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There are hundreds of scholarships for Ireland that international students can avail themselves to fund their dreams. These awards either provide full or partial funding depending on the requirements, program, and institution and the student’s merits and application. Before applying for a scholarship, it is crucial to carefully review the selection criteria because Irish scholarships can be extremely competitive. Good academic standing is crucial if you want to receive a scholarship in Ireland. Both written proposals and volunteer experience are requirements for students. It's essential to have results of English proficiency tests like the IELTS, TOEFL, PTE, etc., as well as relevant letters of recommendation. Let’s look at some scholarships for Ireland to fund your child’s college degree in detail: Ireland government scholarships International students who can excel in their chosen fields of study and advance to positions of leadership in their fields are the target audience for the government of Ireland's scholarships. The Higher Education Authority is responsible for managing government of Ireland scholarships. Ireland offers a large number of fully paid scholarships. The organization awards 60 scholarships to students in any field of study from the European Union and all other nations. The scholarships are meant for Bachelor's, Master's, and doctorate. Financial support of ₹7 - 8 lakhs for one academic year. Applications may be submitted online using the website. Additional read: Scholarships in Germany Ireland government postgraduate scholarship program The Ireland government offers some postgraduate scholarships, especially for international students. Financial Coverage Annual stipend of ₹10 - 15 lakhs. Contribution to fees, which includes non-EU fees, is limited to a maximum of ₹4.5 lakhs per year. Annual eligible direct research expenses are ₹1.5 - 2 lakhs. Eligibility Criteria Both EU and non-EU students may apply. Students who want results can also apply. Bachelor's degree in first or upper second class with honors, or an equivalent degree (equivalent to or exceeding 60% on the percentage scale or B on the international scale), There is no age limit. Additional read: Scholarships in Australia Ireland university and college scholarships for international students 1. Nui Galway international student scholarships International Student Scholarships at NUI Galway is available to non-EU students. The fellowship is open to students enrolling in undergraduate, graduate, or doctorate programs. Benefits: Each year, students receive between ₹1.6 and 3.2 lakhs. Some programs waive tuition costs while giving research candidates a yearly grant of ₹10 - 13 lakhs. 2. Maynooth University Scholarships One of the best universities in Ireland is Maynooth University. It gives several kinds of scholarships including sports scholarships, music scholarships, admission scholarships, intel women in technology scholarships, etc. Benefits: Awards range from ₹80,000 to 3,20,000 annually. Depending on the sort of scholarship, students may also receive some extra advantages. For instance, the athletic scholarship might assist students with both sports-related and other fees. 3. Trinity College Dublin Scholarships Another well-known college in Ireland that awards scholarships to several international students enrolling in undergraduate or graduate programs are Trinity College. Benefits: Waivers of fees, living expenses coverage, health insurance, etc. Depending on the type of grant, students can expect to receive between ₹4 and ₹8 lakhs. 4. University College Cork Scholarship Excellence scholarships are available from University College Cork to students participating in various undergraduate, graduate, and Ph.D. programs. Benefits: The funding exclusively covers EU fees. The outstanding fees must be paid by non-EU students. The living cost is covered for students outside of the EU. Additional read: Scholarship in Singapore Other Ireland programs for scholarship Other organizations offering scholarships to international students: 1. The Walsh Fellowship Only EU fees are covered by funding. The remaining tuition is due for non-EU students. The living cost is funded for international students. The scholarships are for 4 years for Ph.D. programs and in exceptional cases, 2 years for M.Sc students. Funding worth ₹30 crores per year is committed to the program. Ph.D. programs in agriculture, food, horticulture, rural development, etc are given priority for these awards. 2. Central Bank of Ireland Undergraduate Scholarships For International Students A fully financed part-time honors degree scholarship program in Griffith College has been made available by the Central Bank of Ireland for international students. A contract for full-time employment of 4 years at the Central Bank of Ireland will be signed, alongside a seat in a 3-year part-time graduate degree - BA (Hons) in Business Studies or Accountancy & Finance. Benefits ₹20 - 23 lakhs annual salary. 24 days of leave per year. Educational assistance, as well as paid study, leave. Hybrid working (balance of working from home and office) Pension schemes, and more. For all the great brains out there, scholarships in Ireland are undoubtedly a profitable alternative. You must keep in mind, though, that scholarships are competitive, therefore it is advised that you apply to several to have backup choices. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education loans are a tremendous option if you don’t have enough funds to fuel your child’s dream. If you have the ability to pay your tuition and other expenses in installments, education loans may be a good fit for you. Let’s look at the list of expenses covered under education loans. Does an education loan cover living expenses? The simple answer is Yes! The amount of living expenditure coverage provided by banks varies from one bank to the next. Food, rent, everyday expenses, and other living costs are all included in the extremely broad area of living expenses. The manner expenditures are paid for by the loans is not consistent. While some banks may have a different system for determining the cost of living assessment, others may impose a cap on the monthly costs subject to a particular percentage of the entire loan amount. The reason it's crucial to focus on the specifics of the degree of loan coverage being provided on a certain loan. List of expenses covered under education loan Get in touch with our specialists at EduFund if you want to get an education loan so you can quickly get loans up to INR 1 Cr to study in India or abroad. Simply compare and use. It's that easy! 1. Tuition fees The majority of your expenditures, which include tuition fees, are covered by all forms of student loans. All lenders will pay for the tuition, which is the foundation of your international education. Even the smallest student loans mostly pay for school 2. Cost of living  Your living costs while you reside in the UK, the USA, Australia, Canada, etc., are occasionally greater than those of your complete family in India. The local and foreign currency exchange rates are to blame for this. Rent, food, local transportation, and other costs are all paid for by the education loan. The bank or lenders will determine how much they are covered. 3. Exam and studies-related costs  Education Loan expenses include those for books, computers, exams, extracurricular activities, and other things needed for studying. Some banks are only permitted to pay for these costs if they don't equal more than 20% of the overall loan amount. 4. Air travel tickets For students from low-income and middle-class families, traveling to a distant country requires a major financial commitment. Flights from India to London or Toronto one day may be expensive. An aircraft ticket may cost between 50,000 and 1 lakh Indian Rupees. Many lenders may let the provision include the cost of the aircraft ticket in the total loan debt even though it is not a sizable sum. It must be taken into account that travel expenditures are not often counted as a loan failure by banks. The borrower may choose to include this. It is advised to include the cost of transportation in the loan for those who cannot pay it. 5. Health insurance Student loans frequently do not include health insurance. Most lending organizations don't pay for the cost of health insurance. However, depending on the borrower's request, certain banks may agree to pay the cost of health insurance. Because of this, very few banks would count health insurance as part of the loan. What costs are not covered by a student loan? Tickets to movies, individual travel, and other such entertainment costs are not covered by student loans. Only tuition fees are in default across all college loans from different banks, even for costs reimbursed by education loans. Other costs, such as rent or other living expenses and airline tickets, are either not covered at all or only partially reimbursed (30–40%). How to calculate expenses covered in education loans? Make sure you have a good idea of the costs you anticipate incurring while studying abroad before you approach banks or other lenders for school loans. Here are some things to take into account when estimating school loan repayment costs: The cost of lodging close to the university where you have been accepted. Depending on whether you can cook, the cost of food. the price of gasoline and other forms of public transportation. Therefore if you're interested in studying abroad, don't delay any longer because there are accessible education loans available to help you reach your dream university! Finally, before making any decisions, always be sure to carefully study all documentation relating to the scheme. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Living expenses in France for Indian students depend on the location of their residence and individual lifestyle. The cost of living in Paris is no doubt more than in Lyon or Grenoble. Similarly, if a student loves to eat in restaurants and not on campus, then their cost of living will automatically rise. The average monthly living expenses in France vary between EUR 1000 - EUR 1350 per month (nearly INR 79,960– INR 1,07,946). It is quite reasonable if you consider other countries like the USA and UK.  International students should be aware of the cost of living in the city they will be studying in. Take the help of the college cost calculator on the Edufund App to factor in the necessary costs like food, rent, traveling, health insurance, etc. to calculate the living expenses. Living expenses in France for Indian students 1. Food (average monthly cost) The cost of food depends upon an individual and whether they want to cook at home, eat on campus or at restaurants.  An overview of the food expenses based on cities is- City Cost Grenoble EUR  200 – EUR 300 (nearly INR 15,992- INR 23,988) per month.BordeauxOutside meals are EUR 0.90 – EUR 6 (nearly INR 72 - INR 479) per meal.Nantes EUR 200 (nearly INR 15,992) per month.LyonEUR  300 (nearly INR 23,988) per month.Paris Meals outside per meal EUR 9 – EUR 15 (nearly INR 719 - INR 1,199). 2. Cost of basic grocery items Food and BeveragesCostBread EUR 1.20 (nearly INR 95.9).Potatoes 1 kgEUR 1.89 (nearly INR 151.1).Apples 1 kgEUR 2.98 (nearly INR 238.2).Local cheeseEUR 7 (nearly INR 559.7).MilkEUR 1.10 (nearly INR 87.9).Eggs (12)EUR 4.29 (nearly INR 343).Boneless chicken breast 500 gmsEUR 5.29 (nearly INR 422.9).Tomatoes 1 kgEUR 2.94 (nearly INR 235). 3. Accommodation The average monthly cost of accommodation in France is based on whether the student is living in a student's hostel or private housing and in which city they are residing. The student hostel is no doubt cheaper than private housing.  An overview of the rent based on the area of stay follows- City Cost per month Grenoble EUR  200 – EUR 500 (nearly INR 15,992- INR 39,980).MontpellierEUR  335 – EUR  522 (nearly INR 26,786 - INR 41,739).Nantes EUR 250 – EUR 550 (nearly INR 19,990- INR 43,978).LyonEUR  400 – EUR  550 (nearly INR 31,984- INR 43,978).Paris EUR  300 – EUR  500 (nearly INR 23,988 - INR 39,980). 4. Transportation costs Public transport in France is well-connected and extensive. The city’s metro is easy to navigate, and the weekly tickets cost EUR 0.85 (nearly INR 67.96) plus EUR 1 (nearly INR 79.96) refundable deposit fee per trip at EUR 21 (nearly INR 1,679) per month. The public transport is pretty reliable and cheap with the bus fare being EUR 2-3 (nearly INR 159 – INR 239) return, train fare at EUR 6 (nearly INR 479) per person one-way and taxis at EUR 10 – EUR 15 (nearly INR 799 – INR 1,199) one way.  The cost per month, depending upon the area of study is CityCost Per MonthGrenobleRental Bike EUR 10 – EUR 25 (nearly INR 799 - INR 1,999).TAG transportation service EUR 10 - EUR 60 (nearly INR 799 - INR 4,797).Nantes EUR 50 (nearly INR 3,998)Lyon Public transport (bus, metro) is EUR 13.20 monthly for a 10-ticket book. (nearly INR 1,055)Travel card - EUR 32.50 (nearly INR 2,598).ParisYearly pass EUR 333.50 (nearly INR 26,666)Taxi (1 hour) – EUR 40 (nearly INR 3,198). 5. Personal Expenses Mobile phone – EUR 50 (nearly INR 1,599) per month. Entertainment – EUR 240 (nearly INR 19,190). Internet – EUR 30 (nearly INR 2,398). Magazines, stationary – EUR 80 (nearly INR 6,396). Hobbies EUR 100 (nearly INR 7,996). 6. Health Insurance Health insurance is mandatory and an integral part of the living expenses in France for international students. Although a part of it is covered by the government, students have to pay one-time or annual fees as required.  City CostsGrenobleHome insurance - EUR 40 – EUR 100 per annum (nearly INR 3,198 – INR 7,996).Healthcare visit – EUR 25 (nearly INR 1,999).NantesEUR 350 per annum (nearly INR 27,986).LyonEUR 50 one-time cost (nearly INR 3,998).ParisSocial security EUR 92 (nearly INR 7,356).Civil liability insurance – EUR 30 (nearly INR 2,398). Conclusion Quality education at top universities and affordable living expenses in France for international students makes it a desired hub to study abroad. Students should try to stick to their budget to make their stay comfortable.  The college cost calculator on EduFund is a guiding tool that gives an estimate of future expenses so that students can be mindful of the money they will need as living expenses in France.  TALK TO AN EXPERT

Every investor is looking for a well-diversified portfolio. However, due to a lack of knowledge, investors can't do it themselves.  Here, EduFund comes in to solve your problem at no extra cost. How? Let's find out in this blog Why Educase? There are different educases to meet the requirements of every level of investor. Every case is made with proper diversification and the right asset allocation. For aggressive risk or long-term category of investors, the exposure is more in the equity asset class to provide good returns and for an investor with a short-term view (6 months), the exposure is more in the debt asset class. So, these cases meet the requirements of every investor. What is Navi Skyscraper Returns Educase? Navi Educase is a pack of multiple equity mutual funds investing across market capitalization and sectors, with most of the Index funds. Navi Skyscraper Returns is an aggressive risk category educase that invests your money in equity funds having high growth potential. This educase comes up with relatively low volatility and stable returns because this educase invests majorly in Index funds. Why Navi Skyscraper Returns Educase? It provides you with a well-diversified portfolio from a wide range of large, mid, and small-cap companies at a very low cost with the benefit of annual rebalancing. The past data on educases has been back-tested before implementation. The strategy behind Aggressive Educase This educase is designed in such a way that it beats inflation and helps you to create wealth over a long-term period. Index funds have been given more weightage to provide consistency in returns and match the market returns. Who should invest in? Early parents who have just started saving for their toddlers and have more than 7 years to save. Since the educase only consists of equity funds, the returns may not be seen in a shorter period, but in a longer period, returns will be more than average. Advantages No extra cost - There is no hidden or extra cost being charged to invest in educase. Annual rebalancing - All the Navi educases are rebalanced annually if required.  Continuous monitoring - Navi educases are tracked and monitored continuously. Lowest expense ratio – Navi as an AMC (Asset Management Company) offers the lowest expense ratio in the industry. So this educase has the lowest expense ratio because of the Index fund. Experienced Research Team – The EduFund research team has a total experience of more than 35 years collectively. Due Diligence – Educases are made after proper research and due diligence is done by the EduFund research team. How can you invest in Navi Educase? The process is simple and paperless: Download the EduFund app from the Apple Store or Android Play Store. Complete the KYC process. Calculate your risk appetite. Explore the Navi Educase under Educases. And place your order.

As someone once said, "He who buys what he does not need steals from himself". Saving is an art; one learns to master it with time, but you don't have to wait. You can know how to save right now! Here is the best way to save money in India and learn from others so you don't spend more than you need to.  1. Save money by budgeting Budgeting your expenses is the most underrated yet obvious way to save money in India or elsewhere. By calculating your spending and where you are, you can find your monthly costs and check whether they fall within your income bracket.    Budgeting can help you understand where you are overspending, how to cut back on your expenses, and whether there is a leak in your budget, for example, a TATA Sky subscription you no longer use but are being charged for it every year. Take out your bank statement, assess where you are spending most of your money, and start budgeting. You don't have to cut down on all your luxuries, but you can eliminate the ones you no longer need or enjoy!    2. Save money by shopping online    Another best way to save money in India is to reap the benefits of digitalization and online shopping. Most brands offer great discounts and offers on items online to attract customers and retain them for the long run. For example, check different online shopping sites if you want to buy a TV. Figure out the best price by comparing it with various portals. You can also use this practice to book trips, hotels, and flights and easily save money in India.    3. Save money by using public transportation    Another way to save money in India is to use public transportation! India's metro cities are well-connected, and the availability of public transport helps Indians save money easily. This practice is not only good for your pocket but the environment. If you travel by private cabs to your office or college, switch to local trains, metro, or buses. If you use your car for daily commuting, look for carpooling with your co-workers or friends. This is a cost-effective way to save money on daily commutes for you and your colleagues.    4. Save money by avoiding lifestyle inflation   Most people fall victim to lifestyle inflation around the world. If you have increased your spending with an increase in your salary, you are a victim of lifestyle inflation. It is a phenomenon wherein people's wants increase with a rise in their incomes. It's easy to fall prey to this phenomenon because most people are unaware; a yearly bonus spent on a spontaneous trip or buying a new iPhone as soon as you receive your salary are some examples of lifestyle inflation.    Try to be conscious of your expenses and not spend your increment on luxuries or wants. Instead, try to save and invest it to make the most of your savings in the long run.    5. Save money by investing    Shockingly enough, only 2% of the Indian population is an investor in the stock market. Most Indians are averse to investing and miss out on an opportunity to create a rich corpus for themselves. But the scenario is changing; more and more people understand the benefits of saving and investing through social media. The opportunity to start investing as low as Rs. 100 or Rs. 500 has opened doors for people with no substantial disposable income but who wish to start soon and be regular.    Make the most of this finance trend in India; invest wisely and consistently so that you can save money on long-term goals like a house, your child's education, or an international trip! Explore SIP as an investment method and start saving Rs. 1000 every month in your chosen fund, ETF, or stock. You can also consult a financial advisor if you are new to investing and require expert guidance!   6. Saving money by creating passive income    Saving money also requires creating different income sources, so you do not have to rely on one source. This is a tremendous savings tip because it protects you in times of recession and job loss. Some ways to create passive income would be to invest in stocks that provide dividends to their stakeholders or skill-up to sell services like consultancy on jobs.    7. Saving money by reducing your debt   Another way to save money in India is to work towards reducing your debt to a manageable amount within your income. Try not to purchase too many items on EMI, no matter how attractive the monthly cost may be. Please avoid using your credit card for every purchase and limit your monthly expenses so you don't create a mountain of debt without realizing it.    You can use these tips and the best ways to save money in India to build a sustainable lifestyle. Avoid overindulging, and try to understand your cash flow so that you can save your hard-earned money.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

The demand for education loans for Canada is quite high all over the world, especially amongst Indian students who aspire to pursue their education overseas.  Top-grade universities and colleges in Canada, unique curriculum, numerous options in diploma and degree programs, diverse exposure to an enchanting country and its culture, and excellent career opportunities lead to dynamic student life, which is preferred by the new generation.  There are several financial institutions like banks and NBFCs in India that offer education loans at reasonable rates to study in Canada. Top universities and their fees Canada is an ideal destination for studying abroad because it is home to some of the best universities in the world. The costs of a few of the top universities for an entire course are as follows- University of Ottawa - $31,444 (nearly INR 25 lakhs). McMaster University - $31,770 (nearly INR 25.64 lakhs). University of Winnipeg - $23,695 (nearly INR 18.8 lakhs). University of Manitoba - $22,000 (nearly INR 17.5 lakhs). Dalhousie University - $10,000 (nearly INR 7.9 lakhs). Brandon University - $7,203 (nearly INR 5.7 lakhs Types of education loans Education loan for Canada with collateral – The applicant has to provide collateral in the form of tangible assets (land, flat) and non-tangible (FDs, life insurance) to secure an education loan.  Loan without collateral – The applicant does not have to give any security as collateral, but there should be a co-applicant to minimize the risk.  Study courses covered under an educational loan Diploma course. Undergraduate degree. Doctorate programs. Postgraduate degree. Vocational course. Skill development course. Expenses included in the education loan Tuition fees. Hostel fees. Caution deposit. Traveling expenses. Library, laboratory, and examination fees. Cost of books and uniforms. Cost of laptop if required. Expenses for study tours or project work if required. Top Banks, tenure, rate of interest, and maximum loan amount Eligibility criteria for an Indian student The student should be a citizen of India. They should be 18 years and above (in case the student is shy of 18+ the loan will have to be secured in the parent's name). Must have a good academic record. The intended course should be valid. The admission should be to a recognized university in Canada Documents required for applying for an education loan in Canada Financial institutions need to verify the details provided by the applicant through the following documents- Properly filled-out loan application form. Photo ID proof of the applicant and co-applicant like Voter ID, Aadhaar card, PAN card, etc. Passport-size photo of the applicant and co-applicant. Residence proof like Aadhaar card, electricity bill, etc.  Result of entrance test. Letter of admission. Statement of cost of admission. Marksheet of qualifying exams. GRE/GMAT scores. Income proof of the applicant. Bank statement of the last six months of the applicant and the co-applicant. Property title deed in case of collateral Repayment terms Repayment begins after 6 months or one year once the study course is complete or the loan applicant is hired for a job, whichever comes first. The tenure is pre-decided, and the loan amount has to be paid accordingly.   Tax Benefits Applicants can claim tax benefits under Section 80E on the interest paid on the full amount of the education loan for Canada and not the principal amount. The benefits can be claimed for seven consecutive years starting from the date of repayment.  https://www.youtube.com/watch?v=4gTQkdePOWM How to get an education loan in Canada? Visit the official website of the financial institution or conduct a one-on-one interview with the representative to know the details about the education loan for Canada.   Check whether the selected course is recognized by the bank. Figure out how much loan amount you can get, the tenure, and the rate of interest.  Compare the details with other banks. After finalizing, submit the necessary documents. It takes nearly 15 days for the application process to complete. Conclusion  Education loan has become a necessity in recent years as it helps aspiring students with the required funds at the earliest.  The Edufund app ensures 100% transparency and a secured transaction for students interested in getting an education loan for Canada. It has a strategic partnership with financial institutions like Axis Bank, ICICI Bank, MPower Financing, etc., that enables students to get the lowest rates, door-step service, hassle-free process, and a better chance of loan approval. Consult an expert advisor to get the right plan TALK TO AN EXPERT

ETFs (Exchange Traded Funds) are popular in the US market. And leveraged ETFs are less known by everyone. In India, we do not have to leverage ETFs, but these are available in the US market. What is a leveraged ETF? Leveraged ETFs are exchange-traded funds that use financial derivatives and debt to increase the returns of an underlying index like the S&P 500. Leveraged ETF possesses high risk and return attributes. A leveraged ETF tries to boost the daily returns of the index. They basically take the margins/leverage by using debt and financial derivates. How do leveraged ETFs work? Traditional ETFs try to match the returns of the benchmark, but leveraged ETFs try to maximize the returns two to three times rather than just matching the benchmark's performance. Leverage ETFs use borrowed money to invest in financial derivatives such as future and option contracts. For example, an ETF that tracks the S&P 500 index will try to replicate the returns of the benchmark. But leveraged ETF will seek to maximize returns on a 2:1 or 3:1, expressed as 2x or 3x, respectively. Suppose an S&P 500 tracking ETF has generated returns of 2%, then a leverage ETF 2x can provide you 4% returns. And if the S&P 500 tracking ETF has generated negative returns of 3%, then a leverage ETF 2x can provide you 6% negative returns. Are leveraged ETFs expensive? Usually, traditional ETFs have an expense ratio of around 0.45%, but leveraged ETFs have an expense ratio of around 1.00%. The reason for the higher expense ratio is the frequent trading of underlying securities using leverage. A higher expense ratio reduces the returns of a leveraged ETF. Pros and Cons of leveraged ETFs Pros Easily to trade – Like any other ETFs, leverage ETFs are also traded on the exchange in the open market operations, just like stocks. So, it becomes easy to trade in leveraged ETFs. Access to derivatives – Leverage ETFs provide indirect access to financial derivatives, such as future and options contracts, which may not be accessible by everyone or cost high to trade. Potential to provide exceptional returns – Since these ETFs use leverage and invest in equity derivatives, they have the potential to provide exceptional returns to their investors compared to traditional ETFs. Cons Higher expense ratio – Comparatively leveraged ETFs require more management; due to this reason, these ETFs have a higher expense ratio than traditional ETFs. So, these ETFs could cost you more as they are associated with trading in financial derivatives. High risk – Leverage ETFs have high market risk compared to normal ETFs. Suppose the market or underlying security is not moving in one direction. In that case, these ETFs can erode the value of your money over time as they might have taken the opposite position. Poor long-term holdings – Since these ETFs mainly trade in derivatives of underlying securities, so they do not hold any security for a longer period. They only use stocks for a short-term period to generate daily profits. Conclusion Leverage ETFs can provide you with hefty returns, but they can also erode your wealth if the market reacts inversely. Evaluating leveraged ETFs is very crucial before investing. You can choose a normal ETF if your risk appetite is less, or a 2x/3x leveraged ETF if you take very high risk. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Long-term goals help in achieving a significant desire in the long run. From an individual’s viewpoint, the term long-term goals mean achieving outcomes in the course of their life. It relates to personal struggles, career graphs, relationships, education, health, business dealings, savings, and investing plans.  Long-term goals cannot be achieved in one year, month, week, or day. It takes years for them to bear fruit. This type of goal requires proper planning and more effort for desired outcomes. Long-term goals motivate people to believe that their hard work will pay off eventually in the long run. Types of long-term goals  1. Career goals Long-term career goals relate to an individual’s career and job goals.  For example, starting a business, developing a career-specific skill, changing careers, or getting promoted.  2. Financial goals Financial goals focus on investing and saving for the future and creating wealth. This type of goal relates to money, and from an investor’s viewpoint, long-term financial goals are the ones that last for 5 years or more.  Examples include savings and investment schemes like a child’s higher education plan for abroad and retirement plans. Common investment vehicles to achieve them are mutual funds, real estate, and equities/shares.  Investors who want to create long-term education and retirement plans can choose Edufund. The app boasts of 4000+ direct mutual funds, SIPs, US ETFs, ELSS funds, US stocks, and fractional investing. Financial experts are available at every point of the journey to guide them toward choosing suitable savings plans to achieve their long-term goals.  3. Personal Goals Personal goals are the ones that focus on the personal life of an individual.  Common examples include pursuing a hobby like writing a book, becoming a better parent, or learning a skill that will help in the future. Additional read: What are long-term goals? How to set and achieve long-term goals? 1. Proper planning The research lays the groundwork for proper planning. It helps to understand what long-term goals are of an individual and how to set and achieve them effectively.  Differentiate between wishes and goals and rely on facts and not on luck and wishful thinking. Take concrete steps, and with the help of thorough research, make a concrete plan.  Financial experts on the Edufund app can guide you in investing in the right savings plans. The app also has the necessary tools like a SIP calculator, college cost calculator, and to create personal financial plans.   2. Set goals that matter Long-term goals are for the future and require goal-setting that will prove beneficial in the long run. Set goals that will matter, for instance, a retirement plan that every person needs for later years. If the goals are vague, they will lose their meaning over the years. The loss of focus, meaning, and motivation will decrease the likelihood of achieving that goal.  3. Take concrete steps Take concrete steps if you want to achieve long-term goals. Be precise, clear, and determined in your efforts as it will help focus and improve performance.  4. Be specific Be specific and create challenging but achievable goals that are easy to pursue. Tasks that are too easy can fail to motivate, whereas which are too hard proves demotivating. Find the right balance and push yourself towards it for desired results. 5. Break them into smaller goals Break the long-term goals into small-term goals as they are easily achievable in a short duration. When you achieve a small task, you take a step forward and contribute to the overall goal. Several small steps can make the long-term goals look doable.  6. Write it down When you have a clear path, it becomes easy to reach a goal. Write the goals in a diary or a journal because writing them down gives the goal a proper meaning and converts thoughts into action. It also acts as a reminder to focus and move towards them dedicatedly. 7. Create a feedback cycle Create a feedback cycle to track your progress on all aspects and identify roadblocks, if any. It will help to adjust and change for expected outputs.  8. Keep a track Keep track of the long-term goals to identify whether the desired goals are being met. The action plan has already been mapped out in the planning phase, and this stage confirms whether the tasks have been undertaken as per the schedule.  Conclusion Focusing on long-term improvement helps to achieve emotional intelligence, self-improvement, and personal development. There is a deep sense of purpose while working on a long-term goal, which encourages an individual to keep moving forward. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Short-term vs long-term savings for your child’s education is a common dilemma for parents who are trying to secure their child’s dream via quality education. Nothing is more important than a kid’s future, and education can open doors of opportunities for better personal and professional life.  Parents have to create proper education plans to deal with the rising cost of education. They have to save and invest promptly in worthy investment schemes that will yield the highest possible returns.  Which of the investment schemes is better, where should one invest, and is short-term better than long-term savings or vice-versa are important questions that need to be answered before creating an effective educational plan for your child’s higher education?  Let us identify the differences between short-term vs long-term savings based on different parameters to understand the purpose they can fulfill. Difference between short-term vs long-term savings 1. Meaning Short-term savings are used mostly to deposit excess funds for a shorter period. These are highly liquid and predictable schemes that can meet any unexpected future expenses. The long-term savings, on the other hand, cannot be easily liquified, nor can they meet any unexpected expenses.  2. Goal-based The short-term investment is created to meet immediate savings goals, whereas the long-term investment is created to meet long-term savings goals.  3. Tenure The timeframe of short-term and long-term savings plans vary as the former is for a small duration that lasts between 0 – 1 year, and the latter is for a longer duration as the investment tenure lasts for 5 years or more.  Additional read: Personal loan vs education loan 4. Risk and return expectations Every investment has some amount of risk and returns attached to it. It is the difference between the two financial instruments, short-term and long-term, that determines the amount of risk and return expectation.  Short-term investments show a lower risk for capital preservation and stable return expectation, whereas long-term investments show a higher risk incurred over a longer tenure in expectation of capital growth. 5. Purpose  The purpose of the investment matters a great deal. If you are in the later stages of the investment horizon, and it is time for withdrawal, then it is better to gradually stop long-term investment schemes and shift them to short-term savings like FDs and debt instruments. The purpose is to make the investments safe and secure, as short-term savings are considered safe compared to long-term savings schemes.  Thus, when the purpose of the scheme is principal protection, then short-term savings plans are the best option, but if the purpose is high returns, then long-term investment schemes are the better options.  Additional read: How to set financial goals? 6. Investment vehicles Investment vehicles to achieve short-term goals are savings accounts, FDs, treasury bills,  Gilt funds, and debt mutual funds. These are safe and secure vehicles with very low risk. Whereas the vehicles to achieve long-term goals are real-estate, mutual funds, ETFs, and equity/shares with high risks.  Choose from an option of 4000+ direct mutual funds and take a SIP for as low as INR 100 on the EduFun app if you are interested in saving for your child’s education. The app also offers the best US ETFs for a child’s education as well as ELSS funds that help parents in saving tax while investing in their child’s education corpus.   7. Rate of interest The interest rate for a short-term savings plan is less than that of long-term plans. A savings account offers an interest rate between 3% to 4%, whereas the rate of interest for an FD is 5% to 7%. The rate of interest for long-term schemes like mutual funds is way high as it shows an estimated return between 12% to 16%. Equity-oriented mutual funds with a holding period of more than 3 years generate nearly 15% returns.  8. Power of compounding The power of compounding makes the long-term investment yield higher returns, whereas short-term investments are unable to take advantage of the compounding power to the fullest.  9. Accessibility Short-term savings plans are easily liquified and accessible, whereas it is difficult to break the long-term schemes. Although the interest earned is small on the short-term savings plans, it can be withdrawn at any given time. The long-term savings plans, on the other hand, are more or less fixed for a definite tenure. In some cases, the investor can withdraw a part of the savings after a definite tenure but withdrawing the full amount is a bit trying.  Conclusion Short-term and Long-term savings plans are equally important to create an education corpus. It is important to note that a proper education plan must cover both short-term and long-term investment schemes. The right balance will yield some of the best possible returns to help parents to fulfill their child’s desire for a good education. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Sending your child abroad for higher studies? Or is there a course that is domestic and expensive?  Wherever it may be, the cost of higher education is often on the upper end of our budgets and keeps on increasing with every passing year. But that shouldn't stop your child! Education loans (student loans) are advances made by banks or financial institutions to students to help pay for the cost of higher education. Under this special loan program, highly qualified students are given financial support to study in institutions in India and abroad. Many Indian banks offer such loans at low interest rates and with flexible terms to qualified applicants. In addition, the documentation process is kept to an absolute minimum so that students can get their loan cash as soon as possible. Education loan eligibility The important education loan eligibility criteria that candidates need to fulfill to get loan approval are given here: The loan candidate applying for the loan must be a resident of India. Must have confirmed admission to recognized educational institutions in India or abroad. The age of the loan candidate must be between 18 and 35 years at the time of the loan application. Must have done Post Graduate/Post Graduate or PG Diploma. The candidate must have secured admission to a college or university affiliated with the All India Council for Technical Education (AICTE) / Govt / University Grants Commission (UGC), etc. Students attending full-time courses must have a co-applicant who can be either a parent/guardian or a spouse/father-in-law (in the case of married candidates). The best time to apply for education loans Read More Education loan documentation Below is the list of all the mandatory documents that a student must submit to banks when applying for a student loan: Duly completed and signed application form with pasted photos Two passport-size photos Copy of mark sheets 10/12 or the last education certificate Statement of expenses for the course/ study costs Aadhaar card and PAN card of student and parent/ guardian respectively Proof of Age: Copy of Aadhaar Card / Voter ID / Passport / Driving License Proof of Identity: Copy of Voter ID / Aadhaar Card / Driving License / Passport Proof of residence: Lease agreement / Statement of the bank account of the student or co-borrower / guarantor for six months/ copy of allotment letter/ gas book/ electricity bill/ telephone bill Proof of income Most recent pay stubs or Form 16 of parent/guardian / co-debtor Six months' borrower's account statement or updated bank passbook An Updated ITR (Income Tax Return with Income Computation) for 2 years or IT assessment order for the last two years of parent / co-borrower / guardian Documents communicating the assets and liabilities of the parent / co-debtor / guardian. https://www.youtube.com/shorts/Icp7ASAGrjw List of expenses covered by the education loan Below is the list, of what the loan amount will cover: Tuition Accommodation fees Travel expenses and travel money for students studying abroad Insurance Premium Cost of books/ equipment/ tools/ uniform Examination/ Lab/ Library Fees The cost of a computer/ laptop required to complete the course Deposit, building fund / refundable deposit evidenced by promissory notes/ receipts of the institution Any other expenses which are required to complete the course, such as study trips/ thesis/ project work Education loan interest rates In India, the interest rates for education loans vary from bank to bank. However, it can be anywhere between 12.00% and 16.00%, which, of course, depends on the bank's prime rate and other factors. The base interest rate for banks in India is around 9% - 10% as per RBI guidelines. Additional read: What is education loan insurance What will improve your education loan eligibility? Banks are careful while analyzing the eligibility of the candidates to ensure that the financial aid reaches the students. Before a loan is approved, the basic characteristics that are considered are the student's overall academic quality, their future educational path, and their current admission status. Scoring high grades/ places in qualifying exams Displaying good academic results Getting admission to a reputed/ top institute or university Strong financial background of parents/guardian/ co-borrower Showing good prospects for future employment/ income generation Conclusion Getting an education loan will come at a cost that could be a financial burden for any student. And with that burden, you might end up taking a 100% loan.  Download the EduFund app today to start planning for your child's higher education. TALK TO AN EXPERT

Pre-university education is a widespread option for students who have passed their tenth grade. This is because the curriculum covers a broad range of courses, allowing students to resume their studies after completing pre-university. Pre-university education, in other words, is a launching pad to higher learning qualifications or professional programs. Candidates studying for pre-university courses have various options based on their area of interest. The pre-university education system is generally classified into three major categories - Science, Commerce, and Arts. The courses in these three categories last for two years. Students can enroll for undergraduate studies at their chosen institutions after completing these two years. Characteristics of pre-university education system in India The course has a two-year length. Students who have finished the 10th grade from a recognized board can apply for pre-university enrolment. When the second year of pre-university study ends, the pre-university board administers a board test. Students must pick four significant subjects in the course they desire to pursue. The first language is usually English, and students are offered a second language option. The second Language choices given to the students include Arabic, French, German, Hindi, Kannada, Malayalam, Marathi, Sanskrit, Tamil, Telugu, and Urdu. The pre-university Education method is popular because it offers various academic combinations. Students can choose their studies based on the options the college provides. Furthermore, unlike in the 10th grade, when students must attempt all topics for the board examinations, pre-university education permits students to choose or reject subjects entirely. Students should keep in mind while choosing any courses in pre-university education that a student who chooses science at pre-university can also pursue a graduate program in commerce or arts following pre-university. On the other hand, a student who majors in business or the arts cannot pursue a scientific degree beyond the 12th grade. Recently, there has been a slight adjustment in this, with students who studied commerce in 12th grade being able to pursue specific paramedical certification courses following graduation Importance of the pre-university education system in India Pre-university education is a significant element in an individual's academic career before they enter university. Depending on their interests, goals, and financial situation, students can select a program. Their learning preferences and learning styles will also be fully developed at this point. Additionally, they can gauge a candidate's enthusiasm for academics and determination to start working right away. Students receive a taste of university life while refining their communication and interpersonal skills since colleges and universities offer pre-university courses. The university tuition fees for medical courses at government institutions are pretty low, and five-year studies may be finished for less than ten lakh rupees. However, for the same course, the tuition fee in a private college is Rs. 50 Lakh. If a student wants to pursue postgraduate studies, they should be prepared to pay an additional Rs 30 lakh to a private institute towards tuition fees. The university tuition fees for studying in the UK range from Rs 8 lakh to Rs 18 lakh. The cost of living is Rs 1.1 lakh per month in London and Rs 91,000 per month outside of London. https://www.youtube.com/watch?v=peDFdmed0Nw How to pick the appropriate pre-university education Joining a pre-university program that meets your child's needs opens the door to a happy and rewarding educational experience and, ultimately, a long-lasting career. Before enrolling in a pre-university program, students should ask themselves the following questions: Should I study at the local university or abroad? Should I get a bachelor's degree? If yes, which field should I choose? Do I meet the admission requirements for the pre-university program? What are my study skills? Should I prefer studying for exams, or should I excel in group projects and presentations? How much money do I have set aside for pre-university studies? Is there financial help or scholarships available? Create Child Education Goal with EduFund Options beyond pre-university education in India As previously said, pre-university education serves as a stepping stone to undergraduate degree programs. After the 12th grade, students have a multitude of alternatives. However, these alternatives are heavily influenced by the stream they choose in the 11th and 12th grades. Essentially, the pre-university learning system qualifies young minds for which course they should pursue at the undergrad level. After the 12th grade, students can enroll in professional courses. Their choices after 12th grade will determine their careers. Conclusion Pre-university is simply described as the period preceding entry into university, which typically lasts one to two years. Secondary school graduates can begin their higher education journey by enrolling in a pre-university program of their choice. Most countries now have a diverse range of pre-university programs for students wishing to pursue their education. There are plenty more alternatives available today than ever before. Students can enroll in either short-term or long-term courses.With technological improvements, several courses have been established over the years, allowing individuals to uncover their hidden abilities and achieve their aspirations. The basis for specialized undergraduate courses is laid by pre-university education. Talk To An Expert

Education loans have emerged as a much-needed motivation for students who want to pursue higher studies but are constrained by financial issues. Even students who could afford their higher education on their own now opt to take out student loans. This is due to the fact that an education loan may enable you to maintain your own funds for unforeseen expenses, as well as enable you to receive tax benefits and raise your CIBIL score. What is the moratorium period for an education loan? The duration of a borrower's exemption from loan repayment is known as the moratorium period. Loans taken out for education are subject to this repayment holiday. All government bank education loan programs are required by the Reserve Bank of India to provide a moratorium or grace period on loan repayment. Like other loans, an education loan has an interest rate attached to it. This interest starts to accrue the first month after the student loan is approved. However, government banks are required to grant borrowers of education loans a repayment holiday. This indicates that during the designated moratorium time, students are not required to pay back the interest. It should be kept in mind that during this time, the interest is not waived but simply deferred. When loan repayment begins, students will have to pay this accrued interest (split equally). Despite the fact that each bank has its own terms and conditions, most financial institutions offer a moratorium period of one year after the completion of the program. How do the grace period and moratorium period differ? A grace period and a moratorium period are frequently confused in the market. It is critical to understand that a grace period is a predetermined period after payment is past due during which, the payment may be made without incurring a penalty. On the other hand, a borrower is not required to make payments during a moratorium period. What are the benefits of an education loan moratorium period? Let's examine some of the benefits of the repayment holiday. With an education loan, the student will have less financial stress while they are studying. The student can focus on their academics without having to worry about money during this grace period because the bank does not impose any penalties for non-repayment. After completing the program, individuals can focus all of their efforts on finding a career that suits them within a year of graduation without having to worry about debt payback for a year. Throughout this time without repayment, the student's credit score is unaffected. During the moratorium period, the parents, who are typically co-borrowers of student loans, are not required to make any repayments. Is there a downside to the moratorium period? The moratorium term on student loans, like every coin, has both advantages and disadvantages. As was previously noted, the interest is delayed rather than waived during this time. As a result, it basically accumulates and the student is then required to pay it back. Due to the absence of payments during this period, the loan duration may somewhat lengthen. Some financial institutions impose simple interest throughout the study period and compound interest during the moratorium period, which raises the overall amount of interest that has accrued. Despite its many benefits, the most straightforward approach to get around the moratorium periods’ drawbacks is to begin payments as soon as you can. Perhaps, even while you're still in school with the help of a part-time job. What is the moratorium period for the various Indian banks? Lenders have different moratorium periods. On the basis of the different types of lenders, we may broadly divide this period. The moratorium of various lenders is as follows: Public-sector Banks: Government banks often have a moratorium period of the course period plus six months. During this moratorium, there are no payments that students are required to make. Private-sector Banks: In private banks, the moratorium term is often the course period plus 12 months. However, throughout this moratorium time, the borrower must pay a certain sum of simple interest. After the moratorium period, installments beginning with a portion of the principal amount will be made. NBFCs: Typically, an NBFC's moratorium period is equal to the course period plus an additional 12 months. However, during this moratorium time, the borrower must pay a simple interest sum or some partial interest (determined and disclosed throughout the loan process). After the moratorium period, installments that include some of the principal amounts begin. Conclusion A moratorium period is a great way to reduce the pressure of repayment on a student while studying. It's crucial to remember that this time period does not come with interest. As a result, the interest charged on the remaining balance of an education loan will be lower the earlier a student begins loan repayment. If there is any confusion regarding these financial issues or if any information or guidance is required, our team of financial advisors is constantly available for you. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Parents place a high value on their children's future prospects. They give up a lot of things to make sure their kids are happy. The most important expense that a parent of a daughter should focus on is their higher education. Since education is highly expensive, browsing for the best investment plan for girl child in India is a must and can help you make the most of your savings for your daughter! Sukanya Samriddhi Yojana Parents of a girl child are the target audience for Sukanya Samriddhi Yojana (SSY), a government-sponsored savings and investment program. 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. The SSY program is an essential part of the Beti Bachao, Beti Padhao project. The investment in this program is open to parents of girls under the age of ten. The SSY program investment is locked in for 21 years post account opening. However, after the account is opened, the parent is allowed to invest for a total of 15 years. 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 max 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. Benefits and features To open and manage the SSY account on behalf of a girl under the age of 10, the girl's parents or legal guardians must be present. The account operational power will automatically transfer to the girl child once she turns 18 years old. Benefits from the account must always go to girls. For each girl kid, just one SSY account may be opened. There can be a max of two SSY accounts per family. In exceptional cases where an SSY account is formed for the first girl child and the subsequent order includes twin girls or more, they are permitted to open further SSY accounts. Any amount between ₹250 and 1.5 lakh can be invested each fiscal year. The account has a 15-year payment term. For FY 2021–22, the interest rate on the SSY account is 7.6% p.a. Get an exemption from paying income tax on the amount invested, the interest collected, and the amount due at maturity. Additional read: Investment plans in India for one year Children Mutual Funds The goal of children's mutual funds is to raise money for different life events like further education and marriage. Mutual funds that are balanced or hybrid are categorized as these funds. Children's mutual funds can only be purchased under the child’s name (minor). Mutual funds for children often have a lock-in duration of 18 years. Depending on the equity exposure, these funds are categorized as hybrid-debt oriented or hybrid-equity oriented. They are regarded as hybrid equity if the equity risk is 60% or more; otherwise, they are regarded as hybrid debt. Benefits and features On behalf of the children, parents or legal guardians may invest in this plan. Not just for girl children. The investment's profits can be utilized to pay for your children's college and weddings. Depending on the sort of fund you select, there can be a lock-in period. To earn better returns, select equity-oriented hybrid or balanced funds. To achieve more consistency and moderate returns, use debt-oriented investments. Additional read: Factors of investing Sukanya Samriddhi Yojana vs. Children Mutual Funds The table below will give you a proper comparison between SSY and children's mutual funds. FactorSukanya Samriddhi YojanaChildren Mutual FundsAccount managementUp until the girl is 18, her parents or legal guardians can manage the account; after that, she takes over management.Owners of the investment account are either parents or legal guardians.ReturnsFixed (currently at 7.6% annually)Not fixed as the market keeps fluctuatingNumber of accountsMax 2 accounts for a family that has 2 or more girl childrenNo restrictionRiskRisk-free because the plan is backed by sovereign guaranteesRisky, especially when the market is down.Lock-in period21 years after opening the accountTill the child turns 18 years of ageInvestment limit₹1,50,000 a yearNonePremature withdrawalAllowed only when the girl child turns 18 years of age3 years after the day of account opening.Maintenance costNoneExpense ratio charged yearly US Stocks US Stocks are considered one of the best investment plans for girl children in India. Suppose you want to send your daughter to study in a foreign country and start saving for it when she is young with a time period of 10 years. Considering the time period you have and the appreciating value of the dollar against the rupee, you will not only be able to build a healthy corpus by investing in US dollars. But you will also gain better purchasing power because your returns will be in dollars. US stocks are one of the most underexplored investment plans for the girl children in India and can be a great tool to save up money for goals like higher education which is becoming expensive every day! Conclusion It is always a good idea to plan ahead, especially when it comes to your children's future. Consider your risk tolerance and goals before choosing between the SSY and children's mutual funds. Children's mutual funds are recommended if you are willing to take some risk; if not, investing in SSY makes more sense. You can invest in one or all of the best investment plans for girls in India! Whether you pick mutual funds, SSY, or US dollars, make sure to make the most of your savings and build an education fund for your child that can help them achieve their dreams. Consult an expert advisor to get the right plan TALK TO AN EXPERT