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Although nothing compares to the delight of having a child, raising a child, and giving him or her, it comes at a high cost. Parenting involves a significant financial commitment and emotional and physical investment. Raising a child in India is challenging and expensive. If you are wondering how much money does it take to raise a child in India? List of major expenses for child education plans 1. School expenses  Children's schooling and extracurricular activities take up a huge chunk of a parent’s annual income. Over 65% of parents spend at least half of their annual income on schooling. Every parent wants the best education for their child, even if it means that they occasionally struggle to make ends meet owing to escalating school costs.   A private school charges between 50,000 to 2 lakh rupees annually. In the 12 years between Classes I to XII, there would be an outlay of between 11 to 43 lakh rupees, assuming a 10% annual inflation rate for schooling. This fee is in addition to any tuition or extracurricular activities the child will enroll in.  2. College expenses  College expenses are a big part of how much money it takes to raise a child in India. Indian parents are most concerned about rising college costs, which constitute a major expense. The average cost of an engineering degree ranges from ₹12 to ₹15 lacs today; it will cost about ₹42 lacs to ₹50 lacs in around 15 years. In the same vein, it is reasonable to predict that in 15 years, a medical degree will cost more than one crore if it costs ₹30 to ₹40 lacs today. Although parents may choose to use student loans to pay for more expensive studies, the interest rate still remains high even after-tax exemptions. Top best child investment plans in India Read More 3. Miscellaneous expenses Miscellaneous expenses are important to consider when estimating exactly how much money it takes to raise a child in India. Up to the age of 18 are food, housing, and child care, but these are not the only costs to take into account. It can be expensive to purchase other basics like clothing, education, and healthcare. When calculating the costs of having and raising a kid, all of these categories should be taken into account as well.   According to a 2011 report by the Economic Times, the average cost of raising a child in India was ₹ 2.1 lacs. Healthcare costs are also increasing quite swiftly. The price of healthcare has increased steadily since that time by more than twice its previous level. Therefore, the typical health care expenses for raising a child will be between ₹ 4 to ₹ 5 lacs.  Food and other related costs, such as eating out, can range from ₹ 5000 to ₹ 6000 per person on average. Therefore, this could result in an additional ₹70,000 in expenses each year. As food prices rise, this will rise as well, therefore over the next 20 years, food may cost you ₹15 to ₹20 lacs.  Although this is changeable depending on your needs, an ordinary middle-class household that goes to the movies once a week and sometimes to a play or a weekend getaway should expect to pay roughly ₹ 4000 per person. A domestic holiday can run you roughly ₹ 30,000 per person, so your average annual entertainment price is between ₹70,000 to ₹ 80,000. All of these costs are based on current prices and do not account for inflation, so you will need to adjust your budget to account for inflation as you raise your child annually. When it comes to how much money does it take to raise a child in India? Then it can cost you from ₹65 to ₹80 lacs to raise a kid in India today. FAQ How much does a parent spend on a child in India?  Tier 1 city households may spend up to ₹43,000 on their children, but Tier 2 families spend nearly 23% less, Tier 3 families spend more than 22% less, and Tier 4 city parents spend roughly 32% less than Tier 1 city families. So, on an annual basis, Indian parents spend ₹32,000 on their children's education.  How much do you need to have a baby in India?  Given that infants are vulnerable to infections in their first few years of life, children need intensive medical care. Therefore, keeping that in mind, according to the reports of Aditya Birla Capital, the average cost of raising an infant would range from 5 to 6 lacks rupees which would include all the expenses from monthly pediatrician visits to accessories for a child. TALK TO AN EXPERT

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

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

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

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

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

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

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

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

Investing in all asset classes and all categories of investments is not the right way to create your portfolio, especially if you’re starting with a small investment amount. This causes a significant overlapping of assets and over-diversification, leading to reduced and inefficient returns in the portfolio. How can you choose the right investment option that generates returns to help you meet your objectives with reasonable volatility? Do you want to know about the power of diversification? What is diversification? Diversification is the first and the most critical aspect of investing. Diversification is an investment strategy that involves investing in a mix of instruments to reduce risks and maximize portfolio returns. Mutual funds provide the best form of diversification. They offer exposure to multiple assets (stocks or debt) within a single fund. Moreover, there is a mutual fund for every investor with varying risk appetites and investment objectives. Advantages of diversification Diversification itself is one of the advantages of investing in Mutual funds. The main advantages of diversification are: - Minimize risk: Diversification in a portfolio reduces the overall risk of a portfolio. With proper diversification, there is a considerable reduction in the volatility of investment holdings. Creates a cushion: When diversified optimally, your portfolio can efficiently absorb significant, unpredictable market corrections without causing much loss to your portfolio. Better risk-adjusted returns: Diversification is not done to maximize risk solely. For example, if two portfolios generate the same percentage of returns, the diversified portfolio here takes less risk and has low volatility compared to the other portfolio. Compensating effect: The primary purpose of diversification is to prepare for all market conditions. So, when the market is highly volatile, in a well-diversified portfolio, even if one instrument has significant losses, the other instrument (for diversifying) would be chosen in such a way that it still generates returns to a certain extent to compensate for the losses incurred. Additional read: Why you should geographically diversify your portfolio? Why should you diversify? The first rule of investing is that "you should not put all eggs in one basket, " meaning you should not invest all your savings in one instrument. The primary purpose of diversification is that if one investment instrument in your portfolio tanks, the other having a negative correlation may rise, thereby reducing the overall portfolio loss. Common ways of diversification? Asset allocation can happen in several ways. Some common strategies used for portfolio diversification are: - 1. Different asset classes A portfolio should have a good balance between different asset classes as all would have a different impact when the market takes significant turns. For example, to compensate for the volatility seen in equity investments, one can invest in debt-based instruments or gold to hedge market risks. 2. Different instruments You can diversify into different instruments within the same asset class. While investing in equity mutual funds, you could choose between market cap funds like blue chip funds, mid-cap or small-cap funds, or even index funds for proper diversification. 3. International diversification Geographical diversification also helps maximize the portfolio's risk-adjusted returns. Investing in USD can take advantage of the currency movement and hedge over the currency risk. Different and diverse. What is the difference? One common mix-up investors get into is thinking that investing in different mutual funds is equivalent to diversifying. But different doesn’t necessarily mean diversifying. Even if you invest in different funds, those funds may have the same or similar holdings. This causes overlapping of asset allocation in one portfolio. Diversification does not happen when a factor similarly affects the holdings of both funds. Lastly, we’d say that holding a well-diversified portfolio is much better and more beneficial than just being invested in a single asset that is considered to be safe. In the end, just investing and generating returns is not enough. You should ensure that whatever you're saving is being optimally allocated so that your investments generate returns efficiently and effectively. Also, review your investments periodically to check whether or not they are in line with your goals and objectives. FAQs What is diversification? Diversification is an investment strategy that involves investing in a mix of instruments to reduce risks and maximize portfolio returns. Mutual Funds provide the best form of diversification. Why should you diversify? The primary purpose of diversification is that if one investment instrument in your portfolio tanks, the other having a negative correlation may rise, thereby reducing the overall portfolio loss. This strategy can help you minimize risk and protect your overall investment and capital from loss. How can I diversify my portfolio? As an investor, the best way to diversify is to distribute your investments across different asset classes. For example, to compensate for the volatility seen in equity investments, one can invest in debt-based instruments or gold to hedge market risks. A combination of these investments can help you weather the storms of bull and bear markets easily.

Overseas education can open numerous doors of growth and opportunities for a career, but it is expensive and places a huge financial burden on parents who want to send their children to foreign universities.  The covid-19 pandemic, along with other difficulties, has managed to ravage the savings of some parents to a great extent. Moreover, inflation has also led to high education costs, and it has now become difficult to ensure the education dreams of a student without proper financial planning.  If you are short on money for your child’s overseas education and have hit a roadblock, then it is important to look at options that will help in arranging the money. Tips to arrange study abroad funding 1. Installment option on fees Studying abroad is not easy as it requires a huge amount of money to meet numerous expenses. A big chunk of it goes towards the tuition fees, which have to be paid upfront, at least for a full year.  Times have changed, and educational institutes understand the difficulty of arranging bulk amounts to be paid as tuition fees.  Foreign universities are allowing the option of installment payments or deferred payments. If you are short on money for your child’s overseas education, apply for an installment option on tuition fees. Paying fees per semester is affordable compared to the yearly fees as it minimizes the burden on parents to a great extent. Foreign universities are offering financial assistance to students whose families are facing financial difficulties. In some cases, the fees of the student are reduced, and in other cases, the payments are deferred to a doable period so that the money shortfall does not impact the child’s education.  2. Fast-track your studies  Students can fast-track their study courses if they are facing a shortage of money and are unable to meet the educational expenses in full. Most foreign universities have two to three-year programs, which are subdivided into semester formats. Students have to earn a minimum number of credits during this period. When you are short on money, it is not feasible to complete the degree course by attending college for the entire period. Students can enroll for additional credits and complete the program early. This will bring down the education costs and manage the money shortfall.  3. Apply to university alumni for financial aid  Sometimes unforeseen circumstances can deplete the amount of money that the parents have saved for their child’s overseas education. They may have a considerable shortage of funds and may be unable to meet all the education expenses easily. Students can approach the university for financial assistance. Most universities have an alumni network that provides monetary aid to deserving students with exemplary records who are unable to finish their education just because of money shortages. The alumni network evaluates the student’s grades, work experience, past performances, and the reasons for money shortage and, if found satisfactory, compensates by paying the remaining fees.  Some universities have an existing fund for students who are brilliant performers but, due to circumstances, are unable to pay the fees. If the student applies for financial assistance, then the fees in such cases are either reduced or paid by the fund held by the university itself.  4. Select an education loan with care If you are short on money for your child’s overseas education, then a loan is also a viable option. Select the education loan with care. Banks and NBFCs are vital sources of loans; hence check whether any sources are calculating the interest amount on a flat rate basis or on a reducing balance.   Look at the interest rate and consider other factors like repayment tenure, margin amount, and moratorium period as they are equally important. Remember, the interest rate on a reduced amount will be considerably lower than the total loan amount, so choose wisely. The college cost calculator on the EduFund app helps in calculating the future cost of college, which gives parents time to plan and save for their child’s college expenses in the smartest possible way. Financial experts will create an education savings plan that will meet the requirements of a student’s education aspiration. It also offers an option of taking out low-interest education loans with top banks.   Conclusion The desire to educate a child abroad is natural, but it often takes a toll on the parents who find themselves short on money for their child’s overseas education. Planning the expenses in another country with another currency is a task that, if not done properly, can create serious issues later on.  FAQs What are the best ways for Indian students to arrange funding for studying abroad? Indian students can secure funding for studying abroad through scholarships, grants, education loans, part-time jobs, and assistance from family and sponsors. How can Indian students find scholarships for studying abroad? Indian students can search for scholarships through government programs, universities, private organizations, and online scholarship databases. Many countries and universities offer scholarships to international students. Are there specific scholarships available for Indian students to study abroad? Yes, several scholarships, like the Commonwealth Scholarship, Inlaks Scholarship, and Fulbright Scholarship, are specifically available for Indian students pursuing higher education abroad. Can Indian students work part-time while studying abroad to support their education? Yes, many countries permit international students, including Indians, to work part-time during their studies. Students should check the work regulations of the destination country. What are the options for education loans for Indian students planning to study abroad? Indian students can avail of education loans from Indian banks and financial institutions, which offer loans designed for funding higher education abroad. The terms and conditions vary, so research different loan options.

Snapchat has grown very popular amongst Indians in general due to the nature of how it functions! Snapchat is swiftly becoming one of the most popular social media platforms on the Internet? Undergraduates originally designed it at Stanford University in the United States to enable the instant sharing of photographs and movies. It was previously known as Snapfish. Millions of individuals have posted millions of posts and received millions of messages since the app's introduction in 2021. This is partly because it employs a sophisticated algorithm for determining what the user wants to see and what they do not.   People are concerned that Snapchat will face significant competition from smaller social media businesses such as Hootsuite and Facebook, which explains why Snapchat stock has plummeted thus far. Analysts who follow social and digital media are crossing their fingers that Snapchat will avoid the same fate. The concern that Snapchat will forfeit the battle to these two behemoths is also fuelling the slide in stock prices.   Some predict a comeback in Snapchat shares since consumers enjoy sharing snaps with their friends and family. Facebook and MySpace might be used to make the same point. Analysts believe there is a significant possibility to profit from the advantages that Snapchat may provide investors.  Let's first look at some basic stuff associated with the company. Latest market close $33.26 52-week range 24.32 - 83.34 Dividend yield  NA Earnings per share  $-0.23 Beta 1.14 Market Capitalization $ 53.148 billion Average Volume (3m) 32,658,402 PE ratio  -  There are three ways in which you can invest in Snapchat from India   1. The direct way   You can trade in Snapchat from India by registering on a US brokerage account using technological platforms that provide this service or through a foreign brokerage with a direct presence in India. To start with this, you only need your PAN card and proof of address.   Snapchat's share price was the US $33.26 on January 14, 2022, which is over 2500 rupees. However, the premium price of Snapchat shares should not stop you from investing in them because some platforms allow you to participate in fractional shares. With $1, you can buy a part of a Snapchat stock and own a piece of the corporation.   2. The ETF way   One way to invest in Snapchat stocks from India is through an exchange-traded fund (ETF). ETFs are a grouping of stocks and bonds traded as a single fund. They're comparable to mutual funds in that they're invested in a pool of money. ETFs, on the other hand, are exchanged on the stock exchange and offer a simple and inexpensive way to gain access to a category of market or a group of companies. Buying an ETF via a platform is one way to invest in ETFs.   For example, you can invest in the Vanguard Total Stock Market ETF (VTI) and Global X social media ETF (SOCL), which contains Snapchat as one of its holdings.   Another option for investing in Snapchat stocks from India is to purchase ETFs that invest in Snapchat. You don't need to create a US brokerage account to invest in these ETFs. However, tracking errors in these ETFs may influence your returns.   3. The Mutual fund way   In this case, you will be investing in funds of Funds, a domestic mutual fund that invests in a mutual fund available in the United States. Since the investment would be made in Indian rupees, there is no investment restriction. Snapchat is included in several mutual funds, such as the Edelweiss' US Technology Fund of Fund but only to a minimal level. Furthermore, this strategy may prove to be more costly. An annual expense ratio will be required of you. The expense ratio of these funds is typically greater, as it includes an additional expenditure levied by the core global schemes they invest in, in addition to the usual India fund administration fee.   A note of caution here is to remember to evaluate your risk profile before purchasing any investment. Directly investing in equities like Snapchat would be a greater risk strategy for your portfolio.  FAQs What are the different ways to invest in Snapchat? There are several ways to start investing in Snapchat. You can directly invest in the company by buying its stocks through an app, you can invest in the company indirectly by investing in mutual funds or ETFs that will buy the stock as a part of their portfolio. How can I invest directly in Snapchat? Yes, you can invest in Snapchat from India on the EduFund. Download the App, set up your US account for free without any commission or opening charges. You also get first year free on account maintenance. Once its set up, you can invest in all the top US stocks on your own! What is the current share price for Snapchat? The current share price for Snapchat is $10.

Education inflation impacts student loan interest rates, however, this impact is not direct or uniform. In inflationary times, the chances of high-interest rates are feasible because the need to cut demand in the market is high.  1. Education inflation rises faster than the standard economic inflation This means that if the standard inflation in the country of your choice is at say, 5% - 6%, in the education segment it can easily go up to 8-9%. This is observed extensively in the education costs in Western countries. The reason: excessive growing demand v/s fixed supply. With this trend here to stay at least for the next decade, you would do well to consider its impact on the education loan that you are planning for your child. 2. Understanding the variables in student loans There are two factors to be considered for student loans: a. whom are you taking the loan from; b. What kind of a loan are you taking? Whom are you taking the loan from You can take an education loan from government organizations or nationalized banks in India, or you get one from private organizations: private banks or private funding/finance companies. With interest rates in the first category being lower, these loans are usually more difficult to obtain, as there are several eligibility criteria, including a pre-selected list of institutions for which they will issue the loans. These are the top-rung institutes of any country and not every international student will qualify for the same. Also, they have extensive paperwork. So the application and approval processes in these lenders are comparatively slower. On the other hand, the private players have a larger pool of institutions for whom they will grant loans, and often their eligibility criteria are less stringent. But their interest rates are higher and over the long tenure of the education loans, even small differences in the interest rates can compound and snowball into large amounts. What kind of interest rate are you opting for: you can choose between fixed interest rates and variable interest rates. It is important to note that in India, fixed rates rise slower than variable rates; but they definitely rise. So do not be misled by the term ‘fixed’. 3. How does all of this impact your child’s education loan? Inflation means less purchasing power: Well, as inflation grows, and interest rates go up, your child’s purchasing power gets limited as salaries do not keep pace with inflation. This puts stress on repayment funds. Missing education loan payments affect the individual’s credit score: This is a serious implication and must be explained well to the child. While the temptation to miss the monthly payments is high, the young adult must be disciplined to make the necessary payments on time. Refinance the education loan: This is a good way to revise the loan terms, especially as most lenders offer waivers when education loans are transferred. This allows the student to negotiate payment terms that are more suitable to his / her current financial situation. And yes, these loans can be refinanced several times.  Start a side hustle: If the primary salary is not enough to cover the loan payments and expenses comfortably, the student should consider taking up a side hustle. This will help ease the pressure, and ensure the loan is being regularly paid up. 4. Save during the study years and pay up the loan at the earliest While this may seem contrary to the idea of taking a loan, this really is the financially smart thing to do. If you are taking the education loan for your child’s undergrad studies, you will typically have these four years of grace before repayment starts. As a family, you must plan your savings and investments in such a way that by the time your child graduates, a considerable corpus is ready to pay up. This may mean foregoing luxuries and living on a budget for your child during the college years, but it is the fastest way to get your child out of debt. Why do block payments help? Changing market dynamics and growing inflation push your loan repayment amounts ever higher with increased interest rates, extended tenures, and so on. Starting your life with so much liability puts a lot of restrictions on your child’s early career. Instead, putting money away, investing in mutual funds or the stock market, and building a solid corpus with expert guidance from EduFund can give your child a confident start in their career. Choose well, and don’t let the education inflation turn your child’s future into a whirlwind of merely getting out of education loan debt. Plan the finances well, and let your child really fly up to the skies of success. DisclaimerIf you are taking an education loan from a lender in another country, make sure you are aware of the rules and regulations that apply to student loans in that country. FAQs How does education inflation impact student loan interest rates? Education inflation tends to drive up student loan interest rates, causing a significant impact on repayment. What are the variables to consider for student loans? Two key factors are the lender (government or private) and the type of interest rate (fixed or variable). How does education inflation affect a student's purchasing power? As inflation rises and interest rates increase, a student's purchasing power diminishes due to slower salary growth. What options are available for managing education loan payments? Options include refinancing the loan, starting a side hustle, and saving during the study years to pay off the loan early. Why is saving during the study years a financially smart choice for education loans? Saving during the study years can help build a corpus to pay off the loan, ensuring a debt-free start to a child's career despite rising inflation and interest rates.