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Japan continues to amaze people all over the world with its distinct culture and traditions that perfectly blend with technology and innovation. Japan has grown tremendously throughout the years to occupy a key position when it comes to innovation, progress, and growth.  Aside from being a technological powerhouse, Japan is also renowned as an educational powerhouse. The credit for this goes to Japan's renowned institutions, which provide world-class education, training, and research opportunities.  Today, over 3 lakh foreign students from over 170 countries have chosen to study in Japan. International students are lured to Japan to study for its simplicity, diversified culture, and employment prospects, in addition to academic achievement. Why choose Japan to study? Here are a few factors that foreign students should know if they plan to pursue higher education in Japan: Instruction language: English and Japanese Average Study Cost: ₹3 - 8 lakhs per year Average Living Cost: ₹6 -  9.60 lakhs yearly Funding sources: Fellowships, Scholarships, and Grants Exam Requirement: IELTS, TOEFL, GMAT, GRE, EJU, and more. Intakes: 3 times per year - Spring, Fall, Summer  Top programs:  Welfare and Health Biological Sciences Food Science and Technology Fine Arts and Social Sciences Electronics and Engineering Business and Management, etc. Best cities for Students:  Tokyo Kyoto Sapporo Osaka Yokohama Fukuoka, etc. Cost of attendance The study cost in Japan is determined by the course and university your child chooses. The lifestyle they pick influences the total cost as well. The overall cost is divided into two categories: tuition fees and living expenses. 1. Tuition Fees In Japan, tuition is substantially lower than in the United States and the United Kingdom. It is best to send your child to a public institution if you want to save money. In Japan, unlike in other nations, the pricing structure for international and domestic students is nearly identical. Here are the rough fees for bachelor's and master's degrees- Bachelors: ₹3 - 8 lakhs annually Masters: ₹3 - 11 lakhs annually  2. Cost of Living The lifestyle chosen by international students determines the living costs in Japan. They should consider student living and applying for multiple scholarship programs if they have a limited budget. Some expenses, though, are unavoidable.  Depending on the location and lifestyle, the average student spends between ₹45,000 and 60,000 per month on housing and other basic needs. Cities such as Osaka and Tokyo are costlier than smaller towns in rural Japan. Additional read: Living expenses in Canada Top scholarships For Indian students, studying in Japan can be an expensive experience. This is when scholarships come in handy. Every year, Japanese universities and the Japanese government provide numerous scholarships to international students. The majority of the scholarships are entirely funded and open to students of all nationalities. The following are some of the top scholarships available at Japanese universities. Additional read: Living expenses in France Special scholarship in the Ph.D. program at Otani University 2022 International students with merit who are pursuing a Ph.D. at Otani University in any field. Benefit: A half-month stipend offered by the Student Services Organization. 1. Super KUAS-E Scholarship Students at Kyoto University of Advanced Science's Faculty of Engineering who have excelled academically.  Benefit: ₹6 - 7 lakhs stipend + tuition waiver + admission fee waiver 2. KUAS-E Scholarship Students at the Kyoto University of Advanced Science who have excelled in the Faculty of Engineering.  Benefit: Tuition tuition waiver (100%, 50%, or 30%) + Admission fee waiver (100%, 50%, or 30%) 3. MEXT Asia Pacific University Japanese Government Scholarship  Students with merit at the Asia Pacific University who are pursuing a full-time bachelor’s, master's, or Ph.D. degree.  Benefit: Full Tuition Fee waiver, Monthly Stipend as well as Airfare Tickets 4. ADB Scholarship University of Tokyo Students with merit at the University of Tokyo who are pursuing a two-year master’s degree. Benefit: Full Tuition Fee waiver, study material, Housing, Stipend, Airfare Tickets, and Medical Allowance. 5. Tokyo Institute of Technology Scholarship Students with merit at the Tokyo Institute of Technology pursuing their master’s or doctoral programs. Benefit: ₹80,000 - 85,000 per month for Master’s as well as Doctoral Programs. 6. KGU Graduate School International Scholarships Students with merit at the Kwansei Gakuin University pursuing postgraduate programs in Japan.  Benefit: 50% tuition fees covered per annum. Work Opportunities Students with work permits can work in a variety of part-time employment in Japan. They need to have a current student visa to apply for a work permit, which is placed on their passport as a sticker.  International students with a work permit are permitted to work 28 hours weekly during the school year and 40 hours weekly during the semester break. This is a great way to start earning and managing their funds and also gives them a work-life experience. Consult an expert advisor to get the right plan TALK TO AN EXPERT

According to a study by DNA, “A child begins its tuition by the age of 4 and continues until graduation”. From primary education to clearing competitive examinations like IAS and IPS, coaching remains an indispensable part of a student’s life. CRISIL (Credit Rating Information Services of India Limited) says- “ Preparing students for coaching classes may hit 70,000 crores by 2022, growing at a CAGR of 16%". Popularity reasons 1. Personalized and detailed guidance Coaching teachers and staff provide needed guidance to students based on personal experiences and teachings. They help students master concepts from scratch and eliminate any confusion. Their personal experiences help children clarify career goals and peep into the new options available to excel. Personalized interaction helps a child clear doubts and understand the subject in depth. 2. 1:1 attention Coaching institution aims at dividing the batch into limited students to pay attention to every student. According to a psychological fact, children learn better in a familiar environment. The coaching teachers help students progress according to their caliber. In schools, the teacher could hardly concentrate on every student given the time constraints. 3. Simplified learning with easy techniques and technology  With advanced techniques paving the way for all-inclusive education, private coaching classes prioritize personal attention. Using different learning and technological techniques for a defined group of students helps each student grow. They do so by grasping the learning pattern and ability of a child. This way, children could perform 60% better.   Using animated videos, quizzes, stories, and images on a projector helps children relate better to the concept. Children capture visuals better than text. 4. Specific attention in every subject  Students missing a day in school miss essential concepts. They cover up each idea quickly in situations with the flexibility of timing and learning concepts. Following half-known concepts in class becomes challenging but learning from scratch helps garner a grip over the concept. Even if they don’t understand, they could clarify the exact multiple times from the coaching teacher.  5. Flexibility to attend online classes  In cases where students struggle to follow up on concepts, they can arrange a 1:1 session with the coaching teacher. Additional read: Importance of an optimistic mindset in mutual funds investments Growth spectrum of private coaching classes in India by 2030 According to Economic Times, “India will become a 313 US million-dollar education industry market by 2030.” Upskilling and private coaching classes increased dramatically following the pandemic. Top 7 Productive ideas for growth Affordable Online test preparation and exam platforms Extra-curricular inclusive course structure Teacher training and development Affordable finance options- loans Innovative finance options in education and skilling Micro and alternative credentials to boost the employability of children Vast social and emotional learning opportunities How can technology bridge the remaining coaching gap?  The sudden closure of schools affected around 150 million girls. Many girls in rural India are devoid of any such educational opportunities. If the government makes adequate investments in this regard, one can bridge the education gap. Initiatives like affordable loan schemes, laptops, and internet connectivity in rural areas could help these kids enroll study in the best private coaching classes. Conclusion With private coaching fees increasing incessantly along with higher study costs, Edufund helps parents save through a personalized investment plan. You can invest in your child’s coaching class costs via short-term goal savings plans well ahead. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Studying abroad is not just about paying tuition fees, it also means moving to a new country and paying for accommodation, and all daily needs. Moving and living in a new city to study can be costly. Consider, that the average cost of living in Victoria, Canada for a single person is CAD 3, 494 (Rs. 2,86,111.61). A scholarship can reduce this cost partially or fully. Apply for Scholarship Tips on how to get a scholarship to study abroad 1. Make Google your best friend  The key step to winning a scholarship to study abroad is to do your research. Find out all the scholarships you are eligible to apply to and if those scholarships cover the program you are aiming for. The best place to start is the university website. Many universities offer scholarships to international students for specific courses that can reduce a significant portion of your yearly tuition expense.   Try to check government websites to see if they have any scholarships. A Pro tip would be to read the news daily and find out if there are any new scholarships announced by government institutions or corporate powerhouses to help students finance their dream education.   2. Ask the foreign university administration  To get a scholarship to study abroad, you need to develop a proactive approach and reach out to stakeholders. Don’t hesitate to ask the administration if they have any scholarships, grants, or bursaries for Indian nationals. If the university does not offer any exclusive scholarships, then ask them for help to apply to organizations that can sponsor your education. Sometimes asking for help is the best way to easily get a scholarship to study abroad!   3. Approach your seniors for information  Your seniors are the best source of information for scholarships. Since they have been in your shoes and done their due research, you can ask them for the different sources and organizations that you can apply to, to get a scholarship to study abroad.   4. Work on your SOP to stand out  The only way to get a scholarship to study abroad is to make your application unforgettable. This means working consistently on your scores, and extracurriculars and creating an amazing statement of purpose. Avoid generic statements and quotes. Make sure your statement of purpose highlights all your achievements and your future vision. Try to align your goals with the course you have opted for and the scholarship’s aim. By showing that your aims are aligned with the scholarship’s aim and your course, you can prove to the deciding committee that you are a desirable candidate.   What makes you an ideal candidate for a Scholarship? Read More 5. Get stellar LORs   Many scholarships require students to submit letters of recommendation. The recommendations are given by your professors, teachers, counselors, or your boss as a testimony. The recommendation letter should always come from credible sources so that the scholarship committee knows that you are a valuable candidate. Avoid asking your parents or relatives to write a recommendation letter for you. A common mistake most students make is to write the letter on their own or on behalf of their teacher.   6. Prove your worth  Winning a scholarship is not easy, especially when you are competing with thousands of candidates for the same position. The only way to get a scholarship to study abroad would be to prove your worth and show to the committee that you are a valuable candidate. This is possible through your SOP, academic history, extracurriculars, and finally, LORs. Acing these documents can help you get an interview where you can show your worth and win a scholarship to your dream university!   7. Respect the deadlines and proofread everything  Scholarships have strict deadlines that all students must adhere to. Start the process of finding the scholarships and submitting the documents months in advance so that you have enough time to ace your application. Another tip is to proofread all the information you have provided. Make sure you do not provide false information or lie on your application. FAQ How do I study abroad for free?  It is possible to study abroad for free with a scholarship. Many foreign and local universities offer scholarships to academically gifted or highly valued students to help them finance a portion of their tuition. How do you get a 100% scholarship?  Winning a 100% scholarship is extremely tough. You must have a powerful profile with a stellar academic record, extracurriculars, social work, and well-written SOP and LORs. 100% scholarships are hard to win and are given to outstanding students.  Can an average student get a scholarship to study abroad?  Yes, there are different types of scholarships like need-based, merit-based, and identity-based scholarships that students can apply for and win even if their academic records are average. Finding the right scholarship and working hard on your application can help you win a scholarship despite average academic scores.   These are some tips on how to get a scholarship to study abroad that you can use! There are thousands of scholarships available to international students, If you feel overwhelmed or stressed about finding the right scholarship then reach out to an expert and get the help you need to make your college life memorable.

The United Kingdom has a long tradition of intellectual success. It is one of the well-liked destinations for overseas students pursuing higher education. Regarding MS, UK institutions are at the frontline of offering a diverse selection of courses according to the student's interests.  MS in the United Kingdom provides full-time 1 or 2-year long courses. Specialists from various roles, industries, and courses are available at UK institutions, allowing overseas students to follow their selected degree programs. Popular MS specializations in the UK The following is a listing of the best MS Specialisations in the UK for Indian students. MS in Biology (Sciences)  MS in IT & Networking  MS in Engg (others)  MS in Geology  MS in Computer Science & Engineering  MS in Health Science  MS in Electronics & Electrical Engineering  MS in Mathematics Ways to save for MS in the UK A Master's degree might boost your child’s income potential. It might also be an opportunity to explore something your child is interested in. Saving in advance is the most effective way to reduce the expenditure burden your child will have to handle with student loans. Here's how to get started. 1. Set a goal and a budget for savings Setting a clear objective for the amount to finance your child’s Master’s can assist you in planning for the future. Calculating how much you'll need to save boils down to weighing costs. First, estimate how much money you'll require to pay for their tuition and living expenses. Then consider obtaining student loans, but proceed with caution. Calculate the monthly payment cost of the loan after your child graduates. 2. Refinance private student loans To save money, refinance outstanding private student loans. If your child is currently paying their student loans with a bachelor’s degree, the interest rates may have decreased since then. Interest rates on student loans are predicted to surge throughout 2022. In June, the federal funds rate was raised by 75 basis points, and fed officials anticipate future hikes. This might result in increased interest rates on both private & federal student loans. If you hold private student loans, refinancing replaces your loan with a new loan with a reduced interest rate. Refinancing existing student loans may allow you to free up a few additional rupees in your monthly budget for savings. 3. Choose the best option to start saving There are several options to save for future college fees, ranging from a traditional high-yield savings account to a college investing account. However, the best way to save will be determined by the timing of your strategy.  Select investment programs that offer investment possibilities customized to various periods and risk sensitivities. If you gradually adapt to being more conservative, you may invest more aggressively. Some of the options to start savings include - Mutual fund investing US ETFs (Exchange Traded Funds) Purchasing insurance policies Purchasing real estate Making an investment in PPF With these ways to save for your child's education, you may stop worrying about the cash needed to send your child to his or her ideal college. 4. Prepare early savings Investment needs time to mature. Education costs are often long-term goals that require more than five years to attain. Consider how much time you will need to create your children's education fund for MS in the UK.  The more time you have, the lighter your load will be. The sooner you begin investing & saving, the better. Top 10 MS colleges in the United Kingdom There are around 115+ MS Colleges in the UK. MS costs about INR 27.40 lakhs in the UK (approx.). The top specializations are IT and networking, Engg (others), Biology (Sciences), Geology, Health Science, Computer Science and engineering, Electronics and electrical Engineering, and Mathematics.  A bachelor's degree + Statement of Purpose (SOP) + IELTS/TOEFL/PTE score+ Letter of Recommendation (LOR) + GMAT/GRE scores + resume + job experience is required for admission. Consider looking at the best colleges in the UK for overseas students seeking an MS. Top MS Courses in the United Kingdom MS tuition prices in the United Kingdom Conclusion According to Census Bureau data, earning a master's degree may earn you up to $400,000 more than a bachelor's degree throughout your life. However, because this is throughout a lifetime, you may not see any significant financial rewards at first. As a result, it is critical to begin planning and conserving as soon as possible.  Senior financial counselors and planners urge parents to examine the higher education level they expect their children to achieve before developing a plan. More importantly, gathers information about current tuition costs and detects yearly increases. Make wise financial decisions, and you'll experience a lot less worry in the future. Consult an expert advisor to get the right plan TALK TO AN EXPERT

There is no doubt that universities are charging today's students more for higher education in comparison to prior generations. The average cost of undergraduate tuition, fees, and living expenses climbed 169% between 1980 and 2020. While parents may plan their finances according to their child's higher education and invest in funds on time, they may still not be able to factor in inflation while focusing on the foreign application process in general. There are some rules to be followed to get your visa accepted, any error can cause your visa rejection. Canada alone rejected nearly 41% of the visa applications in 2022 itself. 1. Visa refusal Rejection of your request for entry into another country by an embassy, consulate, or high commission is known as a visa refusal. They offer the necessary reasons for the visa denial, which can enable you to make amends in subsequent visa applications. There are requirements you must meet to apply for a visa. You will not be granted a visa if you do not fulfill them. You might need to meet certain requirements, such as not having any pending criminal charges against you and not having given incorrect facts on the application for the visa. Your biggest nightmare might be having your visa application rejected. It is agonizing to put in numerous hours and efforts to obtain a visa only to have it denied. Whatever the grounds for the visa rejection, it not only crushes your plans to visit your destinations but also significantly impacts your future travel. 2. Lack of funds in the bank account This is among the most frequent reasons for visa denials. You must prove that you have the resources to support your stay for the entire period of your trip before entering a country. The expense of your travel in a certain country has been determined by the consulate at a specific amount. This is to prevent you from having a difficult time in the nation and from turning into a burden on it. A visa application may be denied if your account does not show the anticipated amount. It may also be denied if the money is difficult to obtain. For instance, to obtain a visa for a 15-day stay in the USA, you must have between $5,000 and $10,000 in your bank account. Your visa application will be denied if your bank statement reveals a balance of less than $ 5,000 and you requested a stay of 20 days. Additionally, if you send a credit card or other paperwork in place of an account statement, your application may be denied. An applicant for a student visa must be able to demonstrate their financial capacity to cover the cost of their first academic year. Consuls stationed in poor nations are extra careful against fraud in this area. Presenting a bank statement that demonstrates a $50,000 transfer onto your sponsor's account two days before the interview would raise concerns about the source and the authenticity of the funds' availability to cover the cost of the education. Parent-sponsors who work in low-paid government posts could come under suspicion. Friends who serve as sponsors could be questioned about their level of dedication. How familiar are you with this uncle-sponsor? How recently did you last see him? Most governments investigate how you came by the presented funds. Additional read: Financial Planning for Contingencies Steps to avoid Visa refusal and rejection You should generally be aware of the causes of visa rejection to prevent refusal or rejection. You must be extremely careful to follow all rules and regulations, provide the required documentation, and keep all differences to a minimum when applying for a visa. Check out the instructions on the embassy's website. After reading the directions, submit an online application. No section or column should be empty. To give the correct information, follow the directions provided in the relevant section. Include legal documentation. Maintain sufficient funds in your account. Clearly state why you want to visit, remain, and then leave the country. Do not make grammatical or spelling errors. Prepare your application well in advance. Complete the appropriate visa application processes. Some important factors to think about are your bank account balance, travel insurance, income tax obligations, legal situation, health, and medical status. How to overcome visa refusal? By supplying further evidence in support of one's eligibility, a visa applicant can overcome a refusal. If your application is denied, you will often receive a letter outlining all of the reasons why, so you can learn from your mistakes and be more cautious the next time you apply. The same visa may be reapplied for after a predetermined amount of time. Conclusion Undoubtedly, applying for a visa is a very busy and demanding process. The least you can do to avoid having your visa application rejected is to double-check that you complete everything correctly and follow all the guidelines carefully. Even though you can reapply, the aim should be to clear the process in one go as it becomes tougher to get a visa after a rejection. However, using a firm or expert to help you with your application is a wise choice but try to remain vigilant and proactive in the process! TALK TO AN EXPERT

One of the oldest & greatest universities, Harvard University is situated in Cambridge, Massachusetts. An Ivy League school, Harvard University is one of the most renowned universities in the world. In addition to being old, it has a low admittance rate because of the high caliber and variety of programs it offers. Some of the most well-liked courses at Harvard are offered by the Graduate School of Arts and Sciences (GSAS), which is the university's largest graduate school. The Ranking of Harvard University The acceptance rate at Harvard university Harvard's current admission rate for 2021-2022 is 4.7%. It is among the most difficult institutions in the United States, with a notably difficult enrolment process, prerequisites, and extracurriculars.  The Harvard University admissions office selects the best and most deserving individuals by evaluating each candidate in many categories such as academics, volunteerism, extracurricular activities, statement of purpose, and letter of reference. To get admitted to the university, students need to focus on their applications and distinguish themselves. The postgraduate acceptance rate at Harvard university Harvard University has about 22,000 students, 15,250 registered in professional and graduate study programs. Harvard is a stiff competitor for P.HD and other business qualifications, with an acceptance rate of 3.1%.  Every year, over 5% of overseas students enroll in postgraduate programs. Before getting into the Harvard admission rate, understanding the eligibility conditions is essential. A student must complete specific prerequisites to register for any course at Harvard. It is required that they meet their GPA criteria and take the SAT/ACT. These results reflect the prospective student's academic potential. A minimum of 80% in the 12th board test is required for a student to gain a strategic advantage in undergraduate courses. A letter of recommendation (LOR) and a statement of purpose (SOP) are also significant in the application's consideration. To prove their command of the language, international students must pass an English proficiency test, such as the standardized IELTS, TOEFL, and others. Harvard wants students to be at the top of their Class with a GPA of 4.18. Furthermore, students should take online programs - AP or IB courses - to demonstrate that school-level scholastics is simple. If the overall GPA is at or below the school average of 4.18, individuals will need to improve their SAT or ACT scores. It will help them compete effectively against other candidates with greater GPAs than you As per the last admitted class of 2026 at Harvard University, admission count details are as follows: 1. Number of Students Applicants - 61,221 Admitted - 1,984 Admitted from the waiting list – 36 2. Geographical breakdown New England - 16.6% Middle Atlantic - 22.3% South - 17.8% Midwest - 9.8% Central - 2.0% Mountain - 3.2% Pacific -13.4% Territories - 0.2% International - 14.8% 3. Popular specialization subjects The acceptance rate at Harvard in 2022 Harvard, which is already regarded as one of the most demanding colleges in the world, has become much more selective in recent years. In a typical summer semester, Harvard accepts around 5% of candidates. Because of the changing global climate and the elimination of the SAT/ACT, Harvard attracted 61,220 applications for the Class of 2026. (compared with 57,435 for the Class of 2025). The record-low acceptance rate for the Class of 2026 fell to 3.1% or 1,965 accepted students. All through history, Harvard's admittance rate has progressively declined. The admission percentage for the Class of 2001 was 12.3% in 1997. Only a decade later, in 2007, the Class of 2011 admission rate had dropped to 9%. After a decade, in 2017, the admission rate for the Class of 2021 dropped to 5.2%. Tips for your child to beat the low acceptance rate at Harvard Harvard candidates must be among the highest level of their class and have a certain GPA in order to get admitted. Students with GPAs ranging from 4.0 to 4.18 have the highest probability of acceptance. Harvard University requires a minimum SAT score of 1460, with students commonly obtaining between 1460 and 1580. A composite ACT score of at least 33 is required for admission to Harvard University. Admitted students normally score between 33 and 35. Applicants must be fluent in English and be able to communicate themselves properly. Conclusion Harvard University students have an average GRE score of 155-166 in verbal and 155-170 in quantitative. The MBA program at Harvard University is the university's flagship curriculum. To be considered, candidates must have an average GMAT score of 730. To be considered for admission to Harvard, Indian candidates must have a GMAT score of 700 or above. Harvard is looking for students who will add value to the campus community and who are unique and diverse. They seek out driven individuals who will excel in any field they choose. They want students to enthusiastically represent Harvard around the world in addition to improving it as a university. Consult an expert advisor to get the right plan TALK TO AN EXPERT

“We don’t have to be smarter than the rest. We have to be more disciplined than the rest”. Warren Buffett. In a volatile market, many investors see their portfolios as sometimes positive and sometimes negative. So, there are some investors who asked if should we book short-term profits on our investments or if should we hold them. Read on to know what you should ideally do. Why did you start SIP? First, answer yourself why you have started a SIP. With what objective you have started your investments? Generally, people save and invest their money with long-term objectives like saving for a child’s higher education, retirement, buying a house, buying a car, etc. Mostly we make investments to achieve our financial goals. The volatility in the market will always remain there, but we need to stick with our goals and investments. When should you book profits? Investments in mutual funds should be based on financial goals. If you have achieved your financial goal, then you can book profits or redeem your units to utilize the amount for that specific goal, or you can book profits when you are near your goals, and you have achieved your financial target, or if your fund is underperforming. In such scenarios, you can book profits. Majorly investments in mutual funds are for long-term financial goals. You should avoid booking short-term profits on your SIP. Additional read: What are alternate investment funds? What if the market crashes or falls? In case, if the market crashes or falls, then should either consider it as an opportunity to buy at a lower level or remain invested with your SIP. Don’t get fear out with the fall in the market. In the short-term, the funds or market may not perform, but in the long-term market has generated positive returns. Nifty 50 Performance in 6 months and 5 years’ time frame Power of Compounding Compounding is basically earning profits on capital invested and profits as well. It’s like getting interested in interest and principal amount. The longer you remain invested the better compounding will work. Let’s understand this with an example, suppose there are two-person A & B and both are planning for their child’s higher education, but A has 10 years to save and B has 20 years to save and both have invested in equity mutual funds. Let’s see the difference in their savings amount. In the above table, we can see that person A’s invested money has just got doubled but person B’s money has grown to 5x because he has more time to save for his goal. The more you remain invested, the more benefit you will get out of compounding. Conclusion The wealth is created over a long-term period, not in the short-term. Consider investing with a financial objective and stick with your investments, don’t let the market volatility impact your decision. Only redeem or switch your investment if your funds are not performing, else remain invested and let it grow. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Comparing the expense of raising a kid with the joy of doing so can be emotionally upsetting, but it is wise to be aware of and plan for such costs. The saying "bacche do hi acche" (just two kids are good) makes economic sense given the high cost of rearing a child nowadays. The government has also embraced the proverb. The Constitution (Amendment) Bill, 2020, which has been introduced in the Rajya Sabha on February 7, 2020, contains a proposed amendment that will encourage the two-child policy to control population growth. Despite the uncomfortably high levels of inflation, these figures do not accurately reflect the hardship brought on by rising education costs because such costs are not included in the composition used to calculate price change over time. Here are a few of the costs and expenses incurred on children throughout their lives. The costs are based on average estimations based on current trends. Expenses at various life stages of your child 1. Up to pre-school In the first year following the child's birth, approximately Rs. 1 lakh is spent on baby care items, immunizations, and medications, all of which are fairly pricey in metropolitan and semi-urban areas. The first significant cost of a child's education appears when they become two years old in the form of a playgroup or daycare center. Depending on the amenities offered, this expenditure might be in the region of ₹50,000 to 1 lakh. Early in a child's life, spending on toys and clothing is significant because the child frequently outgrows them. 2. School expenses Up to 65% of parents spend at least 50% of their annual income on their children's schooling and extracurricular activities. Every parent wants the greatest education for their child, but growing school costs can often make that difficult. A respectable school collects annual tuition of ₹50,000 to 2 lakh. Assuming a 10% yearly education inflation rate, the 12 years from Grades 1 to 12 would result in an outflow of between ₹11 and 43 lakh. These expenses are separate from the child's tuition and extracurricular activities that they will be enrolled in. 3. Higher education The cost of a college education, which has been steadily rising, is the main expense causing concern for Indian parents. If studying engineering today costs, on average, ₹10 lakh, it will cost, on average, ₹40 lakh to 50 lakh in around 15 years. In the same way, it is reasonable to predict that a medical degree, which currently costs roughly ₹25 lakh, will exceed ₹1 crore in 15 years. Even after tax exemptions, parents can choose to finance their children's higher education with student loans, although the interest rates are still exorbitant. 4. Voluntary costs In addition to paying for education, a family may decide to upgrade their home to meet the privacy needs of their grown children. The expense of entertainment has also dramatically increased, particularly in urban areas. Birthday celebrations must be planned, gifts must be purchased, school-related cultural activities must be attended, devices must be handled, and so on. Additional read: What is the moratorium period in education loan? Financial planning and investments Financial planning is essential in light of the previous outflows to prevent parents from spending more on their kids than is necessary and from being unprepared for their upcoming retirement. There are also safety nets that need to be established, including getting enough insurance and setting up an emergency fund. Planning for their children's higher education is very important for parents. You should set aside roughly ₹13,000 every month for that purpose. O Over the next 20 years, if returns are on average 10%, you should be able to collect about ₹1 crore. Get a term insurance policy with a coverage amount of about ₹38 lakh to make sure that the ambition of pursuing higher education is not jeopardized by the premature death of the earning parent. If such an unfortunate event were to occur, the nominee may put the insurance payout of ₹38 lakh in a fixed deposit, generating an average post-tax return of 5% annually, to cover the ₹1 crore cost of higher education over 20 years. Conclusion In conclusion, careful planning and ongoing investment discipline will make sure a family is better equipped to handle all of the expenses without stress. Hence, other than the basic school fees, many expenses are required to be done while raising your child. This is not something to get scared of, rather with proper planning, it is not as difficult as it sounds. Nobody said raising a child would be easy, but with adequate help, it will be the most beautiful thing you ever do. Furthermore, if there is any confusion or concern about these financial issues, our team of financial advisors at EduFund is fully equipped to help you out and guide you wherever you need it. Consult an expert advisor to get the right plan TALK TO AN EXPERT

You are probably a little concerned about the recent increase in tuition costs if your child plans to attend college in a city like London. With the rupee falling against foreign curries like dollars and euros, your child’s living expenses in London will be directly impacted. Going to university is an essential step on the career ladder and you can’t delay it no matter how high the cost may be. But you can budget and invest so that your child has enough funds to sail through economic upheavals. Living expenses in London If your child wants to maintain the life they had with you in your native country, it will most likely be quite expensive, so they may have to make sacrifices! Student Accommodation When your child enters the UK, there are various places for him or her to live, and the prices vary. For example, the Halls of Residence option typically costs around ₹4,000 to Rs 7,000 per week. They might also look for rooms in houses or apartments. Rents might start at ₹3,000 per week and go up depending on the quality of the accommodation. Here is an estimate of how much you or your child would pay for basic things while in the UK: Food - ₹2,000 -3,000 weekly on food supplies. Telephone (landline) - roughly ₹1,700 - 3,000 Monthly Telephone (mobile) - starting at ₹400 weekly. DSL / Internet - about ₹400 weekly for standard DSL. Bills - starting from ₹840 per week for bills including heating, water, and electricity. Travel - starting from ₹800 per week. Study Materials - about ₹600 per week. Fun - A movie ticket costs about ₹700, a beer pint around ₹260, and a DVD rental of roughly ₹260. Of course, this is not a complete list, but it will help you figure out how much everything will cost in the UK. Whether it's studying today or in 10 years, you can use the College Cost Calculator to find out the cost of studying in London. This calculator not only takes into account the future tuition fees but also calculates the cost of living expenses to provide an accurate estimate to parents sending their children to a foreign country. These are inflation-adjusted so that you do not end up saving and investing less for tomorrow! Additional read: How to Fund your Child’s Masters in Ireland? How to cover these costs? Saving money in advance is essential for any prospective student and their parents. Even if your child is starting university within a few months, it is not too late to start saving, especially since the first few months might be the most expensive. Here are some options for student financing in the UK because sending your child to school abroad will undoubtedly strain your finances: 1. Students Loans Education loans and maintenance loans are two forms of student loans available in the UK. All of these loans are expected to be returned to the university to which your child is applying once they have completed their program. Some universities may provide a partial loan to pay some of the university fees, while others may grant a full loan to fund university studies. The living expenses in the UK are covered by a maintenance student loan. 2. Grants and Scholarships International students can apply for a variety of scholarships in the United Kingdom. Scholarships can be need-based or merit-based. Scholarships are available through certain universities, as well as through government or non-governmental organizations. Some of the leading universities in the UK, such as Oxford University, University of Cambridge, and University College London, are known to provide grants and scholarships worth up to ₹26.5 lakhs per year to international students. Some popular international student scholarships in the UK are listed below: Inlaks Scholarships Cardiff India Scholarships Chevening Fellowships GREAT Scholarships Charles Wallace India Trust Scholarships British Council Scholarships for Women in STEM 3. Part-Time Jobs Because of the easing of regulations governing the UK work visa, it is now simpler for international students, particularly Indian students, to obtain a part-time job. Your child can work up to 20 hours per week at the degree level if they have a full-term visa during the study time. Part-time work in fields such as marketing, accounting, healthcare, and education is usually more rewarding. 4. Teaching and Research Assistantships Your child may even be able to finance their studies in the UK using research assistantships. This type of student finance is available to students seeking higher education in the form of a Ph.D. or any other related PG degree in the United Kingdom. Students are typically compensated based on a specific number of hours worked, a fixed pay, or a fee exemption through scholarships. 5. Alternative Funding Sources Other student finance possibilities in the UK include travel grants for specified periods, awards for specific disciplines such as healthcare, nursing, and others, NHS support for dental or medical studies, and funding from outside organizations. Sending your child to study in the UK is not easy, especially due to the exorbitant cost, but there are ways to ease these up and make it possible to fund their studies. Always go through all the funding options available before choosing one from multiple sources to be clear. If there is still any confusion or concern, the team of financial advisors at EduFund is just a call away to clarify any doubt or even gain information about these aspects. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Saving for the future is critical for everyone to achieve their financial goals. Some people want to save to accumulate wealth, buy a house, buy a car or see their child settled abroad. One may not want to save just to beat inflation; some people save and invest to achieve their short-term and long-term goals. Tips to save money in the future 1. Create an emergency fund The first step towards saving is to start with creating an emergency fund so that you do not want to disturb your financial routine if any emergency arises. There are many formulas to create an emergency fund. One way is that you can create an emergency fund for six months of your expenses. So, in case of situations like job loss, your emergency fund can take care of your expenses till you find another job. You can park your emergency fund in liquid funds so that the liquidity is maintained. Start Investing in Mutual Funds 2. Make a monthly budget Making a monthly budget will help you to save money in a better way, as you will be able to identify and analyze your income and expenses in a better way. In this step, identify all your income first and then expenses, where you are spending the most of your money. Making a monthly budget will assist you in segregating income and expenses into different categories. To create a proper budget, you can follow the 50-30-20 rule. It says that 50% of your income should go towards your needs, 30% for wants, and 20% for saving and investing. By following this rule, you can manage your monthly budget. 3. Spend wisely  Spending wisely is as critical as making a budget. After making a budget, you can evaluate where you can cut down your unnecessary expenses. And where you do not need to spend your hard-earned money. For example, you may have bought a monthly subscription to some adventure park, but you may not be utilizing it. So, you can cancel your subscription and save a lot of bucks. Also, don’t take quick decisions in buying things. Evaluate its cost and usage, then make a thoughtful decision. If you spend wisely, then you can make a huge difference in saving for the future. 4. Set goals  The next step is to set your goals both short-term and long-term. Categorize your short-term and long-term goals based on their priority. And start saving for them. For example, sending your child for higher education after ten years is an example of a long-term goal, but paying for the school fees in the next 11 months is an example of a short-term goal. Identifying and prioritizing your goals is very crucial. Some parents could have a short-term goal to pay for a child’s higher education. So, it is essential to prioritize your goals based on time availability to achieve them. Additional read: How to save money to buy a house? 5. Create a savings plan  After deciding on your goals, create a savings plan for each goal. Try to save a fixed amount for each specific goal. Evaluate the cost of your goals; save and invest some money to achieve your target with ease. For example, if you want to send your child for higher education in the future, and the cost of IIM Ahmedabad in 2030 may cost Rs 60 lakhs, to save Rs 60 lakhs in the next eight years, you need to save and invest Rs 34000 every month in such asset class which can generate 14% annualized returns over the period. So, it is important to create a savings plan for each of your targets, such that you know how much you need to save and for how long. Before investing your money in any of the asset classes, please do thorough research on it. 6. Review the plan  After creating the savings plan, try to do a yearly review of the same and see whether the savings and investment are on track or not. If they are not aligned with your goals review your savings plan and make the changes accordingly.  Conclusion There is no one best way to save for future goals, in fact, there are multiple routes you can take to create a financial plan for yourself and your family’s diverse needs. Saving for the future will make you financially independent and free. It will also be going to help on rainy days without impacting your finances.  Following these steps could be difficult at the beginning, but after some time, these steps will change the way you spend and save. TALK TO AN EXPERT

As per-student.org, “Blockchain Technology is the most demanding online course for students.” Furthermore, Business Insider Intelligence declares its exponential growth in the healthcare industry at a CAGR of 70.56% in the upcoming years. Online courses for school kids are fast growing in the new normal world, and most parents are curious about the expenses associated with online learning.  Let’s explore why. Growing costs of online courses for school kids Some online courses for school-aged children are a more affordable option since they provide a greater education at a far lower cost. It is important to stress that the average cost of online courses for school kids is still a sizable investment. Many parents started their search for a course under the impression that online education would be quite reasonable.  Online courses are gaining importance Online learning emerged as a safe and feasible option during the pandemic. Before the pandemic, the worldwide eLearning market was seeing rapid yearly growth. The eLearning market is predicted to expand at a compound annual growth rate of 9.1% from 2018 to 2026, reaching $336.98 billion by 2026.  A wide range of large-scale open online courses has emerged in response to the new employment channels and career possibilities that have already replaced traditional careers. Additional read: Does an education loan cover living expenses? Popular online courses for kids in 2022 Computer online courses related to -  coding applications data science Social and digital media management entrepreneurship and management psychology graphic designing Visual effects and film-making Foreign languages are among the courses available Costs of online courses The majority of the online courses are paid courses. When overseas universities and institutes offer these courses, they can easily cost a few thousand. Even a 10-day program may assist students in improving their overall resumes and gaining an advantage in further education in India and overseas.  Online courses for school students cost up ₹35,000 - ₹1 Lakh, depending on the popularity and course duration. The reason is the huge competition among peers. Parents aim to encourage discipline and keep children engaged in nurturing skills with online courses. These courses help children remain ahead of the learning curve. The whole advancement and competition are affecting the financial bottom line. As Statista puts it, “the average monthly income of a middle-class Indian is ₹15000 - ₹ 20,000.” Given the statistics, there is hardly any flexibility for online course fees. The parents are stuck between managing dreams and attending to necessities. Indian education industry Future valuation The Indian online education industry was valued at ₹247 crores in 2016 and is anticipated to reach ₹159 hundred crores by 2021. Simultaneously, the proportion of paid online education users is expected to reach ₹77 Crores by 2021. Because these calculations do not account for the COVID-19 pandemic, it is very feasible that the estimated estimations may fall short of reality as even more learning is brought online Trends in Online Education The drive for skill enhancement and skills training has increased the demand for online certification courses. As per weforum.org.“ The number of online learning users touched 747 crores in 2021”. This is bound to increase in the upcoming years. Almost 70% of the students have enrolled in online education to acquire a new skill or enhance their means of employment. Students gain skills without disrupting their study schedule. Top Trends in Online Education 2022: Does an education loan cover living expenses? Gamification education Reality Extension Honing communication and management skills AI-powered teaching lessons Bite-sized lessons for easy comprehension The personalized learning experience with analytics Invest, plan expenses, and hit short-term goals with Edufund Parents can categorize their short-term objectives depending on their duration and priority. Goals such as an emergency fund, school fees, and debt payments are critical. The cost of education in India will increase amid slow financial growth. Parents should be more focused when selecting an investment product for their short-term goals.  Parents can select investing strategies that last little less than a year and meet their short-term goals easily. They can choose the relevant SIP fund as per their income or business revenue. The platform highlights some important child education goals that guardians can save for. Choose and decide per month contribution and years until you wish to save. Once done, the platform reveals the total amount you could save given the expected inflation. You can reduce or increase investment accordingly and track the same.  Parents must build a good structure, plan, and set up when deciding on a short-term investment. Online courses help develop overall child personality. Planning once the child turns 10 is preferable. It helps budget early and invests according to short and long-term goals.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

With the current increase in land costs, construction material prices, and labor charges, it is becoming difficult for middle-class families to fulfill their dream of living in their own homes.  Tips to save money on construction costs 1. Hire a good architect and contractor Although working with a qualified architect and builder may cost you money, overall building expenses will be reduced significantly. In reality, a competent architect may assist you in maximizing the space at hand while minimizing material expenses and ongoing maintenance expenditures. The bulk of cost overruns is the result of needless construction process delays.  Using a qualified contractor who strictly adheres to deadlines and completes the project on time is simple yet efficient cost-saving advice. For ideas on reputable architects and contractors, speak with your friends and family who have just built their homes. They can provide you with some great suggestions based on their own experiences. Once you have chosen a contractor or architect, the following step is to draught a detailed agreement. Make sure this agreement is clear about everything, including who will receive the building supplies, the exact costs, the project completion and payment dates, and the repercussions of any delays.  Contractor fees typically range from 8 to 12% of the total cost of constructing a home. Even if it would seem attractive to try to manage the building yourself to save money, bear in mind that you will need to pay subcontractors or supervisors, so you can't save the entire amount. Choose a simple house plan, nonetheless, if you do have the time to manage it yourself. 2. Hire specialists who are qualified and experienced Whether you are looking for building builders, architects, or interior designers, it is always a good idea to choose qualified and experienced experts who have been in the business long enough to be highly competent and aware of the best and most recent techniques in the market. 3. Choose the right plot for construction  The plot level is essential when it comes to building a house, first and foremost. Choose a plot of land that is both even and level with the road. If the plot is uneven, rocky, or much lower than the road level on the front, the cost of the construction as a whole might increase. This is because leveling the ground will require additional materials or equipment. 4. Purchase your building materials It might be expensive for a subcontractor to cover many projects' material costs at once. Consider offering to buy timber, wiring, or siding directly from the supplier by the specifications given by the subcontractor and paying the supplier in full as you will be charged for these items otherwise. If someone else purchases the materials, subcontractors could be prepared to slightly lower their prices. Additionally, suppliers could give a little discount for paying in advance. 5. Compare shops to get the best bargains The more effort and time you put into price comparison shopping, the more probable it is that you will find name-brand finishes and appliances at deeply discounted costs. Purchasing inexpensive floor models or scratch-and-dent appliances, buying discounted floor models or scratch-and-dent appliances, and keeping a watch on online as well as offline markets for used or reused things are some top money-saving tips. Additionally, you might be able to haggle over rates. Also, keep in mind to benefit from this, you don't need to be a skilled builder. When you research on your own you might be more inventive in the resources you locate. A little creativity, hard work, and being a shrewd online and offline materials scavenger may all help you build the house of your dreams.  6. Do not make changes after construction starts Sometimes after approving a plan before building begins, individuals decide to revise it at the last minute. This is a significant factor in the rising cost of building. Avoid doing this unless required. 7. Make use of the latest technology The advent of technology has altered the realm of real estate development in several ways. Don't be afraid to embrace contemporary technology while planning your own home or place of business because it may help you save time and money while lowering the possibility of human mistakes. Additional read: How to save money to buy a house? How to afford your dream house?  You can invest in mutual funds for the long term using SIP. You can open a SIP just to pay the down payment on your mortgage. Depending on the type of fund you choose and the length of the investment, you may easily earn a return of 10% to 18%. Get in touch with our experts at EduFund, and they will help you decide on the best course of action for investing. To get started investing, download the EduFund app and set up an account from the comfort of your home with no fees or difficulty.  If you're thinking of building a house, a little forethought, some extra work, and the use of clever alternatives might significantly reduce the cost of the home's construction. However, it must be made clear that to save some extra money, the strength and caliber of the input materials cannot be sacrificed. Consult an expert advisor to get the right plan TALK TO AN EXPERT

It's vital to save money if you want to fulfill your or your child’s ambitions. While some may be fortunate enough to receive a monthly paycheck that is sufficient to fulfill their needs and aspirations, many are forced to scale back their goals after barely managing to pay their bills. How can you save money from your salary every month 1. Make a monthly budget plan The key to saving money is to keep track of your spending and limit your costs. By separating your costs into important areas, create a monthly budget plan and follow it. Since the budget will help you avoid going over your spending limit, you will have extra money to save down each month from your income. 2. Avoid credit cards or personal loans Avoid utilizing credit cards and personal loans, even when they are freely accessible. These two approaches both lead to steadily increasing debt that finally prevents you from having any control over your monthly spending. Use UPI as often as you can to make payments because there are no transaction fees involved. 3. Avoid making fancy purchases Young people typically want to dine outside, watch a movie, shop online, and go to the mall. But are these costs actually necessary? It is quite possible to live without overindulging in these as they are luxury. Depending on your budget, place a limit on these pleasures. 15% of your salary is the generally advised maximum for fun and pleasure expenditure. Make careful to adhere to this cap at all costs. 4. Low-cost entertainment ideas Another area where you might be able to save money is entertainment costs. You might be able to reduce your movie expenses with the abundance of subscription options accessible, such as Amazon Prime, Cable, and Netflix. Consider indulging in outdoor activities like hiking or camping as an alternative to spending money. Additionally, having fun shouldn't be expensive. As an alternative to going out to eat, think about hosting a house party or potluck dinner. 5. Track your spending We don't stick to our budget, which is one reason why we spend too much money. You must accept responsibility for your actions if you wind up spending twice as much on everyday meals as you expected. You'll be able to see how your pay is being spent if you keep track of your expenditures. Study your expenditures over the last several months before setting aside money from your salary. We frequently observe that there are districts that we might eliminate to concentrate on conserving. 6. Take care of debts As soon as you start working, you are most likely to be subject to debt bondage. When you have fewer commitments and more access to credit card purchases, it might be difficult to resist the temptations toward uncontrolled consumption. Knowing the difference between needs wants, and greed will be helpful. There are other ways to accumulate debt besides using a credit line. Start investing with SIP and debt mutual funds This is well-liked since the returns are steady. This alternative is available to those who are hesitant to invest because of the hazards. These funds make investments in treasury bills, government securities, markets, commercial paper, and other financial instruments. Debt mutual funds do, however, carry credit and interest rate concerns. Even though there is a tonne of online advice on where to start, investing may seem scary to beginners. A crucial step would be to do research. Use a systematic investment plan (SIP), which is very simple and sensible, to start small while you decide how much work you want to put into investing and what kinds of investments you want to make. If you're not sure what you want, it's a good idea to ask a professional expert for guidance. They can walk you through your options and help you choose something that will make you happier and more involved. You may contact our professionals at EduFund, and they will assist you with the proper course of action for investing. Download the EduFund app and create an account to start investing. With zero charges and no hassle account opening process is from the comfort of your home. How much salary to invest in mutual funds? There are a lot of investing guidelines that can be used as a guide, and the 50:30:20 rule is a wonderful illustration of how someone should normally invest 20% of their monthly wage. Depending on your level of risk tolerance, there are many types of mutual funds. Index funds, debt funds, multi-cap funds, hybrid funds, and equity funds are a few of them. Building a financial safety net for you and your family when you aren't working is dependent on saving money as you go along. It might be a wise use of funds to put some of your profits into the best investment programs. Not only will it secure your future, but it will also develop your financial discipline and assist you in achieving your own objectives. TALK TO AN EXPERT