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March 1, 2024

The Ultimate Guide to Best Child Investment Plans to Invest in India

ultimate guide to child investment plans

When it comes to quality education, Indian parents leave no stone unturned. To safeguard your child’s future against all odds, you need a child investment plan.

With the growing cost of education, saving for multiple goals like school, higher education, college, marriage, and house, and keeping up with different education needs like gadgets, school trips, books or the best child education plan is becoming harder for Indian parents.  

A child investment plan helps you manage all these expenses timely and seamlessly. It helps you create a solid plan based on your child’s unique goals.

With a good investment plan, you not only secure their tomorrow but you save money in terms of taxes and reduce the looming threat of financial stress on your family. In this blog, we cover all you need to know about the best saving plan for your child and how easy it is to secure your child’s bright future!

Child Investment Plans – A Guide

The entire blog is divided into chapters for you to easily browse!

  • Chapter 1: Best Child Investment Plans  
  • Chapter 2: Importance of Child Investment Plans  
  • Chapter 3: Benefits of Child Investment Plans  
  • Chapter 4: The right time to invest in child investment plans  
  • Chapter 5: Key milestones to plan for child investment plans  
  • Chapter 6: Types of Child Investment Plans 
  • Chapter 7: Child Investment Plan Calculators   
  • Chapter 8: How to choose the right child investment plan

There is no better gift that a parent can give to their child than the promise of a secure future.

There are critical aspects that a parent should never ignore like the rising cost of education, stationary, books, medical expenses, etc. 

Here are some of the best-saving child education plans: 

  • UTI CCF – Investment Plan – Growth Direct child plan
  • Tata Young Citizens’ Fund Direct-Growth Child Plan
  • HDFC Children Gift Fund Direct Plan Child plan
  • Axis Children’s Gift Direct No Lock in Growth Child plan
  • SBI Magnum Children’s Benefit Fund Direct-Growth Child plan
  • Aditya Birla Sun Life Bal Bhavishya Yogna Direct-Growth child plan
  • LIC MF Children Gift Fund Direct Plan Child plan

1. UTI CCF: Investment Plan: Growth Child investment plan 

The fund is investing predominantly in equity and equity-related instruments across market capitalization. The fund has invested 98.21% in stocks, 0.12% in debt, and the remaining 1.66% in cash.

The fund has a diversified portfolio that consists of 55 stocks. The fund follows a growth style of investing which means that the fund invests in stocks with high growth potential. The fund has given consistent performance over the period. Parents who want to invest in a child’s education investment plan can consider this as one of the options.

2. Tata Young Citizens’ Fund Growth Child investment plan  

The fund is investing predominantly in equity and equity-related instruments across market capitalization. The fund has invested 97.88% in stocks and 2.12% in cash.

The fund has a diversified portfolio that consists of 55 stocks. The fund has given consistent returns with lower volatility. Parents can consider this plan as one of the child’s investment options to save for the best child education plan. 

3. HDFC Children Gift Fund Plan child investment plan: (HDFC investment plan for child)

The fund is investing has invested in different asset classes including equity and debt. The fund has invested 66.88% in stocks, 24.67% in debt, and the remaining 8.45% in cash.

The fund has a diversified portfolio which consists of 46 stocks and 16 bond holdings. The fund follows a growth style of investing which means that the fund invests in stocks with high growth potential.

The fund has given consistent performance over different trailing periods.

4. Axis Children’s Gift No Lock in a Growth Child Investment plan  

The objective of the fund is to generate income by investing in debt & money market instruments along with long-term capital appreciation through investments in equity & equity-related instruments.

The fund has invested 70.08% in stocks, 18.84% in debt, and the remaining 11.08% in cash. The fund has diversified its investment in different asset classes to minimize the risk and maximize the returns.

The fund’s focus is to reduce volatility and enhance returns.

5. SBI Magnum Children’s Benefit Fund Growth child investment plan 

The objective of the fund is to provide the investors an opportunity to earn regular income predominantly through investment in debt and money market instruments and capital appreciation through an actively managed equity portfolio.

The fund has invested 22.25% in stocks, 48.05% in debt, and the remaining 29.67% in cash. The fund has very low volatility as the major portion of the money is invested in debt and debt-related instruments.

Also, the fund holds AAA-rated quality bonds. The fund is the best saving plan for a child’s future as the volatility is low and has delivered good returns.

6. Aditya Birla Sun Life Bal Bhavishya Yogna Direct-Growth child investment plan  

The investment objective of the Wealth Plan is to seek the generation of capital appreciation by creating a portfolio that is predominantly investing in equity & equity-related securities and debt and money market instruments.

The fund has invested 98.64% in stocks and 1.36% in cash. The fund has invested across sectors and follows a growth style of investing with a major portion invested in large-cap companies.

Parents planning to save for their child’s future can consider investing in this fund.

7. LIC MF Children Gift Fund Child investment plan – (One-time investment plan for a child in LIC)  

The primary investment objective of the fund is to seek to generate capital appreciation & provide long-term growth opportunities by investing in a portfolio constituted of equity securities & equity-related securities and the secondary objective is to generate consistent returns by investing in debt and money market securities.

The fund has invested 86.36% in stocks, 3.82% in debt, and the remaining 9.82% in cash. The fund is a consistent performer and has delivered good returns over the period.  

Importance of child investment plans

Child Investment plans for children help you and your child prepare financially for growing education costs, unanticipated illnesses, and bad circumstances.

Planning for your child’s future must begin as soon as feasible. This lengthens the time frame over which your assets can increase and balances the associated risks.  

1. Funding for children’s education 

As your child gets older, a significant portion of your resources will go into paying for your child’s education, thus preparing for higher education is essential for guaranteeing their future.

You may generate the money required so that your child can follow their ideal job by investing in their education. With college costs increasing, every day matters when it comes to being financially prepared for your child’s education.

Get in touch with our experts at EduFund and you can save up to 2.5 Cr by starting today.  

2. Flexibility to withdraw part of funds 

By selecting a child investment plan that gives you the freedom to withdraw funds as per your kid’s requirements, you may easily access a portion of your funds while the remainder of your investments continue to grow. 

3. Protection against uncertain times 

Many of the best child education plans have advantages including premium waivers. This makes it such that, in the sad event that anything bad happens, future premium payments won’t be necessary.

The investment yields a lump sum payment upon maturity and grows without the requirement for premium payments. This guarantees that no matter what, your child’s dreams are protected. 

4. Different investment options for your child 

Fixed deposits and other traditional products might not be enough to cover your child’s college costs. Other products like equities funds, balanced funds, and shares should be taken into account.

You can select one of the following investment strategies depending on your time frame: 

The best option is debt mutual funds if your child will need the money within five years. Such funds can provide liquidity while producing returns that are more than the rate of inflation. 

You can mix several financial products for long-term aims. You have the option of investing in gold, stocks, and debt.

Although exposure to the stock market is hazardous, investing in equities gives investors the chance to generate larger profits over the long run. 

PPF is one of the greatest investment options for financing a child’s education. To establish a sizable corpus, you must begin this early and invest steadily. 

Numerous insurance providers provide a range of kid-focused solutions. When your child needs the money to pursue further education, you may choose to implement more mature policies. 

5. Investment strategy for children’s investment plan 

List concrete objectives from the outset, such as the child’s desired schooling and associated fees.

This will enable you to estimate how much you can afford after paying all of your usual bills and how much you need to save each month.

You must keep in mind, though, that loans can also be used to pay for education. Saving for your child’s education does not, therefore, require you to forgo other expenses like healthcare and retirement.

Reduce your stock exposure as the financial objective approaches to lower the chance of negative market moves.

Benefits of child saving plans

1. Financial security  

Savings plans for kids offer a lump sum payout in the form of the claim amount in the event of an unexpected circumstance.

The plan is still in effect, and the life insurance company is responsible for all future premium payments. The payoff received after the insurance period guarantees that your children’s wishes will always come true. 

2. Tax benefits

Additionally, these plans provide Section 80C  tax advantages on premiums paid up to INR 1.5 lakh in a fiscal year.

According to Section 10(10D) of the Income Tax Act of 1961, the pay-out received after the policy term is likewise tax-exempt. 

3. Education costs benefits  

Almost all parents, when asked about their top worry for their child’s future, will quip about how expensive schooling has become in the modern world.

It costs money to send your child to a decent school. Additionally, as the years pass, your child could opt to pursue other education that would cost the earth.

Your financial load will be lessened if you make wise financial decisions and enroll in a kid insurance plan that matures throughout these seasons. 

4. Withdraw part of the funds 

After the policy term, child plans provide maturity benefits in the form of a lump payment. You may choose a maturity date based on how soon your child will require money in the future.

Your investment accumulates a tidy corpus over the course of the term, which is sufficient to pay for your child’s dreams. 

5. A habit of saving 

As we have indicated, childcare plans offer the benefits of both insurance and investment. Go back to your financial plan before purchasing a child care plan and estimate your financial needs at each stage of life.

Determine the expenses you are saving for, such as elementary and secondary education, college, a wedding, etc. Additionally, evaluate your other obligations, such as a mortgage, and decide on an insurance plan that perfectly complements your financial strategy.

Although it may at first seem like a nuisance, making regular premium payments will eventually become a habit that will serve you well as your child becomes older. 

The right time to invest in child investment plans   

The best time to start investing in the best child education plan is right now since there are several advantages to beginning early. The sooner you begin investing, the more you can eventually give your kids.

Your biggest ally is time, so even if you just save a tiny amount today, it will eventually grow into a sizable corpus.  

The power of compounding should be fully utilized in order to maximize the profits that will be created on any current investments you make. Starting to save for your children as soon as possible is a wise move.

You may make sure that every monetary element of their lives is taken into consideration in this way. But it’s never too late to start saving.

Even if you start saving while your kids are young (1 to 8 years old), you can amass enough money to support them as they age and their expenditures rise. 

Here are some factors to help you determine the right time to invest in child investment plans:   

a) Time Horizon

When do you need the invested money and how long can you stay invested?

Based on your time horizon and risk assessment you can take the help of a financial advisor to figure out the best child investment plan for your child’s needs. The benefits are often larger the longer the time horizon. 

b) Risk Assessment

What is your risk appetite? This is a very common question every investor should ask themselves before investing their money in any investment.

Are you risk-averse or are you willing to take a risk? Based on your answer, you can figure out the best investments.   

c) Cost of Education

The average cost of your child’s future education must be considered as the second element. Costs for postgraduate education are sometimes greater than those for graduation, however, this varies per school.

You should also think about whether you want your child to have a local education or a global education.

You could also consider your child’s graduation in your own nation as well as their subsequent post-graduation in a foreign nation. 

Key milestones to plan for child investment plans 

There are key milestones that you need to focus on when planning your child’s investment plans. What do key milestones mean?

It means certain events for which you need to be financially prepared like your child’s school, college, and marriage. It is important to keep these events in mind before allocating funds toward a child investment plan.  

1. School 

When budgeting and preparing their investment for their child’s education, parents should expect the primary school tuition price, and expenses like uniforms, books, extracurricular activities, transport fees, yearly vacations, picnics, etc., to be between (INR 1.25 – 2 lakh per year). 

2. Higher education 

The yearly cost of study and living is the first and most important element that one has to take into account before enrolling in college.

Universities offer housing on their campuses for both domestic and international students. However, if the institution you have selected to attend does not provide this amenity, you may simply obtain personal accommodations.

Following is the estimated cost of studying UG and PG courses from India and abroad:  

  • Govt Colleges in India will cost around Rs 5-6 lakhs. 
  • Private Colleges in India will cost around Rs 8-10 lakhs. 
  • Studying Abroad can cost up to INR 1 crore. 

3. Marriage 

Although it is stated that marriages are created in paradise, they take place on Earth and require a lot of money to make them memorable.

You arrange your “Big Day” to be a special occasion for both you and the family that attend the ceremony. The Indian wedding market is presently worth over Rs. 1,000 crores and is expanding quickly, at a pace of 25–30% annually.

The average cost of a wedding in India ranges from INR 20 lakhs to 5 crores. According to estimates, the average Indian spends one-fifth of his lifetime earnings on his wedding.

Also, you need to assemble a skilled team, including event planners, florists, caterers, and fashion designers, to make your special day extraordinary.

Types of Child investment plans for girl and boy child

There are several types of child investment plans to consider your child’s unique goals. Based on your risk assessment, time horizon, and your child’s education goal, you can choose one or more child investment plans to give your child an edge. Here are the different types of child investment plans you need to consider:  

1. Sukanya Samriddhi Yojana 

Sukanya Samriddhi Yojana is a unique child investment plan for parents of a girl child. This is offered by the Indian government to encourage parents to save and invest in their daughters early on.

The main objective of the SSY program is to encourage parents to make substantial financial commitments to a strategy for their daughters’ future education and marriage. 

Parents who have girls under the age of ten can invest in the SSY program. The SSY program investment is locked in for 21 years post-account opening.

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 maximum investment of ₹1,50,000 may be made. SSY accounts can be opened and utilized at any location of an accredited bank or the India Post Office. 

2. Equity Mutual Funds 

When your child is still small and you have at least 15 to 20 years till retirement, it is excellent to begin investing in equities mutual funds.

This enables you to withstand shocks like stock market collapses and volatility. Equity investing is not for everyone since it demands technical expertise and the capacity to keep current.

To choose equities mutual funds is, therefore, the better option.  

These are managed by professionals who are aware of how to choose the least hazardous stocks while still making sure that your money grows over time.

You may put together a portfolio of equity mutual funds just for your child’s schooling. When your child is 4 or 5 years old, you may accomplish this by creating an account specifically for children and choosing Systematic Investment Plans (SIPs) in risky products like equities mutual funds.

Then, when you and your child become older, you can take a more conservative approach. 

3. Public provident fund (PPF) 

Parents continue to favor PPF even after the government lowered interest rates on provident fund accounts.

Because you cannot take the corpus until the conclusion of the 15-year maturity period, PPF deposits promote discipline. You may build your corpus for educational purposes because the principle, interest, and total maturity amount are all tax-free. 

You may rest certain that your money is secure because the government backs PPFs. However, because PPFs’ official interest rates have already decreased, relying only on them can result in a cash flow problem.

Build your portfolio to provide larger returns to prevent this. For your child’s future, choose a well-balanced investment portfolio that includes both PPFs and Unit Linked Insurance Plans (ULIPS). 

4. Direct Equity 

Direct equity, sometimes referred to as stock investing, is perhaps the most effective investment strategy. You get a stake in a company when you buy stock in it. 

You are personally responsible for funding the business’s growth and advancement. You need to have the necessary time and market knowledge to make money from your investment. 

Publicly traded companies provide their stocks on reputable stock markets. Stocks are the finest long-term investments. You must actively manage your assets since several economic and commercial factors influence shares.

You must also be aware that profits are not guaranteed, and you must be willing to assume the associated risks. 

5. Fixed Deposits 

Banks and other financial organizations provide FDs as one sort of investment. You earn a fixed rate of interest for a predetermined amount of time after making a deposit.

Compared to mutual funds and equities, fixed deposits offer complete capital protection and guaranteed returns. 

You give in, though, since the rewards remain the same. The banks establish the interest rate on fixed deposits by the RBI’s policy review decisions, and it changes depending on the status of the economy.

Despite being typical locked-in investments, fixed deposits are commonly accepted as collateral for loans or overdraft facilities by investors. A fixed deposit with tax advantages and a 5-year lock-in is also available. 

6. Employee Provident Fund 

The EPF is one of the investment vehicles geared toward retirement, and it enables salaried individuals to take advantage of a tax credit under Section 80C of the Income Tax Act of 1961.

EPF contributions are often provided by the employer in addition to employee deductions that are typically made as a percentage of monthly wages.  

Once it reaches maturity, the EPF withdrawal corpus is entirely tax-free. The Indian government also determines the EPF rates each quarter and provides a guarantee on your EPF deposits. 

7. US stocks 

By purchasing US stocks, you may gain exposure to the most well-known brands, like Nike, Starbucks, and other well-known companies like Tech Giants Google, and Apple.

These businesses are well-known and present around the world. You may diversify your portfolio by investing in such businesses.

Over the previous five years, the US dollar has increased. You acquire US Dollars when you invest in US stocks. When these assets are kept for a lengthy period, the value of your investment rises about the USD exchange rate. 

8. National Pension System  

The National Pension System is a more modern alternative for tax-saving investments (NPS). NPS plan subscribers must stay committed until retirement and can anticipate higher returns than those from PPF or EPF.

This is true since the NPS offers plan choices that include stock investments. A portion of the tax-exempt NPS maturity corpus must be utilized to purchase an annuity that will give the investor a regular pension. 

Child investment plan calculators  

By using different child investment plan calculators, you can prepare yourself for the increasing cost of education.

Child investment plan calculators like the mutual fund, SIP calculator, lumpsum calculator, and step-up calculator enable parents to make informed decisions about their child’s investment plans.

These calculators will help you figure out how much you need to save every month and your one-time investment based on your investment choice.

Let’s find out in detail how child investment plan calculators work. 

1. Mutual fund calculator

A mutual fund calculator is used to calculate and estimate the returns yielded via investing in mutual funds.

There are two ways in which you can invest in mutual funds: lump sum (one-time investment method) and SIP (systematic investment at pre-decided intervals).  

2. Lumpsum investment calculator

When you invest in a mutual fund through the lump sum method, it means a single, bulk amount has been invested into a mutual fund scheme in one go.

The user must enter the investment amount, duration, and expected return rate to get the estimated future value of the investment. The calculation is based on the following formula:  

Future Value = Principal * (1 + r/100)^n where:  

n = duration of the investment  

r = Rate of return  

For example, if you have invested a lumpsum amount of ₹50,000 in a mutual fund scheme for three years and have estimated the rate of return at 8% per annum, the future value of your investment is ₹62,986.

3. Systematic Investment Plan (SIP)  

SIP is a method of investing in mutual funds that enables an individual to invest a fixed amount in a mutual fund scheme at regular intervals (monthly, quarterly, or semi-annual) instead of making a lump sum investment.

The amount can be as low as ₹500 a month depending upon the selected fund. The aim of investing in mutual funds through SIP is to create wealth in the long run and to invest systematically over a long period.  

4. SIP Calculator  

The SIP calculator helps estimate the returns you would earn on your SIP investments.

The user must enter the SIP frequency (monthly, quarterly, or semi-annual), the amount to be invested in each SIP, the investment duration, and the expected return rate to get the estimated future value of the amount accumulated at the end of the SIP tenure.  

The calculation is based on the following formula:  

FV = P [ (1+i)^n-1 ] * (1+i)/i where:  

FV = Amount you receive upon maturity  

P = Amount you invest at regular intervals  

n = Number of payments you have made  

i = periodic rate of return  

Suppose, you invest ₹500 per month for 12 months at an annual rate of interest of 12%, the monthly rate of return will be 1% (which is 12% ÷ 12).

Hence, the estimated future value of the amount accumulated at the end of the SIP tenure is ₹6405.

How to choose between Lumpsum or SIP investment?  

Both are great tools of investment for all types of investors. If you have a surplus and wish to invest the amount in a well-researched fund then the lumpsum tool is a great idea, it allows you to pool your money immediately.

Another method is SIP which is extremely useful for investors with limited resources. It allows you to invest small sums of money at pre-decided intervals in a chosen mutual fund.

The greatest benefit of investing via SIP is that it builds wealth in the long, and gives you the flexibility to choose the amount you wish to invest and your chosen timeline.   

Another benefit of SIP investment is that you can stop it at any given moment or increase the amount if you have a surplus.

A SIP investment works as a reverse EMI option where you have the flexibility to invest a portion of your income into your chosen fund and cultivate a disciplined manner of investing.   

Suppose you wish to start saving for your child’s higher education and do not have a surplus amount to start with.

This is where a SIP comes in, it allows you to invest a nominal amount in one or many mutual funds so that you do not miss out on the opportunity of saving and investing for your child’s future.   

Investors can opt for both tools. You can start an SIP and place lumpsum orders on certain funds whenever you have a surplus of funds so that you can achieve your goals faster and more efficiently.

5. Step-up SIP calculator 

Step-up SIP, also known as top-up SIP, is an automated facility through which SIP contributions can be increased by a predetermined amount, or a fixed percentage, at periodic intervals in sync with your financial goals and level of income.   

The step-up SIP calculator gives you the future value of your SIP investments, increasing periodically by a given percentage. The user must enter the SIP frequency, amount to be invested in each SIP, investment tenure, the growth percentage of SIP investment, and the expected return rate to get the estimated future value of the amount accumulated at the end of the tenure.  

If you want to step up your SIP in the future, it’s important to activate the option on your chosen fund and find the minimum SIP amount you may need to invest if you want to avail of this option in the future.

For example, most funds allow you to activate the step-up SIP option if you invest a certain amount recommended by the fund. This is a great method to periodically increase your investments as your income appreciates and your goals shift.   

A college cost calculator powered by EduFund is another tool to help with a child’s investment plans. The college cost calculator helps you as a parent to find out the future cost of studying and living in a new country and city.

For instance, you want to send your child to the US to study MBA in 10 years. Fill out these details onto the college cost calculator and the calculator will tell you the exact cost of studying 10 years from now.  

It accounts for inflation and increases in fees to help you save for the right amount so that your child’s dreams can soar high! Stop guessing, click here to find out how much you need for your child’s college.

How to choose the right one-time child investment plan? 

Choosing the right child investment plan is the toughest decision you will make as a parent. To help you simplify this process, here is a small checklist to guide you: 

1. Know your financial goals  

You may have multiple goals to achieve. But prioritize the goals that are important for you and have to be achieved within a restricted timeline.

Always know what you are saving for. Remember to quantify your goal.

How can you quantify the goal? Know what you are going to be spending on that goal by adjusting for inflation for the time period when you will be achieving that goal. In this case, the goal would be the child’s education.

Now knowing what costs you are going to incur for your child’s higher education can be easily determined by using EduFund’s College Cost Calculator.  

2. Find out your risk profile  

Based on the phase of life you are in and the career stage you are in, you can figure out your risk profile.

Usually, the risk profile can be determined by knowing what is time left to achieve the goal. Usually, short-term goals comprise less risky investments whereas long-term goals comprise very high-risk investments mainly for long-term capital appreciation.  

3. Know your investment horizon  

Always know what is the timeline for your investments. By knowing the time you have left for your investments, you can always plan better to have a proper time frame for your investments.

Having a set timeline helps you prepare well in advance to make your investments and helps you achieve the goal more efficiently by knowing what amount you have to set aside periodically to achieve your goal.

For example, equity-based education investment plan options are suitable for long-term investment horizons, whereas debt-based options are better for short-term investment options.  

4. Analyze different investment options  

Always perform a thorough analysis of any investment option before putting your money in it. Just don’t invest in any fund or instrument purely based on past performance.

Other factors to consider while evaluating investment options are fundamentals of the fund, underlying asset or portfolio holding of the fund, cost of investing or expense ratio of the fund, downmarket capture of the fund, etc.

All this will help you know the suitability of the best saving plan for your child for your portfolio.  

5. Have a goal-based planning approach  

Having a goal-based planning approach helps you tick all the boxes at once.

It helps you plan your investments in such a way that it creates a well-diversified portfolio with proper periodical rebalancing to help reduce the overall portfolio volatility.

A goal-based plan, takes your education investment plan objective, risk appetite, time horizon, and your disposable income into consideration and   

6. Have an exit strategy  

Have a well-planned exit strategy. If you don’t have proper liquidity at the time when you actually need the money, then you fall short of achieving your goal!

But when you have a properly planned exit strategy, it ensures that one, your portfolio doesn’t have high volatility towards the end of your investment horizon, and two, your portfolio has the liquidity to achieve the goal you have planned for.  

7. Choose the right investment advisor  

Are you still confused about all the best saving plans for your child? Do not worry! This is when an Investment Advisor comes in to help you achieve your goals and make the entire investment journey smooth for you.

An Investment Advisor understands your goals, your timeline, your requirements, etc., and formulates a customized plan to get you closer to achieving your goal.

The Advisor also periodically rebalances your portfolio so that your investments do not face very high risk and volatility. Choosing the right Investment Advisor can be a deal breaker for you to achieve your financial goals, so make the right choice after completing the evaluation.

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Immigration opportunity  Since overseas students spend much time in Canada, they will become potential Canadians. They are given adequate opportunity to comprehend and adopt Canadian culture while studying and up to three years to recognize Canadian work culture. What it ends up in is likely to be prospering once the studies are completed. Indian students are opting for Canada for their university education, and interest in Canada is growing significantly yearly. https://www.youtube.com/shorts/x9B8449Iuw4 EduFund The number of Canadian college graduates between 2000 and 2019 From 2000 to 2019, the number of university graduates in Canada increased Number of postsecondary graduates in Canada in 2019, segmented by degree type Better paying jobs for children of Canadian immigrants According to a Statistics Canada report, the children of economic immigrants attend school longer and have higher-paying jobs than the typical Canadian-born employee. By the age of 30, the children of economic immigrants in Canada earn more than the average Canadian worker by 29.3%, commanding a median annual wage of $55,500 versus the $42,940 made by the average Canadian employee of the same age. Economic immigrants' children can command higher wages because they attend college or university at a higher rate than Canadians. International students in Canada International students enrolling in formal education increased from 142,170 in 2010/2011 to 388,782 in 2019/2020 in just ten years. As a result, by 2019/2020, the amount of international enrolled students improved from 7.2 percent to 17.8 percent. Within ten years, one out of every ten international students arrived in Canada in 2000 or became a landed immigrant. As a result, new ideas are being inspired, innovation is being boosted, and people-to-people relationships are being strengthened, all of which are important for international commerce and worldwide trade. The number of international students intending to study at the secondary and primary school levels has been declining in recent years. Meanwhile, that has been countered by an increase in the percentage of individuals planning to study for a college or master's degree. https://www.youtube.com/watch?v=NZeyrQNJ9Kc More Advantages of Studying in Canada 1. Affordable and Quality Education Compared to other options such as the US and the UK, Canada offers a highly affordable and quality education for its students. Education fees may differ depending on your chosen university, but you can still save a lot of money while studying in Canada. These universities and colleges offer high-quality academic programs and research opportunities and are consistently ranked among the top global institutions.  2. Cost of Living A single person's monthly cost is approx Rs. 83,307.6 (1,347.1C$) excluding rent.  Most institutions offer courses with tuition fees starting from CAD 15,000 (Rs. 9,03,999). The cost of living for a single student is around 880 CAD (Rs. 53,034) per month. Monthly expenses including rent are approx $1,708 per month per person and $3,911 for a family of four.  If we count accommodation, food, clothing, groceries, health, transportation, entertainment, travel, etc., a student will require approx Rs. 9,00,000 to Rs, 22,00,000 to cover all expenses. (CAD 18,340 approx). To counter this, students can apply for an International Student Identification Card upon their arrival in Canada. This provides many benefits to the global student community such as discounts for shopping, culture, food, access to student services and facilities internationally, etc. It helps prove your student status in over 130 countries since it is the only internationally recognized proof of full-time student status endorsed by UNESCO.  3. Standard of Living After reading about the cost of living in Canada, you might say it is expensive, however, the standard of living here makes it all worth it. High-quality education, lucrative job opportunities, cultural diversity, and accessibility of public services on par with its own citizens make Canada one of the countries with a high standard of living.  4. Safety and Security Canada takes its student safety very seriously, particularly for international students. Students living on campus have a 24-hour security measure in place for them. Canadian citizens on the other hand are warm and welcoming and respect diverse cultures making these students feel comfortable in their home country. There are many safe options for student accommodation outside the campus as well.  5. Work opportunities for students  The study permit in Canada allows international students to work up to 20 hours/ week, which helps them supplement their income. Apart from the opportunity to earn extra income, students also get to experience the professional environment of working in Canada. However, be mindful of not violating the terms of this study permit which can lead to loss of student status and permission to work in the future.  6. Job Opportunities Canada provides a Post Graduate Work Permit (PGWP) to its international students which allows them to work for up to 3 years after the completion of their course. However, a PGWP is issued only if you have graduated from a Designated Learning Institute. Also not all Designated Learning Institutes and programs of study make you eligible for PGWP. There are several other criteria you need to fulfill. Go through them carefully then make an informed decision.  Several immigration policies also allow students to apply for permanent residency and work while they study.  FAQs How much does it cost to study in Canada? The cost of studying in Canada depends on your chosen institution, your type of education/ course, as well as your living expenses. However, the cost would be approximately CAD 36,000 (INR 22,00,000) a year for international undergraduate students and CAD 21,100 (INR 13,04,434) a year for international graduate students.  Is it safe for female students to study in Canada? According to the Canadian Bureau of International Education (CBIE) annual international student survey of 2021, 79.2% of respondents consider Canada to be a safe and stable country. Plus, the on-campus 24-hour security measure allows you to be tension-free regarding the safety of your child. So, yes it is safe for girl students.  Which are the best places to study in Canada? Montreal, Toronto, Vancouver, Ontario, and Quebec City are some of the best places to study and work in Canada. These places also offer several part-time job opportunities for international students.   What is a Letter of Intent (LOI) and do I need to submit it to study in Canada? A Letter of Intent is a document that states your reasons for studying in Canada, your professional and academic goals, and your past qualifications in your home country.  Yes, you need to submit the LOI to acquire a study permit in Canada.  Can students work while studying in Canada? Yes, the study permit in Canada allows you to work for 20 hours/ week. You have to be careful not to violate the terms of the study permit.  One of the main reasons students like to study in Canada is the high quality of education. Many Canadian universities offer cutting-edge innovative exploration and new technologies. Canadian universities typically hold the highest international rankings and offer amazing placements and a chance to live in the world’s most peaceful cities in the world. Hence, considering Canada for your child's higher education is a good choice. TALK TO A STUDY ABROAD EXPERT
10 Reasons Why You Should Study in the USA

10 Reasons Why You Should Study in the USA

The USA has emerged as a top destination for ambitious students, and for good reason! This blog explores ten compelling reasons why studying in the USA can be a transformative journey, opening doors to academic excellence, personal growth, and a bright future. 1. World-Class Education: The USA boasts some of the world's most prestigious universities, renowned for their exceptional faculty and rigorous academics. You'll find innovative programs designed to challenge and inspire across diverse disciplines, from engineering and medicine to humanities and business. Many universities prioritize cutting-edge research, offering students the opportunity to learn alongside leading minds in their fields. 2. Globally Recognized Degrees: A US degree is a passport to success. Recognized and respected by employers worldwide, a US education equips you with valuable knowledge and skills that will set you apart in the global job market. Whether you seek a career in India or internationally, a US degree opens doors to exciting opportunities. 3. Flexible Education System: Unlike rigid educational structures, US universities offer a refreshing level of flexibility. The credit system allows you to tailor your studies, choosing courses that align with your interests and career goals. This freedom to explore different fields before specializing allows you to discover your true passion. 4. Diverse and Inclusive Environment: US campuses are a melting pot of cultures, fostering a vibrant and inclusive learning environment. You'll have the opportunity to learn alongside international peers, broadening your perspective and developing valuable intercultural communication skills. This diverse environment prepares you to thrive in an increasingly globalized world. 5. Practical Learning Opportunities: US universities go beyond theory, offering a wealth of practical learning experiences. Internships, co-ops, and hands-on projects allow you to apply your knowledge in real-world settings. This practical experience enhances your resume and makes you a more competitive candidate for future jobs. 6. Cutting-Edge Technology and Resources: US universities are at the forefront of technological innovation. State-of-the-art facilities, advanced research labs, and access to cutting-edge software and equipment provide an unparalleled learning environment. Imagine conducting research in world-class facilities and having access to the latest technological advancements in your field! 7. Development of Life Skills: A US education is more than just academics. Universities cultivate essential life skills, fostering independence, critical thinking, and strong communication abilities. You'll learn to manage your time effectively, collaborate with diverse teams, and express yourself confidently. This holistic approach empowers you to succeed not just in academia, but also in your personal and professional life. 8. Vibrant Campus Life: Step beyond the classroom and immerse yourself in the rich tapestry of campus life. US universities offer a vast array of clubs, organizations, events, and activities catering to every interest. From sports and cultural clubs to student government and academic societies, you'll find opportunities to explore your passions, make lifelong friends, and contribute to a dynamic campus culture. 9. Scholarship and Financial Aid Options: Don't let financial concerns hold you back! Many US universities offer scholarships and financial aid programs specifically for international students. EduFund's expert advisors can help you navigate the financial aid process and explore scholarship opportunities to make your dream of studying in the USA a reality. 10. Post-Graduation Prospects: The Optional Practical Training (OPT) program allows international students to gain valuable work experience in the USA after graduation. This practical experience can strengthen your resume and enhance your career prospects. For some students, OPT can even lead to exciting job opportunities in the US after graduation. Wondering about how to finance your US education? Join our WhatsApp Community to know more! Embrace Your American Dream! Studying in the USA is an investment in your future, offering academic excellence, personal growth, and a chance to build a successful career. At EduFund, we're here to support you every step of the way. Contact our advisors today to explore your options and turn your dream of studying in the USA into a reality!
11 reasons to study in Australia

11 reasons to study in Australia

Australia, the land of incredible opportunities and job scopes is known for its top-class educational facilities. It is an excellent choice for international students who want to study abroad and gain vocational and technical education innovatively and effectively. There are several reasons why children who study in Australia have found the experience academically and emotionally rewarding. Let us go through some of them. Get an education loan for Australia at just 9.85%! https://www.youtube.com/shorts/Ew2MC3RCo68 https://www.youtube.com/shorts/Gs1p_6rVuI8 Important reasons to study in Australia 1. World-class institutions Out of the top 100 global universities, the best-known six, including the University of Sydney and the University of Melbourne, are located in Australia. The world-class institutions offer international standards of education in fields like technology, finance, medicine, accounting, engineering, etc. The technologically-advanced classrooms, impeccable lectures, outstanding training facilities, and extensive support services are a magnet for international students who aspire to study abroad.  2. Teaching and learning process Parents should send their children to study in Australia because of a unique education system that supports innovative teaching and advanced learning programs. The strategies encourage students to become critical thinkers so that they can easily achieve their personal and professional dreams later on.  3. Globally-recognized programs The degree programs offered by Australian universities are authorized by the Australian Qualification Framework (AQF) and accepted by national and international agencies adding high value to the acquired qualification.  4. Affordability Both the college fees and the cost of living in Australia are affordable if someone has planned their finances well. The government also offers different earning opportunities to students that prove an immense help in meeting daily expenses successfully.  Additional read: Fund your child's master's in Ireland 5. Scholarships Lots of students want to study abroad but are unable to do as it is an expensive affair. In Australia, almost 300 million dollars worth of student scholarships are for grabs every year. If your child is one of the lucky ones who has managed to win a scholarship for higher education then they are up for a winning ride.  The Edufund App has a dedicated team of experts who provide support for children’s overseas education. They counsel students and their parents so that it becomes possible to apply for scholarships and make their dreams true.  6. Advanced research opportunities  Australia offers advanced country-based research opportunities to learners who want to boost their careers with help of research and development. Several universities spend a significant budget on R&D to ensure progress in different fields. They also offer fellowships to interested students to undertake research in their area of choice.   7. Easy access to student visas One of the major reasons why students prefer to study in Australia is because of the easy accessibility to a student visa. The process is simple and quick for applicants who have their health insurance and finances in order.  8. Gain work experience and earning opportunities along with studies Students in Australia are allowed to work 40 hours every two weeks or 20 hours every week during the semester and full-time during the semester break. This is a golden opportunity for students who want to gain work experience and earning opportunities along with their studies.  The minimum wage for part-time jobs is 17 dollars per hour and this earning opportunity is a blessing in disguise for students struggling to meet their financial needs.  8. Multi-cultural society Australia boasts of a multicultural society that promotes cultural diversity. This place is a boon for international students with diversified backgrounds who can easily find familiar people within the communities.  9. Safe environment According to the UN’s World Happiness Report, Australia is among the top 10 safe and happy places in the world. The government has a strong infrastructure in place that provides security and safety to all its citizens including domestic and international students all over the country.  10. Student support system The Australian government has an excellent student support system in place that provides help to international students facing any issues. The Federal Department of Education in Australia operates an easy-to-contact helpline that offers help to students with issues related to safety, accommodation, education or work, etc.  11. Numerous employment opportunities The career-focused programs offered by Australian universities offer extensive knowledge in different subjects. The diverse curriculum empowers students with the necessary skills to face challenges in the outside world and gain employment opportunities.  https://www.youtube.com/watch?v=TNVvKy460dQ Conclusion Australia has proved itself as one of the most welcoming education providers in the global arena. International students who study in Australia are attracted because of the interactive learning environment, globally-acclaimed universities, affordable educational programs, and scenic attractions. Moreover, the country is known to open new doors of opportunities that promote personal and professional growth. Consult an expert advisor to get the right plan TALK TO AN EXPERT
4 essential tips on investing in your child's education

4 essential tips on investing in your child's education

Life becomes easier and more manageable with planning. A very important part of a happy and balanced life is managing your finances well. This responsibility becomes manifold if you have a family to provide for. Prioritizing the prior planning of your child’s college education can make your retirement life effortless and stress-free. Put away savings to preserve wealth. Invest money to generate more wealth. At the end of the day, gaining that fine balance between your savings, investments, and spending habits is what will secure a beautiful future for you as well as your family. Here are some pro tips on how to invest and save for your children’s college education. 1. When to start? Timing is everything. The logic is simple - the earlier you start, the more wealth you can generate and accumulate. You may begin as early as the family planning stage itself. Even if you do not have a clear sight of the stream of academics your child might pursue later in life, it does not hurt to put away money. As your child grows up, they might decide upon what line of academics they want depending on their career goals. Your savings will come in handy in reassuring your child that you are perfectly prepared to back them in realizing their dreams as there will already be a considerable amount of funds they can count on. 2. Compartmentalise your savings The habit of saving money regularly is one of the healthiest habits one can inculcate. But mastering the art of saving requires self-regulation and a sense of organization. Putting away a bulk of money indiscriminately is not the most effective way of saving. Keep track of your expenses and your income; device upon an amount you can afford to put away as savings. Make a list of all the things you need to save for - emergencies, education, health, housing, and so on. Divide your savings accordingly. The act of compartmentalizing savings can also be effective in regulating your spending habits. You can also inculcate this healthy habit in your child from an early age by encouraging them to save money from their monthly allowances. 3. Consider different investment options Investing is always an improvement upon saving because investments can generate new wealth. Thus, it is not enough to just put away money as savings; you also need to allocate funds to certain investments that suit your monetary goals. There are different kinds of investment channels you can opt for. Some of us prefer fixed or recurring deposits while others want to generate more returns and go for mutual funds. Mutual funds can be of different types depending on the factors like the amount of risk, duration, return rates, etc. The mode of payment can also vary. For example, you can go for a one-time investment or you can choose monthly SIPs. Be well aware of all kinds of investment plans available so that you can choose the best one for yourself. 4. Invest in a global education Your savings and money made from investments will be especially useful when you send your child abroad to pursue a college education. Even if you are not sure about the possibility of global education in the future, it is always advisable to remain prepared for the same. Simply saving money is not enough. Investing is a better idea and in the case of global education, it can be beneficial to invest in foreign stocks. This is because the value of the Indian currency is forecasted to fall in comparison to other stable currencies in the world. This means that the cost of living and studying abroad will be way higher than the cost of living and studying in a new city within India. Once you set your financial goals, find out about investment schemes with international equity funds from countries like the US, so that you can make money in a more stable currency. Conclusion There can be several investment goals relating to different parts of your life like yourself, your spouse, relatives, housing and accommodation, health, gadgets, and emergencies. Mixing these up will only cause chaos and distress. Hence, it is important to think separately about saving for your children’s college education and indulge in smart investments. Consult an expert advisor to get the right plan TALK TO AN EXPERT
4 Reasons why you should have an EduFund

4 Reasons why you should have an EduFund

Why should you have an education fund dedicated to your child’s college education? Don’t you already have to worry about saving up for your home, your retirement, and any other emergency that may arise? With all these goals it might look daunting to have another fund for education as well. Is it such a big deal? Well yes, It is a very big deal! Here are the top 4 reasons why you need to start saving up for education, as soon as you can, even if your child is just 4 years old! 1. The cost of education will most likely jump (a lot!) education-cost-jump In India, the cost of education is increasing at a rate far higher than the inflation rate. According to a report by the National Sample Survey Office (NSSO) - between 2008 and 2014, the average annual private expenditure for general education (primary level to post graduation and above) shot up by a staggering 175 percent while during the same period, the annual cost of professional and technical education increased by 96 percent. ‍The expenses typically include course fees, books, transportation, coaching, and other related costs. A recent ASSOCHAM survey also reflected this trend -  parents are ending up spending almost 50% of their income on children’s education, today. Studying abroad provides more options to students compared to the highly competitive and increasingly expensive higher education landscape in India. However, getting admitted into a premier institute abroad requires students to shell out nothing less than a crore/per year, just for tuition fees. For e.g. Stanford’s tuition fee for its MBA program is USD 140000/year and which is more than one crore, considering the currency rates that are prevalent now. Even if you factor in an inflation rate of just 10%, it's going to cost double the amount to send your child to college, say 15 years later, than what it costs today. Whichever destination you might choose to send your child to college, the money that you are going to spend, just on tuition fees, will be very high. 2. To avoid dipping into your retirement corpus! retirement-corpus It is more prudent to maintain separate funds for your savings and your child’s education. ‍This is due to the simple reason that no one is going to give you a loan to take care of your expenses post-retirement. While your child may get a loan that will fund his/ her education expenses, you need to make sure that you and your spouse, are not dependent on one post your retirement. Hence, EduFund comes to the rescue! 3. Let your child be debt-free! Education loans are easily available from banks and other financial institutions and are attractive to many students who are not able to afford higher education – especially abroad. But then again, education loans are termed at extremely high-interest rates, not to mention the collaterals attached to them. In this scenario, having an education fund will help. Your child will not start her career with a debt burden hanging over her choice of job. And with the growing uncertainty in jobs due to the current global economic slowdown, there is no job security that assures steady income to pay off an education loan. 4. The Competition is just going to increase! The competition to get into the best colleges, foreign or Indian, has always been high. We all know the importance of studying well to get into the best colleges. But the increasing population and increasing enrolment in higher education have ensured that what was possible to achieve with 80% marks in the year 2000, now requires at least 95% marks. And, there are more people competing for the same number of seats. So, getting into one’s college of choice on merit alone or with a scholarship is going to be much more difficult than it was. In fact, parents are now having to prepare to handle competition even for KG admissions for toddlers. Many of them start planning right at child-birth on which school their child should go to. So, start planning now! When you start early, you have the freedom of choice in college as you don’t have to worry about the cost of college. Having a corpus fund for education to draw from when the time arises is imperative to ensure a good education and a good career for your child. And even if your child’s choice of career changes as time passes, you can adapt and be ready with the funds, when required. FAQs What is EduFund? EduFund is an investment app dedicated to helping Indian parents save, invest and plan for their child's education needs. How can EduFund help you? EduFund can help you invest, save and plan for your child's education needs. It allows you to customize your plan, and invest in tools like mutual funds, US stocks, ETFs, and digital gold to diversify your investments. It sets long-term and short-term goals for parents and children to save up time and help them achieve their goals. EduFund also helps you with education loans and connects you with the best loan partners in India and USA. How can you set up an account with EduFund? You can download the App from Play Store or apple store and set up your account free of cost. All you need is a bank account, an Aadhar, and a pan card to open your account and start investing in mutual funds. Conclusion We live in a world that is marred with competition, whether it's getting into a good college, or choosing the right investment instrument, being prepared for the future equips you to handle things better. The stability of having a corpus and not being dependent on an education loan is a reassuring move for your child to choose his/ her dream college. An EduFund may seem a far-off thing today, but it is a necessity for the future. Plan, invest, and educate! Invest Now!
5 Reasons why Global Education is the Best for Indian Students

5 Reasons why Global Education is the Best for Indian Students

It is universally acknowledged that education is a very powerful weapon. Education can transform an individual and colleges can broaden a child’s horizon. Every child deserves to receive a quality education. There are various reasons why global education is the best for Indian students. ‍From our experiences, we know that when a student receives a world-class education, it helps them become their best version – professionally and personally. Pursuing higher education outside of India seems to be promising in more ways than one. In this blog, we will talk about how studying abroad can affect your life for the better. Let's get started. 5 Reasons why Global Education is the best for Indian Students When you think about it, there are innumerable ways in which a global education can benefit an Indian student. In this article, we will talk about the 5 major ones. Let's get started. 1. Changes Your Life, for Good! International exposure to study at a foreign university and the experience of living in a new country can be life-changing! The combined power of both results in gaining practical knowledge that can help you in life immensely. Living alone in a foreign country can be daunting in the beginning, but it teaches you an immense number of values, and ethics, and not to mention, you become a pro chef! You learn what is not written in the textbooks. Such experiences also shape your personality and groom you as a responsible professional. 2. Holistic And not just Academic Development The Indian education system offers academic rigor. However, there still is room for improvement and development. The cut-offs in premier Indian colleges soar to touch the sky. But whether these colleges provide excellent holistic development is still a big question mark. Regardless of the foreign country you prefer to study in, most global universities focus on not just academics, but also professional qualifications, leadership, and personal development. Foreign programs have gained popularity because the faculty is invested in a student's all-around growth. 3. Opens closed doors Whether it is studying for a master's abroad or a Ph.D. – Foreign universities offer what you commonly don’t find in India. An array of courses across all fields and subjects like - Artificial Intelligence and Data Security or Criminology, and Media Relations. You name it and they have it. As per reports released by the USIEF, in 2019, Indians studying in the U.S. made up 17% of the international student population there. If you want to take the road less traveled or pursue a career in a highly specialized niche, global education opens closed doors. 4. Brighter Career Prospects ‍Indian students who have received good foreign education have an edge over others. You wonder why? Recruiters view international experience as an asset. It is reflective of many things like your skills to compete in a global setting and your ability to adapt to diverse cultures. Global education helps you hone your skills and grow exponentially. ‍After completing their degree, outstanding students can bag an international job as well. 5. Diversity They appreciate unique students. Many top-notch B-schools and other universities seek to promote diversity and inclusion. This means that the admissions team deliberately tries to encourage people from different walks of life to join the classroom. Highly reputed universities welcome meritorious international students. Some even try to strike a balance in their gender ratio thereby including talented girls and giving them an equal chance to fly. As the saying goes- "Sometimes the smallest step in the right direction ends up being the biggest step of your life!" Take the first step towards a brighter future. And, live the life of your dreams! FAQs Why is global learning important for students?   International exposure gained while studying at a foreign university and the experience of living in a new country can be life-changing! The combined power of both results in gaining practical knowledge that can help you immensely in life.  What is the value of global learning?   ‍Indian students who have received good foreign education have the edge over others. You wonder why? Recruiters view the international experience as an asset. It is reflective of many things like your skills to compete in a global setting and your ability to adapt to diverse cultures. International education helps you hone your skills and grow exponentially.  Why foreign education is better than Indian education?   They appreciate unique students. Many top-notch B-schools and other universities seek to promote diversity and inclusion. This means that the admissions team deliberately encourages people from different walks of life to join the classroom. Highly reputed universities welcome deserving international students.    Why do Indians prefer foreign education?   Indian students prefer foreign education because of many factors. Studying at an international university will give students great exposure in terms of meeting people from different cultures and countries. It will also create excellent employment opportunities abroad. Having studied at a foreign university will add value to a student’s resume.   Conclusion These are some of the major reasons why global education molds an individual for the better. In reality, there are many more points that one can consider. Whether it is the quality of education- or the experiences one attains, education abroad is a stepping stone toward untapped opportunities. We know many of us are now thinking, "What about the funds required to study abroad?". Well, saving up for higher education is not as hard as you think.
5 reasons why your child's college education is at stake

5 reasons why your child's college education is at stake

A college education is integral for every child. Not only does it provide your child with a degree and a career, but it also helps them grow as individuals. Yet there are many obstacles to good quality education. Let’s look at 5 reasons why your child’s college education is at stake!  1. Education Inflation  Education has to be the top-most factor when it comes to a child’s college education. Usually, the first thing which comes to our mind when we talk about inflation is the rise in the prices of fruits, fuel, rations, and so on. But education inflation is one domain that tops the chart. Especially after the pandemic, it has been really difficult to keep up with the ever-growing education inflation. Every year, universities hike up their fees in response to the growing prices in different sectors.    According to data generated by the Government of India, it is seen that between the years 2012 and 2020, the inflation in education rose by 10% whereas the food inflation was 9.62%. This data proves that the inflation in education has far surpassed the inflation in other necessities of life. The factors like tuition fees, higher cost of living, improved infrastructure, security, and so on. There are certain hidden costs such as flights, food prices, daily transportation, and accommodation also add up to the overall amount. 2. Lack of Savings  Lack of Savings is one reason why your child’s college education can be at stake. Many Indian parents struggle to save up for college fees and expenses. The way to avoid this hassle is by starting an education fund for their child’s education as early as possible. This helps in improving the potential to counter inflation in education. Your child might want to move abroad for their higher education. In such a case, you would need even more funds. Savings can be done either by going for a savings plan or by investing your money in a potential plan. Parents whose kids are still very young are advised to go for mutual funds. The time horizon can help manage the volatility and crashes that may come up. Also, it can help you gain a good return which will add up to the corpus for your child’s education. source: pixels 3. Lack of Research  A lack of research can lead to poor decisions and consequences. Certain universities are blacklisted and are not accredited by any board or council. The degree that a student gets from this college holds no value. It can prove to be a hurdle in your child’s education and a huge financial burden. Thus, proper research can help you avoid these mistakes and stay from university scams.   Furthermore, you need to ask your child about the course he or she is interested in and pursuing and conduct thorough research on the same. You must look for job opportunities that are offered after the end of that particular course. Avoid going for courses that do not have a properly retained market. 4. Lack of Opportunities  Recognized universities provide you with the opportunity to land a job. It should provide the return on the investment that has been put in. Furthermore, the course that your child selects should have demand in the market. The positions which are in high demand in the market tend to pay you better. If the university is renowned, many companies will conduct their drive for campus placements. Students even opt for off-campus placements if they want to get a specific type of job. 5. Lack of Guidance  Before your child applies to any university, it is important that he or she reads and understands the eligibility requirements of the particular institution. Make sure that your child has the necessary academic performance, extracurricular and entrance requirements to meet admission criteria. Most universities ask for 60% or above as an aggregate to get admission to undergraduate courses. In addition, they also require entrance exam results.    You need to have all the documents prepared beforehand. If your child does not fall in the eligibility category or is unable to produce the required documents, then his or her application might get rejected. Hence, it holds vital importance to take care of these minute details which may cause to be an obstacle.  Plan your child’s education with care to avoid some of the biggest obstacles!   TALK TO AN EXPERT
5 steps to apply for art school admission

5 steps to apply for art school admission

If you are of an artistic bent, becoming a professional artist must have crossed your mind at least once. Art is exciting, certainly more exciting than being buried in spreadsheets in a corporate job. It is through art, and through art only, that we can realise our perfection.” Oscar Wilde But what does art as a profession really entail? What are the things you need to know? What kind of education plan do you need to follow? Is a scholarship enough or do you need an education loan? Also, how do you make money from an art degree anyway? Well, here are some things you can do. 1. Knowing your education & career options Art degrees are not really as monolithic as you may think. They can lead to many different career avenues. As a matter of fact, there are many different kinds of art degrees! You have to figure out which degree is right for you. A Fine Arts degree is quite different from an Applied Arts or Design degree. In addition, there are specialized design degrees like graphic design, fashion designing, web designing, and many more. Fine arts, similarly, has specialized degrees in fields like painting, sculpture, printmaking, and so on. There are also degrees and disciplines that are loosely allied with arts but have different scopes and interests, for example, art history and curation.  Not all artists spend all their time in their studios or make money the same way. Design degrees can get you a well-paying corporate or freelance career. Fine arts degrees can also be lucrative, especially if you plan on teaching. It is important that you determine what kind of art course you want to take to understand the career options that would be available to you. 2. Finding the best fit Once you have determined what kind of degree and career path you want to undertake, you need to find a university or school that would be the best fit for you. Art school is one career path where studying abroad is worth it and makes a lot of sense. This is because universities abroad offer much better infrastructure, networking, and job opportunities, all crucial for any budding artist.  Image from Andrea Piacquadio on Pexels Research universities that are the best fit for you. This involves looking at their location, faculty, infrastructure as well as funding opportunities. Make sure that the university you are choosing is a good fit for the kind of artistic career path you have in mind. Choosing the right university is crucial to your education plan if you want to study abroad. 3. Convincing your parents If your parents are encouraging and supportive of your choice to pursue an art degree, that’s great! You are lucky! In fact, you are part of a lucky minority. Most parents tend to be a little iffy about any non-traditional career paths. If your parents fall into that majority, you may need to sharpen your persuasion skills a little.  Talking to your parents and persuading them is not as difficult as you may think. What you need to do is research and prepare a proper education plan. This plan is to show your parents that you have properly considered the details and intricacies of your decision and are prepared for any issues that might pop up. Image by Rodnae Productions on Pexels If that does not work, you can take the help of an education and guidance counselor. Counseling can help bridge the gap between you and your parents and bring them on the same page as you. Education counseling can also help you smooth out any kinks in your education plan. It can help you come up with comprehensive and pragmatic solutions that will enable you to follow your passions without reaching a career dead end.  You can even look for education counseling online if in-person sessions are not possible. 4. Securing Funding Art school is expensive. Not just tuition costs, but the costs of procuring materials and art supplies for projects and assignments can get pretty high.  You should look into the websites of the colleges you are applying to and talk to the admissions officer about funding opportunities. Look into the kinds of scholarships they have available and that their students and alumni have availed. Research one-time grants or fee waivers that you may be eligible for. You may need to secure an education loan. In that case, you should try to familiarise yourself with them. Find out how to apply for an education loan, the procedure, documents required, interest rates, repayment rules, etc. It could also be helpful to use an education loan calculator to figure out how much you can borrow and how much you would have to repay.  Talk to your parents because they are likely to have investments and savings set aside for your education. Education funding can be stressful but it is a necessary part of higher education planning. 5. Creating A Portfolio Portfolios are important when you are applying to an art school. A portfolio is a collection of your best work that basically acts as your resume. It presents the work you have done and are capable of doing so that admission committees can judge your skills and workmanship. A portfolio should therefore feature your best work but should also be diverse. You want to show people that you can do more than one kind of artwork and have more than one skill set.  You should refer to the websites of the universities you are applying to find out what they are looking for in a portfolio. Talk to admissions officers and current students and alumni of that university. You can also try to go online and look at other people’s portfolios to get an idea of how you should structure your own and what kind of artwork you should include. A portfolio contains artwork that is not just simply pretty to look at but also showcases the versatility of skills. For example, a simple landscape may be pretty to look at but does not really show any exceptional talent, skill or vision. Choose pieces that show your artistry with brushwork or impasto work. Pieces that are unique and show complexity and expertise with different materials or media are perfect for portfolios. What’s Next? Art school is a great place to both satisfy your passion and begin an exciting and promising career. You will be learning not just how to make great art but also how to sell and market that art. You will need to remember that you are not just here to learn artistry but to learn how to make a career out of that artistry. But even more than that, you are in college on an adventure! Remember to have fun on this adventure! FAQs How do I get into art school? There are many art schools across the world. The best way to start is to build a portfolio and check out the requirements for your chosen course. What subjects are needed for art school? You do not need to study any particular course for enrolling at art school. However, having an art subject like drawing, photography, fashion, designing or painting can be helpful. It gives a creative outlook and helps you build your portfolio that is required by most design/art schools in the world. What are the five steps for applying to an art school? Here are the 5 steps for applying to an art school - Knowing your education & career options Finding the best fit Convincing your parents Securing Funding Creating A Portfolio Consult an expert advisor to get the right plan TALK TO AN EXPERT
5 ways to deal with rising college fees for your child!

5 ways to deal with rising college fees for your child!

According to Money Control’s recent statistics, “education inflation in India rose by 10% from 2012-2021” It has disrupted the lives of parents and aspiring children to ensure ease of admission. The data shows that education costs rose above food and healthcare despite the hard-hitting pandemic. "IIT (Indian Institute of Technology)- all units in the country, doubled their fees by Rs. 90000 to Rs 2Lakh for all undergraduate courses in 2021." The worst figures are yet to blow the minds. According to the Economic Times, “parents will have to spend 1.5 crores on the child’s education.” To ensure parents do not struggle to meet the growing costs of raising a child, here are some ways to deal with rising college fees for your child!  https://www.youtube.com/watch?v=VvqzQx8kCpw Ways to deal with rising college fees for your child 1. Invest via SIPs SIPs are ideal if you wish to begin small in the market. In this, you can start by saving ₹5000 every month for ten years at 15% interest (assumed), and you can accumulate up to 7.93 lakhs for your child’s education. A SIP provides long-term gains and consistent savings. Continuously diversify your SIP investments in 2-4 equity-oriented mutual funds with a mix of large and mid-cap investments. Tap into equity-linked saving schemes to save for a child’s college fees and save on tax. The earlier you invest in SIP for a child’s education, you may reap more returns. Start Investing in Mutual Funds 2. Invest in US Stocks You can invest in US stocks from India in 2 ways, that is, Direct investments in stocks and Indirect investments in stocks through Mutual Funds In the case of Direct Investments, you can invest in stocks through an overseas trading account with a domestic broker or by creating an overseas trading account with an overseas broker. In the case of Indirect investments, you can invest in US stocks from India in the form of  Mutual Funds, or ETFs (Exchange Funds Transfer and Investing Applications. As per RBI guidelines under the Liberalized Revenue Scheme (LRS), one can invest up to 1.9 crores or 250000 dollars per year. 3. Invest in PPF (Public Provident Fund) A PPF is a 15-year scheme that helps create a tax-free savings account for your child’s educational expenses. A guardian may withdraw some amount after 6 or 7 years of maturity. If your child wants, he too may contribute towards the fund after maturity. One can extend the account’s validity after maturity. Always remember, that PPF is a debt account. Hence, inflation blows might affect investments. The combined limit for the PPF account is 1.5 lakh per annum. Under Section 80C of the Income Tax Act, a PPF account with 1.5 lakh is eligible for tax benefits. One can leverage the use of interest and maturity amount tax exemptions. 4. Unit Linked Insurance Plan (ULIP)  Insurance companies provide ULIP with the flexibility to cover multiple investments under a single scheme for investors. With one policy, you can choose among high, medium, and low-risk investments. An investor can either choose a fixed sum or an investment premium. Evaluate the risk appetite and invest accordingly in the low, medium-, or high-risk investment options. In an unforeseen situation, investors can withdraw a sum after 5 years. The premiums offered are exempt from tax under section 80C. As per research, “A ULIP fund provides 10% returns on average.” For this, an investor must invest for 10 years in the ULIP funds. It is considered an ideal investment for a long-term child’s educational goals. 5. Fixed Deposit It is one of the safest options to eliminate the college fees blues regardless of inflation. Fixed Deposits provide guaranteed returns on investments. Always analyze the interest rates, yield, and interest compounding frequency from different providers before settling for one. The higher the interest rate you get on FD, the bigger the child education fund corpus. However, FD may not provide 10-15% returns, but it is a volatile-free debt instrument.  The current educational costs may vary significantly from future educational costs. EduFund eliminates the guessing game by providing a tangible view of investments through a trusted college calculator. The experts help design a personalized child education investment plan highlighting the guardian’s current income and future educational costs, hassle-free. FAQs What are some best ways to deal with college fees? While there is no one-size-fits-all solution, a few options can be explored depending on your monthly budget, your choice of college, and the stream your child wishes to pursue. Below are some of the best ways to deal with college fees.  Manage your Budget Creating a budget to manage your finances efficiently goes a long way in setting up a disciplined way of life. It helps in monitoring your spending, prioritizing essential expenses, and cutting down on unnecessary costs, thereby helping you save for your child’s education.  Invest Early Investing early on is a smart move as you get enough time to create a corpus of a substantial amount for your child’s education. This also saves you from borrowing money from relatives and taking on educational loans.  Invest in SIP (Small Investment Plan) Begin by investing small amounts in a smart investment plan. This will help you get comfortable with the idea of investing in education. A flexible investment plan is also a good option that allows you to increase your investment at a later stage.  Invest in US stocks You can invest in US stocks, either through Direct Investments or Indirect Investments.  Direct Investments allow you to invest in stocks through an overseas trading account with a domestic broker or by creating an overseas trading account with an overseas broker.  Through Indirect Investments, you can invest in US stocks from India in the form of Mutual Funds, or ETFs (Exchange Funds Transfer and Investing Applications).  Educational Loans An educational loan is also an option for those seeking to study abroad as well as for those who wish to educate their child in one of the expensive institutions in India. Edufund helps you in calculating your college costs along with living expenses providing you a transparent report of the expenses involved. Based on this, a suitable hassle-free loan option is provided.  Scholarship Programs Most educational institutions provide scholarships to students who excel in academics but are unable to bear the cost of expensive institutions. You can apply for the same after reading all the terms and conditions. The first step should be to avail yourself of a counseling session to deal with all the doubts and queries you may have. EduFund provides this first step in a very transparent and efficient manner. As mentioned above, solutions are provided based on your budget and requirements and you can choose the one that suits you the most. What is the best time to save for college fees? The best time to start investing would be as soon as you plan to have your child, or even earlier if possible. This helps in accumulating a decent amount by the time your child starts college. Having said that, it’s never too late to start investing. Begin your investment journey with right now! What are the 5 ways to save for college fees? Here are the 5 ways to save for college fees: Invest in SIPs (Small Investments Plans) Invest in US Stocks Invest in PPF (Public Provident Fund) Unit Linked Insurance Plan (ULIP) Fixed Deposit Why are college tuition costs rising so fast? There are several common factors which contribute to escalating tuition costs: Administrative costs: Many universities have seen significant growth in staff and expenses and investing in appropriate technology. Infrastructure costs: With growing competition, institutions need to keep adding or upgrading their existing infrastructure and facilities. Additional Services and Facilities: Additional services and facilities such as providing counselors, a robust medical service, and co-curricular activities such as sports, arts, trekking, excursions, etc. require additional manpower driving up costs for parents. Education inflation: Inflation that affects the general public also affects universities and institutions increasing operational costs. It increases the costs of studying and related education expenses. Technological costs: Technological advancement improves the overall education system, but it also drives up costs due to investment in infrastructure and equipment as well as in their usage training. Reduced Government Funding: The government can reduce its funding for several reasons and universities have to face the rising costs. It forces them to increase tuition costs to make up for the shortfall. What are the solutions to rising college tuition costs? Here are 2 solutions to the problem of rising college tuition costs:Invest in mutual funds: Mutual funds are the best way to beat the rising college tuition costs. They offer great returns and are often known to beat inflation. You can start an investment plan for your kid's future when they are in school and invest till they are off to college. Invest in US ETFs: Another way to beat college costs is US ETFs. They are great if you want to send your kid abroad to study. They can beat inflation, and rupee depreciation and they offer great returns in US dollars.