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New Zealand is one of the ideal educational destinations for students pursuing their MBA degree as it offers a wide range of academic choices, MBA specializations, high-quality education, affordable fee structure, and sustainable job prospects.  An MBA in New Zealand is a wise career move as the globally recognized degree can get students the desired job in any part of the world. Moreover, graduating with an MBA from New Zealand may get your child a considerably higher income than their peers in other countries. Overview of MBA course structure and fees in New Zealand New Zealand is home to some of the finest educational institutions in the world for MBA courses. A full-time MBA requires 180 credits over 12 - 16 months or 60 credits every semester. Students can choose an MBA degree with or without specialization.  Average tuition fees for an MBA in New Zealand are between $26,000 - $37,000 with the highest course fee of $51,396 levied by the University of Canterbury and the lowest tuition fee of $36,800 levied by Manukau Institute of Technology.  The fee structure for an Indian student is between INR 11.4 lakhs to INR 31.3 Lakhs per year, depending upon the university one chooses.  The living expenses of the students depend upon their lifestyle. How to save for an MBA in New Zealand? Although studying for an MBA in New Zealand is affordable compared to the study cost in countries like the UK and the USA, parents do need to save and invest money so that their child can get the desired degree without the burden of an education loan.  Take the following steps to save for an MBA degree - 1. Research Remember the first step of any plan is the most difficult one as it requires thorough research. Gathering information is necessary so that you can create a foolproof plan that will prove fruitful in the long run.  you can also use the College Cost Calculator on the EduFund App to find out how much you will have to pay for your child’s MBA. This will help cut your research time.  Reasons to Study in New Zealand Read More 2. Create a financial plan Create a financial plan that will give direction to your ideas and encourage you to take the necessary steps toward your goal.  How to send your child to study in New Zealand debt-free? Read More 3. Take the help of professionals If you are a new investor, it might become a tad difficult or confusing to make the right decisions. Take the help of professionals because they have the necessary tools and resources to compile the required data and make the correct choices.  The saving experts on the Edufund App are adept at creating a customized financial plan and selecting the best investment opportunities through mutual funds, US ETFs, US stocks, and Digital gold. These experts, along with the Edufund investment calculators, will act as a guiding force and be with you every step of the way.   Top Universities in New Zealand Read More 4. Create a diversified portfolio Do not be dependent upon only one type of scheme. Instead, create a diversified portfolio that includes managed funds, savings accounts, term deposits, mutual funds, etc. The high-accuracy fund tracker on the Edufund App can monitor over one lakh data points and 400 financial situations to make solid suggestions about the most profitable investment schemes. a) Managed funds According to available data, one of the most common reasons for setting up a managed fund is to save money for a child’s higher education. It is feasible to put some money aside in a growth-oriented managed fund as early as possible. By the time the child is of age to study for an MBA in New Zealand, the parents will have saved a good chunk of the required money.  b) Savings accounts and term deposits If you cannot deal with the volatility of the growth fund or have started late and have a considerably shorter period for saving and investing, do not worry. The safest and the best possible mode of saving is by investing in a savings account and term deposits. It is better to add to the term deposits whenever they come up for renewal so that after a few years you can have a good amount of the money for your child’s MBA degree in New Zealand. c) Mutual funds The best investment scheme in the current market is investing through mutual funds. Take the help of SIP for regular investments as the estimated returns are between 12% to 15% in large-cap equity funds and 14% to 17% in mid-cap equities. The SIP calculator on the Edufund App can prove useful in determining the available returns from the chosen funds.  Conclusion International students, especially Indian students consider an MBA in New Zealand a good move as it gives them global exposure to cash in excellent career opportunities in any business sector.  Parents who have the necessary funds through saving and investing can easily send their child abroad and fulfill their dreams of better education, as compared to the parents who have to look at other means to fund their child's education.

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

Students often apply to more than one college because admission is not guaranteed in any of the institutions. Even if someone has good marks, there is no certainty that it’s enough to reach your dream university. Hence it becomes difficult to know where one might ultimately end up.  Let us first understand what is a college application fee and why colleges levy an application fee before answering the question - Are college application fees refundable? What are college application fees? College application fees refer to the money students must pay when they apply for admission to a college. It is considered negligible compared to the cost of studying in a college, which will include tuition fees and other related expenses.  Why does the college charge an application fee? The application fees help colleges to recover the cost of reviewing the applications. Colleges generally receive a fair number of application forms and it takes time, money, and effort to review each one of them. They have to hire specialists to go through the application forms and assess which of them are eligible for admission. Colleges levy application fees so that only the students who are serious about attending apply. If there were no application fees, every student would be applying to every college, and the overwhelming applications would increase the burden on the colleges. What is the average cost of application fees? The average cost of an application fee is between $44 to $50 in most parts of the world. Some of the prestigious colleges charge as high as $105 and $100. The average application fee in these prestigious colleges is $78.  In India, the cost of the application fee is between INR 0 - INR 3,000. Some of the colleges charge as low as INR 100, whereas some of the prestigious colleges for specific courses have an application fee range between INR 2000 - INR 3,000.  As students often apply to several colleges as backup, the total cost of application fees can cost them hundreds of dollars.  Why are students worried about application fees if it is such a small amount? Students have to apply to several colleges to increase their chance of acceptance and thus pay the application fees every time. This amount adds up and becomes quite a lot, especially for someone short on funds. Are college application fees refundable? College application fees are non-refundable regardless of whether a student has been accepted into the college or not.  A student can sometimes avoid the application fee by taking the help of fee waivers.  What are fee waivers? Application fee waivers refer to the process where the student does not have to pay the application fees because of special circumstances.  Who is eligible for college application fee waivers? Are college application fees refundable? Well, the answer is no, but students can take the help of fee waivers to avoid the application fee. The applicants must check with a recognized authority or high school counselor to find out if they are eligible for the fee waiver and under which category.  Some of the eligibility criteria for a college application fees waiver are- Applicants who are eligible for the Pell Grant. Students who are eligible for Federal Free or Reduced Price Lunch Program. Applicants in financial aid programs. Member of a family whose annual income is very less. Students living in foster homes. Applicants who are a ward of the state or are homeless or orphans. Members of a family who live in subsidized public housing or on public assistance. Colleges also accept NACAC, ACT, or SAT fee waivers. Additional read: Why India needs a higher education savings fund? Ways to lower the overall cost of college application fees Application fees can range from $25 to $60 and, the total cost of the application becomes quite high if the applicant is applying to several colleges. Follow the below tips to lower the overall cost of college application fees. 1. Narrow down the list of colleges Students are often tempted to apply to almost all the colleges they prefer, but it is not feasible. Narrow down your choices by shortlisting the colleges that you consider a good fit. Make sure that you meet the eligibility criteria of the college because it will increase your chances of admission.  2. Apply for SAT, ACT, or NACAC fee waiver If the applicant is eligible for any of these waivers, they will not have to pay the application fees. 3. Ask the college Call the admission office and explain your circumstances if you are unable to pay the application fees. If they consider your reasons justified, then the application fees might be waived.  4. Look for colleges without application fees Apply to some of the colleges without any application fees, as it will reduce the overall costs.  Conclusion The most important thing to do before applying to college is to talk to educational counselors to find out the best-fit college for your child. Talking to counselors will also clear all your doubts about college application fees. Download the EduFund app now to talk to the best education counselors in the country. Consult an expert advisor to get the right plan  TALK TO AN EXPERT

Parents responsible for arranging the necessary funds to provide higher education to their children are constantly on the lookout for new investment opportunities. It is important to add some of the best US stocks to your portfolio as they are profitable and have the proficiency for higher returns.  The top US stocks can prove to be big-time winners. The companies have shown themselves as capable and adaptable entities even during disruptions like Covid-19 and adverse market and economic conditions. They boast solid track records, strong fundamentals, high potential, and great profit returns. Best US stocks for Investing in 2022 1. Amazon With annual revenues and net income of $121.234 billion and $11.607 billion respectively for the year ending 30th June 2022, Amazon (AMZN) is one of the best US stocks in the world.  The multinational company formed by Jeff Bezos has its fingers in several industries like cloud computing, e-commerce, artificial intelligence, and digital streaming.  2. Microsoft Corporation Founded by Bill Gates and Paul Allen, Microsoft (MSFT) is associated with the information technology industry. The public company traded on Nasdaq has several subsidiaries to its name like GitHub, LinkedIn, and Skype.  The $2.38 trillion market cap company boasts annual revenues and net income of $198.270 billion and $72.738 billion respectively for the year ending 30th June 2022. The 3-month and 1-year forecast for its stocks is at 10.300% and 27.412% respectively.  3. Alphabet Inc.  The holding company Alphabet Inc. (GOOG) is a technology conglomerate with revenues and net income of $278.139 billion and $72.016 billion respectively for the year ending 30th June 2022. Product lines include YouTube, Google Ventures, Google Search, Android Etc.  With a market capitalization in trillions, it is one of the best US stocks to buy because of sure and safe returns.  4. Apple Inc  Apple (AAPL) is a multinational tech company with innovative products (Apple Watch, Mac, iPhone) and services (Apple Music, iCloud, App Store) in its portfolio. As of June 2022, it is the biggest company in the world in terms of market capitalization which crossed $3 trillion.  Apple registered its revenues and net income of $387.542 billion and $99.633 billion respectively for the year ending 30th June 2022. The 3-month and 1-year forecast for its stocks are at 12.907% and 32.407% respectively. 5. Nvidia Corp Nvidia (NVDA), a software and fabless company is a global leader in software, hardware, and artificial intelligence. It recorded revenues of $26.91 billion for the fiscal year 2021-22. The 3-month and 1-year forecast for its stocks are at 39.858% and 65.733% respectively.  The public company is listed in the NASDAQ 100 and pays dividends four times every year. As cloud computing is in high demand across various industries the growth potential for higher returns is extremely positive.  6. Tesla Inc.  Tesla Inc. (TSLA), a public company traded on NASDAQ is associated with the designing and manufacturing of sustainable energy ecosystems and all-electric vehicles. The company crossed the market cap of $1 trillion in October 2021 and shows a remarkable trend of higher upward movement.  Tesla registered its revenues and net income of $67.166 billion and $9.516 billion respectively for the year ending 30th June 2022. The 3-month and 1-year forecast for its stocks are at 20.403% and 47.215% respectively. 7. Mastercard Mastercard (MA), listed in the S&P 500 Index and traded as Class A on the New York Stock Exchange, is associated with financial services. The multinational corporation registered its revenues and net income of $20.865 billion and $9.699 billion respectively for the year ending 30th June 2022. Mastercard offers its services to 210 countries all over the world (except Russia) through its debit, credit, and prepaid cards.  The company is known to process an estimated 3.6 trillion transactions every year. Mastercard is a favorite of investors as it has a dividend yield of 0.47% and distributes them consistently to loyal stockholders every quarter of every year.  If you are wondering where to buy the best US stocks then always choose a secured platform or credible investment counselors.  The wealth experts on the Edufund App offer solid recommendations to parents about the best US stocks to buy and fund their child’s higher education. They provide the opportunity for fractional investing as well as to own a piece of a global US company through transparent and secure means.  Investing across borders to create wealth for your child’s higher education is easy with no hidden charges, no commission, or brokerage fees to disrupt your equilibrium hence sign up and start earning returns in dollars! Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education loan has become quite common for students aspiring to study further for their higher education. But what happens when the loan applicant cannot pay the amount back? The burden of repaying then falls on the co-applicants.  Education loan insurance minimizes the financial risk of the education loan significantly. It provides the necessary backup in case things go south and the loan applicant is unable to pay the loan amount. In some cases, like terminal illness, the entire amount is paid by the insurance company instead of the co-applicants, if the primary applicant has taken the loan insurance.  What is education loan insurance? As the name suggests, it refers to the insurance taken by an applicant on their education loan. The current job market conditions, limited career opportunities, poor campus placements, local economy slowdown, and uncertainty in global economic conditions have resulted in a negative impact on the employment market.  The education loan insurance comes to the rescue if the primary loan applicant fails to repay the loan in dire situations like death, terminal illness unemployment, etc. It also ensures that the burden of repayment does not fall on the co-applicants.  Finding the right education loan that fits your needs, as well as affordability, is confusing but not when you do it on the Edufund App. The financial team with the app provides the right guidance so that the co-applicants do not have to suffer if any misfortune falls on the primary applicant.  Best Banks for Education Loans in India Read More Is it compulsory to buy education loan insurance?  It is not compulsory to opt for education loan insurance as the requirement to do so varies from one lender to another. For loans taken from govt banks, it is not necessary for you to get insurance. However, for some private banks or organizations, you may have to get insurance as a condition to take out the loan.  Most government banks let the applicant decide on the necessity of purchasing insurance on secured education loans.  Applicants applying for abroad education loans processed by private banks and NBFCs without collateral have to buy education loan insurance. It is a mandatory requirement as the lender has not asked the applicant to pledge collateral security against the loan.  Questions to ask before taking education loans Read More What is the amount charged as a loan insurance fee? The amount charged as a loan insurance fee varies from lender to lender as private lenders and government banks have different terms and conditions for the borrowers.  Government banks charge 0.5% to 1% of the entire education loan amount as an insurance fee for secured education loans. They offer loan insurance schemes via in-house loan insurance lenders.  Private banks and NBFCs charge 1.5% and 2% respectively of the entire education loan amount as insurance fees for unsecured education loans. If you are misguided or confused about the education loan insurance terms and conditions reach out to the financial advisors at the Edufund App for a consult at the earliest.  What is the payment process for education loan insurance? Once the education loan insurance is secured, the first question that comes to mind is whether the applicant will have to pay the required loan insurance fees to the lender immediately.  The best part about the insurance is that it is not required to make a separate payment for the education loan insurance fees as the due amount is adjusted with the total amount of the education loan. For example, if the applicant has applied for an education loan of INR 30 lakhs and the insurance amount is INR 30,000 then the approved loan amount is INR 30 lakhs + INR 30,000 = INR 30.3 lakhs instead of INR 30 lakhs. The burden of paying the insurance amount does not immediately fall on the applicant. The loan insurance fees depend upon the length of the loan tenure and if the applicant wants to lower the loan insurance fees he will have to lower the loan tenure.  Tips to manage abroad education loan payments Read More Benefits of education loan insurance Education loan puts a significant burden on the applicant because the financial responsibility of repayment is on him. The co-applicant is equally responsible for the total amount if any misfortune befalls the primary applicant. The benefit of purchasing education loan insurance is that the co-applicant will not have to pay the loan amount in case of non-repayment as the burden now falls on the insurance company.  Students who purchase education loan insurance get an additional 0.5% waiver on the loan interest rate. It is a relief for the applicant as the overall interest rates are reduced.  Collateral vs. Non-Collateral Education Loans Read More Conclusion The education loan insurance acts as a protection for the co-applicant who will not have to bear the financial burden of paying the loan amount in case of non-repayment.  Applicants who do not have comprehensive knowledge about the education loan process and the related education loan insurance can consult our team of experts on the Edufund App and know about the whole process in detail. TALK TO AN EXPERT

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. 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.  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

An education loan is borrowed to cover the costs of post-secondary or higher education costs of students. Education loans cover tuition fees, textbooks and supplies, and daily costs while the borrower pursues a degree. Germany - A world-class education system Germany is home to brilliant minds such as physicist Albert Einstein and philosopher Karl Marx. International students who decide to pursue their studies can expect to encounter cultural diversity, friendly natives, and a high level of education.  Students would be relieved to learn that the vast majority of public colleges in Germany have now had their tuition costs waived. Students would only be needed to pay an administrative charge at the start of each term. The cost of living in Germany is deemed reasonable, putting less financial strain on Indian students interested in studying abroad. Overseas students will also be allowed to work part-time to help with living expenses, making life even more affordable. Overseas students may work up to 20 hours per week. This part-time work opportunity will help students reduce their living expenditures and provide them with important job experience in their subject of interest. Like most other universities, international students can take advantage of the many scholarship programs mentioned on university websites.  Germany's world-class education system, excellent industrial interface, innovative and research-based environment, and multicultural opportunities make it an outstanding choice for students studying abroad. Student loan for study in Germany Low tuition costs, a high standard of living, quality education, secure and safe environment are just a few of the features that make Germany an appealing study destination for students from all over the world. Germany has something for everyone. International students who want to further their studies may expect to encounter cultural variety, friendly natives, and a high level of education in Germany. Students would be relieved to learn that the majority of public colleges in Germany have already had their tuition costs eliminated. Students would only need to pay an administrative charge at the start of each term. Expenses covered under the education loan During registration, the university will provide you with documentation that clearly states the cost and the total amount required to complete the selected course. Please keep in mind that, while institutions in Germany do not impose a tuition price, students incur other expenditures during their residence in the country that are covered by the loan amount. However, an institution's loan would be purely for educational purposes and would not support personal expenses. The loan amount approved would cover: Tuition costs (if any) Spending on lodging Caution with deposit funds (security) Expenses for travel Study visits and project work. Purchase of books, a laptop, and office supplies Other required costs associated with completing the course Documents needed for an education loan to Germany Education Loans are given to deserving students who want to study in Germany. However, even before the bank can execute the loan amount, the borrower must provide several documents. These are some examples: Admission letter from the college/university A completely updated application form Documents about the cost of study Identification evidence, proof of residence, and the borrower's PAN number Bank records of the student/guarantor/co-borrower Statement of assets for the student/guarantor/co-borrower Proof of income from the student/guarantor/co-borrower Additional read: Best ELSS Funds for child’s higher education Student loans in Germany from 1991 to 2020 From 1991 to 2020, this statistic illustrates the number of students in Germany who received a student loan. In 2020, 465,543 students received student loans, a reduction from 489,313 the previous year. The German academic year is generally split into two semesters: winter and summer.  The actual start and end dates of classes may vary depending on the institution or university attended, along with the nature of the course. In recent years, the number of first-year students has decreased in the winter semesters, possibly due to factors such as altering education laws and specific course acceptability rules or electing to pursue an apprenticeship instead of a degree. In 2020, German institutions issued 236,472 bachelor's degrees. This was a reduction from 2019. The average age of German first-degree university graduates has decreased in recent years, indicating that students are starting and finishing their studies earlier rather than later. The current average age is 23.6 years old. College expenses comparison Here is a list of nations based on the number of students, tuition costs, and average student loan debt. Germany is one of the countries where college tuition is not charged, albeit this varies depending on whether you are a local or an international student. Conclusion German universities provide a diverse range of courses and degrees. In terms of topic areas, law, economics, and sciences had the most students enrolled, followed by engineering.  Managing your expenses is a critical obstacle you must overcome as an international student. It's advisable to start planning your money and how you'll fund your living cost and educational expenses in Germany. Parental income, financial assets, part-time employment, scholarships, and student loans are all options for funding your studies in Germany. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Parents now need to plan their children's higher education far in advance due to the rise in education costs in India as well as abroad. It would be a risk to rely solely on student loans to obtain the necessary money for your child's higher education. In this blog, we will discuss everything about higher education savings funds and why India needs a higher education savings fund. What is a higher education savings Fund? A higher education savings fund is an investment vehicle that aids in building up funds for educational costs and offers tax-free withdrawals for certain higher education expenses. Tuition, books, equipment, and other significant costs are all permitted. Why does India need a higher education savings fund? There are numerous benefits for Indians who are planning to invest in a higher education savings fund. Mentioned below are a few of them: Parents have the convenience of saving for their child's education in one place with a higher education savings fund. Parents or investors don't need to consider how much of the fund should be allocated to debt or equity because the fund will do it on its own. Because it is an automatic investment, the specified sum is invested responsibly. The account is entirely in the parent's control. Subject to some limitations, close relatives may also contribute to the account in the form of gifts Problems faced while investing in education savings funds The parents do face some common problems while investing in their kid's education, as it is difficult to figure out how much to save for a child's higher education. The following are some of the challenges Indian parents have while setting up a higher education savings fund: Most parents are not aware of higher education savings funds, so they end up making unorganized plans for their investments and savings, which usually don't work out. You can always get in touch with our experts at EduFund to know how to invest your money and fulfill the dreams of your kids. Some parents fail to keep track or are not aware of the inflation rates. Thus they end up estimating a lower amount of money their child would need to spend on their higher education. It can be challenging for many parents to establish and keep track of investments over a lengthy period, making it tough to save enough money for children's higher education How to invest in higher education savings fund in India The Sukanya Samraddhi Scheme, mutual funds, and children's insurance policies from insurance firms are the most popular investment options in India for your child's higher education. The government's Save the Girl Child, Teach the Girl Child (Beti Bachao, Beti Padhao) campaign included the introduction of the Sukanya Samraddhi Scheme, a deposit scheme for young girls. A Sukanya Samriddhi Yojana account can be opened as soon as a girl is born, up till the age of 10. Any post office or authorized commercial bank branch may open one. It remains operational until the girl decides to get married or until 21 years have passed since the account was first created. When she reaches maturity, you can withdraw half of the balance to use for her higher education. Because the majority of the policies have risk elements attached to them, it can be challenging for investors to select the optimal type of investment. Below we have mentioned the top mutual fund schemes in India for education savings. Top mutual fund schemes in India for education savings NameIdeal forTata Young Citizens' FundInvestors seeking a balanced strategy to saving while thinking ahead for their children's requirements.SBI Magnum Children's Benefit FundPeople who want to meet their children's future financial demands by finding long-term capital growth as well as steady employmentHDFC Children's Gift FundInvestors who desire long-term financial growth in addition to a stable income to provide for their children's needsAxis Children's Gift FundLong-term capital growth is what investors need in order to meet their children's financial demands in the future. In addition, when it comes to educational costs, investors should not consider factors like growing inflation rates. India is in desperate need of an investment vehicle like the National Pension Scheme NPS to garner funds for meeting Higher Education Expenses.  The fund for higher education savings should be of low cost to many pension fund managers  and offer different investment plans. In order to encourage parents to save for their children's higher education, the Indian government should offer certain tax incentives on withdrawals. You may speak with financial experts at EduFund if you're unsure about where or how to invest. By using EduFund to invest your money, you can support the dreams of your kids. Install the EduFund app on your device to book a free consultation call with the experts. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Ireland is a preferred destination for international students as it offers easy access to quality education and job openings post-study. Sending your child for a master's in Ireland is a dream come true for parents as it opens numerous doors of opportunities in both, personal and professional lives.  The globally recognized universities maintain international standards and thus attract lots of students from all over the world. It is a fact that nearly 35,000+ students are currently enrolled in Ireland universities and colleges and the majority are studying for their master’s degrees.  Studying abroad requires a lot of money and parents often are in a dilemma about how to arrange the required funding for their child’s master's in Ireland. Let us discuss the length and cost of the degree and some simple and effective ways of arranging the required funds. Master’s degree in Ireland The master’s degree takes at least one year of study to complete but some of them, especially the research-based programs, last even for up to two years.  EEA and EU Students are expected to pay €4,400 to €10,000/year but the fees for subjects like medicine and business range from €20,000 to  €30,000/year. Other international students are expected to pay between €9,950 – €34,500/per year. Steps to fund child’s masters in Ireland 1. Personal savings Some parents start investing in their child’s education quite early and have a decent amount of savings that can be used to fund the master’s degree in Ireland. Sometimes, students have a work experience of a few years and they manage to save some money that can be used partly to fund their education.  2. Parental sponsorship If parents are the education sponsors of a child then parental sponsorship is accepted in Ireland as valid financial aid.  The students need to submit the necessary documents that will prove parental income.  3. Education loan An education loan is one of the best ways of arranging the funds for studying abroad, especially if the student does not have the support of his parent’s income, scholarship, or grant. It is available through financial institutions like banks or private lenders.  The Edufund App helps Indian parents to plan, save, pay and arrange for education loans so that their child can complete their education and fulfill all their dreams.  4. Scholarships and fellowships Several scholarships and fellowships are available as financial aid for a master’s degree in Ireland. The amount of scholarships often covers 100% of tuition fees and a large part of living expenses. Students can apply for university scholarships or government scholarships. But it is important to conduct thorough research beforehand to know about the applicable terms and conditions in detail. Some of the popular scholarships and fellowships for international students are Government of Ireland International Education Scholarship Government of Ireland Postgraduate Scholarship Programme Irish Aid Fellowships The Walsh Fellowship Additional read: How to fund child's masters in Dubai 5. Grants and bursaries Several universities offer grants and bursaries to eligible students who are interested in pursuing master's in Ireland. Parents can arrange the necessary funds for their child’s education through these financial aids.   6. Fee waivers Individual universities offer reduced or free tuition fees to students who are excellent at their studies. Students can apply for a fee waiver if they meet all the eligibility criteria as it is an important means to arrange the necessary funds for a master's degree in Ireland.  7. Part-time jobs International students in Ireland are allowed to work up to 20 hours every week during their semester. Part-time jobs are a vital source of funding to meet some of their related expenses effectively. Moreover, some students manage to find work in the same field as their ongoing studies and this helps them to gain work experience for future reference.  8. Professional consultants Some parents find it difficult to plan for their child’s education, especially if they want to go abroad. In such times, professional counseling becomes a necessary tool to conduct thorough research and come up with a feasible plan.  The professional consultants associated with the Edufund App can help create a financial plan to fund your child’s master's in Ireland. This includes saving for expenses in the right way or borrowing funds from the best possible institutions at minimum interest rates. Conclusion The excellent education system and numerous choices in all subject areas make the country an excellent destination for students who want to pursue their masters in Ireland. The cherry on the pie is the partnerships between educational institutions and the various industries and firms that open doors for job opportunities post-study. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Equity-linked savings schemes are the best options for parents whose investment objective is securing money for their child’s higher education. The best ELSS funds offer both stable and good returns and are preferred over other schemes due to their ability to beat education inflation and achieve higher returns in the long-term period.  Higher education has become very expensive and adding to it is the high rate of education inflation, which currently stands at 10% - 11%.  It is a painful situation for parents who want to give their children the best possible education for meeting their desired goals.  The solution is a tax-saving mutual fund also known as ELSS funds, which primarily invests in only equity and related instruments to generate the highest possible returns. These are extremely beneficial as they offer a unique combination of tax benefits and equity-linked market returns. ELSS funds in the market for 2022 Some of the best ELSS funds based on their upside potential are Features of ELSS funds for a child’s higher education Lock-in period of 3 years. Can make 100% investment in equity instruments. Tax benefits under Section 80C of the Income Tax Act, 1961.  The expense ratio is a maximum of 2.5% which can be further reduced via direct investment from the fund house.  The ELSS fund provides capital appreciation. Benefits of investing in ELSS funds for a child’s higher education 1. High returns ELSS funds generally offer a return of 13% - 15% if it is held for 12 – 15 years. The high returns are a boon for parents who have started investing for the primary purpose of their child’s higher education.  2. Tax Saving Parents who are looking at the best ELSS funds for investing in their child’s higher education find it beneficial as it serves the two-fold purpose of saving taxes and creating wealth. INR 1.5 lakh in such schemes is eligible for tax exemption. 3. Disciplined investment The ELSS funds have a minimum lock-in period of 3 years and this helps the fund managers to avoid the pressure of a bear market.  4. Uniformed investment As the cash for the ELSS funds is received from a large number of salaried professionals via SIP, it creates a uniform pattern of investment.  5. Professional management The ELSS funds are managed by experienced professionals who are dedicated to staying relevant even during changing economic and market conditions.  The investment counselors and wealth coach at the Edufund App offer professional services to interested parents in creating and managing a personalized financial plan through tax-saving ELSS funds that will pay effectively for their child’s higher education. The scientific fund tracker at their disposal is a key tool that can screen more than 1 lakh data points and 400+ financial scenarios to recommend the best ELSS fund that will prove beneficial for a child’s higher education.  6. Low investment The best part of investing in an ELSS fund is that parents can invest as low as INR 500 in SIP and INR 5000 as a lumpsum investment. This gives them the flexibility to adjust according to their pockets.   7. SIP option ELSS funds allow parents to invest via SIP and reap the benefits of investing small amounts at regular intervals.  8. The power of compounding ELSS funds are the best investment opportunity as they help parents to earn via their principal amount and also on the returns generated from that investment through the power of compounding.  9. Diversified portfolio Best ELSS funds are spread across several industries and market capitalizations. An investment in such schemes gives access to a diversified portfolio at a nominal expense.  10. Distribution of market risks A diversified portfolio of ELSS funds distributes the market risk and helps parents earn high returns for their child’s higher education. Conclusion The reason for choosing the best ELSS funds for a child’s higher education is to meet the financial objectives of an education plan. The schemes provide capital appreciation and tax benefits so that the money can be used to fulfill the purpose of giving a child the higher education he deserves. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Wondering what is the cost of sending your child to Ireland? You are in the right place, here is a breakdown of what it costs to send your child to one of the most affordable destinations in Europe! Average tuition fees of universities  The students of Ireland get completely free bachelor’s degrees according to the scheme put forward by the government. All the costs are covered by the Higher Education Authority. All international students (both EU/EEA and non-EU/EEA citizens) have to pay a student contribution fee of a maximum of 3,000 EUR/year for student services, like examination entries and support for clubs and societies. The fee varies from one university to another, and it can change every year. Let’s see some of the tuition fees of different universities in Ireland.  Trinity College Dublin: Rs 6,00,000 per annum  University College Dublin: Rs 5,35,000 per annum  Royal College of Surgeon in Ireland: Rs 6,39,000 per annum  National University of Ireland, Galway: Rs 4,79,000 per annum The most affordable universities in Ireland are as follows:  University College Cork  Cork Institute of Technology  St. Patrick’s College  Dublin Business School  University College Dublin  University of Limerick  Maynooth University  Additional read: Cost of education in Singapore Cost of living in Ireland  The costs of living in Ireland are a bit higher than the average for the European area; you should expect to spend anywhere between 550 - 1,000 EUR/month.  Average costs of living in Irish cities (including accommodation costs):  Dublin: Rs. 87,881 to Rs. 1,43,827  Cork: Rs. 68,717 to Rs. 1,11,860  Galway: Rs. 72,000 approximately  This is a monthly cost of living expense which may differ based on your child’s budget, city, and spending habits.      Higher education institutions offer accommodation in student residence halls, which usually costs above the European average of 200 - 300 EUR. It is often difficult to find a place because the number of places is limited, and the demand is high. Apart from residence halls, you can rent/share an apartment or choose to live with an Irish family.  The average accommodation prices for students in Ireland are:  Students Living Alone: Rs 71,990 per month  Students Living with Flatmates: Rs 43,936 per month  Students Living on Campus: Rs 51,927 per month  Find out the current and future cost of studying in Ireland using the College cost calculator Studying abroad can be an expensive affair, but thankfully, Ireland is one destination where quality education is available at tuition rates lower than many other countries. The duration of graduation courses is mostly 12 months unlike the 16-24 months duration of programs in other countries. So, as a student from India, it makes for a very desirable place to study, with innumerable growth opportunities.    If your child is planning to study abroad, then ensure that you consider expenses like accommodation, food, health coverage, and travel along with their tuition fee when calculating the estimated cost of studying in Ireland. This will help you plan your budget more effectively and create a good education corpus when the time comes Consult an expert advisor to get the right plan TALK TO AN EXPERT

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

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