an attractive destination for students.

If your child is planning to pursue higher studies in any professional sphere, you will have to be financially ready to shell out anywhere from Rs. 4 - 5 lakhs to Rs. 70 - 80 lakhs, depending on the course, institution, and country of study.  You also need to keep in mind that the banks will discuss the loan amount only after your child’s admission has been confirmed by the institute. Hence it becomes important to have rough estimates to work with, to do your homework well in advance, and to understand what your loan eligibility is. Apply for Education Loans List of questions you should ask before taking an education loan 1. Understand your costs Compare the various institutes and their fees, hostel fees, and additional charges, if any. Step One is having a thorough grasp of the total expenses that you are likely to incur across the entire duration of the course. If you are looking at international universities, remember to add travel costs as well. So get that number, and allow for a 5% - 10% buffer for any unexpected expenses. Compare the costs of the few institutes that your child is considering. This will help you arrive at the right estimate while working out your expenses. https://www.youtube.com/shorts/woiuX0oE1YU 2. Check with the bank on what components of the total expenses the loan will cover Different banks have different parameters. Some loans will cover only tuition fees, others cover tuition and hostel fees. Some may even include your travel costs. Make sure you are well aware of what is being covered when discussing the loan amount. https://www.youtube.com/shorts/p2Bj4VgVHgQ 3. Find out what percentage of the total cost will be given as a loan That means the loan will not fund your full expenses. Usually, a bank will fund 80% of the tuition fees / total expenses. You will have to fund the other 20% as a down payment. https://www.youtube.com/shorts/4lVk1mKqwaI 4. Check which courses and institutions are eligible for education loans This is an important consideration, as if your institute is not on the list, getting an education loan will be a challenge. https://www.youtube.com/shorts/TJ4qgFj46Uw 5. Check if your bank needs collateral Most nationalized banks in India and large private banks will require collateral that is 3-4 times in value of the loan you plan to take. Check what your bank is expecting. Additional read: Does education loan impact student loan interest rates? 6. Will the loan require a guarantor? This is a common practice, especially for overseas education loans. It is the bank’s way of assuring the loan is paid back. https://www.youtube.com/shorts/mW0VH10uH9I 7. Find out the loan repayment policy Education loans typically start repayment only after the course ends and the candidate starts work. Banks usually provide a grace of 6 months to one year post the course completion or till the time the candidate gets a job. Do note that this time period cannot be indefinitely extended even if the student is unable to find employment. https://www.youtube.com/watch?v=9EAyvncisU4 8. What is the loan tenure? The smaller the loan amount, the shorter the tenure.  This tenure will change subject to the changing interest rate of the loan, so you must track the rates on a regular basis. https://www.youtube.com/watch?v=fufyFB9aMQI 9. Is there a processing fee? This fee is usually a percentage of the loan amount. Check on this and see if you can get a waiver. If your loan amount is large, your processing fee will be large too, and you will have to arrange for this along with the down payment that you will have to make towards your part of the loan. Additional read: What are blue-chip stocks 10. How much of this education loan can I self-fund? If you start investing and planning well in advance, you can actually partially fund the cost of education. This is important as no loan is free money, you have to pay it back, and interest rates keep going up year after year. Check out the College Cost Calculator to see how much you need to spend and how you can save for the future cost of your child’s education.  With some smart planning and investment, you can actually reduce the education loan burden on your family. To know how you can do this, check out our link on savings and investments here. While you ask these questions before you take the education loan, you must also check out if your child is eligible for scholarships. Applying for these well in time and winning the scholarship will mean you will have to borrow that much less. After all, every rupee saved is a rupee earned. FAQs What should I consider before taking an education loan? Before taking an education loan, understand the total course expenses, what components the loan will cover, and how much of the total cost the loan will fund. What does an education loan typically cover? Education loans may cover tuition fees, hostel fees, and sometimes travel costs. The coverage varies between different banks and loan providers. How much of the total cost will an education loan cover? Most banks fund around 80% of the tuition fees or total expenses, requiring you to contribute the remaining 20% as a down payment. Are all courses and institutions eligible for education loans? Not all courses and institutions may be eligible for education loans. Ensure your chosen course and institute are on the list of eligible options. Does an education loan require collateral? Many banks in India and large private banks may require collateral, typically valued at 3-4 times the loan amount. Check your bank's requirements.

According to a Times of India survey, single mothers head 4.5% of Indian households. Moreover, over 7% of parents are single and solely responsible for their child’s expenses. With education inflation pushing the cost of education over the roof, here is how single parents can save for higher education so that their child’s future is secure.   1. Proper budgeting  First tip on how single parents can save for higher education is Budgeting! It is extremely important for both the parent and the child. Your finances may suffer if you do not keep a track of when and where are you spending. Moreover, if you follow proper budgeting then it will help you track your monthly cash flow and analyze where you need to spend less.   You should set aside money for all your necessities as soon as you get your monthly amount. You must remember that if you follow proper budgeting and start saving early, it will help you gather a good corpus for your child.  2. Budget child expenses  The second tip is a tip on how single parents can save for higher education by budgeting child expenses! It’s important to track your child’s expenses as well. As a parent, you want to give the best to your child but it should not be beyond your monetary means. If you are a single parent responsible for pick and drop then try carpooling! Try to cut back on expenses where you can save and ensure your child gets the best of opportunities!    If you are choosing a school for your child, make sure that you make a list of them and then choose the one which provides good education and which fits your budget. Do not go for high-end schools just for the sake of the name. Make sure it’s in the neighborhood so that you don’t have to spend more money on transportation and your child can get home sooner to relax!  3. Create an emergency fund  The third tip is tip of how single parents can save for higher education is by creating an emergency fund! Emergency funds prove to be extremely handy in certain situations. If an unexpected circumstance comes up, it might as well take away all your savings which will be detrimental to your financial planning. Hence, you should focus on gathering an emergency fund for you and your child which should cover 12 to 24 months of living expenditure. It should also include loan EMIs. You have to be vigilant enough regarding any event which may come up and suck your savings. Make sure that you use this amount wisely and constructively.  You can build up an emergency fund in just three steps:  Decide the Size of the Emergency Fund  The thumb rule to generate an emergency fund is to focus on saving a corpus amount that can cover your expenses for more than 6 to 12 months.  Identify Highly Liquid Savings Product  Some of the common options for creating a contingency fund will include liquid or money market funds, short-term debt funds, savings bank accounts, floating rate funds, and so on.  Proper Financial Planning  In the final step, you have to make sure that you set aside a portion of your monthly income for generating this emergency fund. You should go for an automated procedure by setting up a SIP in a liquid fund or alternative debt fund.  4. Establish bank limits  Another tip is to set bank and credit card limits! Avoiding debt is the initial basic step that is crucial for saving up for your child. Next, you need to make sure that you are not spending more than what is required. For this purpose, you can set a limitation on your bank account. In such a scenario, you need to have a proper discussion with your child over the needs and the expenses involved.   The discussion should be candid or transparent with proper financial concerns, boundaries, and needs.   5. Invest wisely  The last tip is a tip on how single parents can save for higher education is to invest wisely. Investing in wise options is quite essential for single parents. Risk factors can lead to the demolishment of the generated corpus for your child’s education. Hence, you should invest in equity and mutual funds only if you have 10 to 15 years left for your child’s higher education. You can go for public provident funds which assure you a basic amount of interest for the amount that you put in.   There are recurring and fixed deposits in which you will get an interest based on what has been fixed by the bank. Moreover, you have options such as gold ETF where you can invest in gold.   While investing in gold ETF, make sure that you do not invest in the physical form of gold. These investment options will work really well if start with them as early as possible.  FAQs What are some practical strategies for single parents to save for their child's higher education? Single parents can save for higher education by creating a budget, exploring government aid, starting a monthly SIP to save for their child's education, and seeking scholarships and grants. How can single parents balance saving for education with other financial responsibilities? Single parents can strike a balance by setting clear financial goals, creating a budget, and prioritizing saving for education alongside other essential expenses. Can single parents benefit from education-focused scholarships and grants? Yes, many scholarships and grants are available specifically for single parents. Research and apply for these opportunities to help reduce the financial burden of education. How can single parents involve their children in the process of saving for higher education? Single parents can teach their children about financial responsibility and the importance of education by involving them in discussions about saving, setting financial goals, and exploring scholarship opportunities together. Are there community resources or organizations that provide support for single parents saving for higher education? Yes, some community organizations and non-profits offer financial literacy programs and support for single parents seeking to save for their child's education. Research local resources for assistance.