A professional degree in India, or a course abroad, can cost many times today's fees by the time your child is ready. A clear plan takes the stress out of it.
Step 1: Choose the goal
Pick a likely course and country, and find today's total cost: tuition, accommodation and living expenses.
Step 2: Allow for education inflation
Education costs often rise by 8% to 10% a year. At 8%, a course costing ₹15 lakh today could cost about ₹47.6 lakh in 15 years.
Step 3: Work out the monthly saving
Subtract what your existing savings may grow to, then calculate the monthly investment needed for the rest. Our child education calculator does this for you.
Step 4: Choose the right mix
- 10 or more years away: long-term SIPs in growth-oriented funds can play a larger role.
- 3 to 5 years away: gradually move money into safer options.
- For daughters: consider Sukanya Samriddhi Yojana as a safe component.
Step 5: Protect the plan
If something happened to you, would the savings continue? Adequate term cover, or a child plan with waiver of premium, keeps the goal funded.
Read more about child education planning.
This article is for general education only and is not personal financial, tax or legal advice.