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Sweden has risen to the top of the list of study-abroad destinations for international students. Because of the political turmoil in the United States and the UK's contentious Brexit, more international students consider Sweden a potential study-abroad destination.  The high expense of studying in Stockholm is one of the numerous problems. Many students must choose between paying the high living costs in Stockholm and attending an expensive institution. Student loans for studies in Sweden and scholarships are just a few ways to alleviate this stress and cost, and there are some possibilities for Swedish students as well. However, when it comes to the cost of living in Stockholm, students understand that higher prices come with a richer life. This is reflected in the increased quality of life, which is among the highest in Europe. People don't mind spending more because the price is worth it for a higher standard of living. So, let's look at how much it costs to live in Stockholm. Cost of living in Stockholm Accommodation: ₹20,000 - 54,000 per month Food: ₹16,000 - 20,000 per month 3-Course Meal: ₹3,500 - 5,500 per month Books and other study materials: ₹5,000 - 7,000 per month Social activities and entertainment: ₹6,000 - 9,000 per month Health insurance: Starts at ₹2,500 per month Public transportation: ₹3,000 - 5,000 per month Bicycle for rent: ₹8,000 - 10,000 per month Students must plan for the expense of living in Stockholm. They are really high. Monthly living expenses are projected to range between Rs 55,000 and Rs 95,000. 1. Accommodation costs Student housing is usually difficult to come by. The best place to begin is through your university's student services. They will frequently have relevant information or will be able to assist you in contacting the organizations that deal with student housing (or dorms).  Dormitories are a wonderful option for international students wishing to meet new people and find people who share their interests.  For Indian students, the living costs in Stockholm might range between ₹20,000 and ₹50,000 per month.  The second alternative, which is far more popular than the first, is to share a residence with other international students. So the average monthly living cost in an apartment in Stockholm is roughly ₹50,000 - ₹60,000. According to your child’s necessities, this could be a terrific way to avoid feeling lonely and alone. 2. Cost of transportation in Stockholm In Sweden, public transportation is extremely valued among students. It is used by more than 40% of students to get to university and other sites around town. It normally costs between ₹3,000 and ₹4,500 per month. Your child can also choose to ride a bike for transportation, costing them between ₹9,000 and $10,000 per month. In Stockholm, 27% of students use bicycles to get to the city. 3. Food expenses in Stockholm Food prices can vary greatly based on your child’s eating habits. If they cook, they may spend between ₹14,000 and ₹ 20,000 each month. If they eat a lot of takeout, that amount may be between ₹20,000 and ₹25,000. However, there are alternatives to cut these prices, such as shopping at low-cost supermarkets like Lidl, Willy's, and suburban stores.  In Stockholm, an average lunch costs between ₹600 and ₹800.  A three-course supper for two in a typical restaurant may cost between Rs 3,500 and Rs 5,500.  That may not appear to be much to you. But for the typical Swedish, it's a lot. 4. Another miscellaneous cost Study material including books: ₹6,000 - 6,500 per month Entertainment and social activities: ₹5,500 - 8,000 per month Health insurance: plans starting at ₹2,300 per month Conclusion  Living in Sweden could be a dream come true because of its scenic beauty as well as its academic standing. But there are many challenges, the major being the language barrier and expensive living. There are scholarships and grants available through universities as well as government and non-government organizations that can ease the financial aspect.  Stockholm is the capital of Sweden and has great study and work opportunities, you just need to prove yourself. Scoring high in your academics is crucial and will definitely be rewarding. If there is any confusion or concern regarding the financial aspects of living and studying in Stockholm, our team of financial experts is constantly available to clarify your doubts and guide you in fulfilling your child's dreams. TALK TO AN EXPERT

Study MS in Germany Germany is one of the most popular destinations for foreign students among non-English speaking countries. Tuition & other higher education expenditures are a big source of stress for many students and are typically only addressed with careful planning.  However, for a number of European countries, such as Germany, this problematic scenario is nothing more than a myth! Reforms in the German educational system Germany made radical reforms to its national higher education system, the most prominent of which was eliminating tuition fees at public institutions. Consequently, the nation declared that there would only be a semester payment of roughly €200.  This semester's payment includes a free public transportation ticket to various German universities. To be able to sign up for some free Master's courses, one must have a Bachelor's degree in the same field from the previous university. Ways to save for studying MS in Germany Most students travel to Germany to pursue graduate courses or a specialized 12-month program. Many parents combine grants, loans, work-study programs, investments, and other sources to pay for their children’s education. Let's now explore how simple it is to pursue and fund a Master's degree in Germany, the nation of ideas. 1. Savings Once parents desire a master's degree for their child in Germany, they should start saving money for their first semester of college. Many institutions and banks will cover 10-20% of the education expenditures. An early savings plan helps alleviate financial stress.  Educational inflation is substantially greater than household inflation, nearly doubling in specific popular education locations. Starting a specialized investment portfolio for this purpose can have long-term benefits, mainly if the assets are in equity-based asset types. These investments, given enough time, can compound and produce substantial profits. 2. Grants and scholarships Scholarships are occasionally awarded by international universities based on merit or other reasons. Other organizations offer scholarships to students who want to study abroad. These scholarships are based on need, merit, diversity, etc. An extensive study on prospective scholarships is required. Parents should start looking for scholarships a year before the admissions deadline. Scholarships and assistantships are available at several colleges. However, securing a scholarship is becoming increasingly tricky unless you know the faculty, have a fantastic academic standing of your child, or are already on campus and realize which scholarships and assistantships are available. 3. Mutual Funds, US ETFs Mutual funds are advisable investment options for children's education strategy because they will assist parents in investing in the appropriate asset mix to ensure their goal's success. Mutual funds allow you to have exposure to equities while diversifying the risk involved with investing in individual stocks. Parents should invest in mutual funds through a systematic investment plan (SIP) using their regular savings. ETFs can be the foundation for a long-term investment goal such as financing a college education. ETFs allow investors to buy numerous stocks or bonds at once parents can invest in company stocks, governmental or corporate bonds, and commodities. They should invest in a fund that monitors an index rather than individual assets. When investing in your children's higher education, some of the best options will be well-diversified, reduced, and tax-efficient funds. 2022 Germany International Student Statistics Germany has over 400,000 international students registered in its higher education institutions, with 416,437 international students registered in the German higher education institutions as of the winter semester of 2020/2021. Survey results reveal that 15.1% of students find the country attractive as:  Tuition fees are low: 35.3%. Academic Quality and Experienced Professors - 29.3% Student Diversity and English Language Programs: 20.4% International student numbers in Germany increased by 1.17% between 2019/2020 and 2020/2021. Between 2014 and 2019, the number of international students in Germany increased by around 30.9% and 38.19% between 2014 and 2021. International student enrollment in Germany has steadily increased over the years. Top universities for studying MS in Germany When choosing to opt for a Master’s degree in Germany for their child, parents should be aware of the global rankings as well as the costs of studying at these prominent German universities. The following are the details for the most prominent popular institutions in Germany that offer Masters degrees: Germany has 426 accredited universities. Three of them are in the top 100 QS World University Rankings (2022) and ten are in the top 200. Cost of studying MS in Germany Germany is the go-to destination for Indian students aspiring to study MS courses. In fact, Germany saw over 10% increase in student enrolments from India in the last year. If you are looking for an affordable country for studying abroad but do not want to compromise on the quality of education then Germany is your answer. Conclusion Germany is a big draw for many overseas students seeking a Master's degree due to its high educational quality, top-ranked universities, and research-oriented teaching. Another critical factor attracting parents to opt for their child’s education in Germany is the low cost of education.  Most public institutions in Germany have low Master's costs since students do not have to pay tuition. Administrative and semester fees are the only fees that students must pay. We recommend parents consult a professional expert who can guide them in the right direction and start early savings if they want to reduce tension about education funds for higher studies. TALK TO AN EXPERT

Parents should be aware of investment tips for higher education in India so that they can plan, invest, and save the required amount accordingly.  Education inflation is high at 10% - 12% a year and is considered one of the biggest outflows for an Indian family. Lifestyle inflation is also high and greatly impacts the decision of a parent to send their child to the best available educational institution. It is at such times that parents need saving tips and investment tips to plan for their child’s higher education expenses and lessen the future financial burden. Important investment tips for meeting higher education expenses Step 1: Get an estimate of the education costs One of the first investment tips for higher education in India is to get an approximate estimate of the educational expenses so that it becomes possible to make financial plans accordingly. The education costs vary from one person to another, and various other factors like the type of course selected by the child, admission in government or private institutions, and admission in India or abroad. A comprehensive assessment and a realistic estimate of the financial needs will help to create a proper financial plan for a healthy future.  Step 2: Prepare for any unexpected expenses Consider unexpected expenses besides the education expenses to meet the unforeseen needs of the child. Pocket money, accommodation costs, travel expenses, food expenses, additional tuition, and reference books are some of the expenses that parents should be prepared for. There could be occasions when parents might need to help their children financially, and it is better to be prepared for such unforeseen circumstances from the beginning.  Step 3: Identify your time frame Determine the number of years you have in hand before you have to spend on your child’s higher education. If you are an early starter, then it is well and good as you will have several years for both short-term and long-term investment plans, but even if you have realized a bit later, then there is no need for concern because there are several investment options just for these types of investors.   Establishing a time horizon and calculating the years you have in hand makes it easier to make investment plans for your child’s higher education.  Start Investing Step 4: Look at savings options Look at the savings options available in the market and choose the best available option based on time horizon, future goals, and risk tolerance. Child insurance plans and child education plans offered by insurance companies are also good options if you are looking for safe havens. In India, government saving schemes like Sukanya Samriddhi Yohana (for girls) are considered good for conservative investors as it offers tax benefits up to INR 1.5 Lakhs under Section 80C of the Income Tax Act.  Smart savings is the need of the hour, and parents have the option of choosing SIP or recurring deposits for easy and hassle-free ways to save for future needs.  Step 5: Identify the investment options Depending upon the target corpus and the rough estimate of the required returns you wish to generate, identify the investment options available to you. The ones considered suitable for a child’s higher education fund are Gold ETFs, term deposits, savings schemes, solution-oriented schemes, and mutual funds.  Investors can choose from equity, debt, and hybrid mutual fund schemes as they are high-return schemes if invested for long-term periods.  Opt for smart investments to secure your money for higher education in India because well-planned asset allocation and regular investments increase the returns at a greater pace.  Step 6: Take the help of a financial advisor Take the help of a financial advisor to save and invest sensibly. The financial advisors on the Edufund App are some of the best in the field if you are interested in creating a safe and secure personalized financial plan. The various tools at their disposal like the college cost calculator are a tremendous help in identifying future costs and making investment plans based on personal requirements.  Step 7: Start now Do not delay, as the more time you waste, the less time you have to create an appropriate education fund and accumulate the necessary amount.  Create a financial strategy now, as planning for a child’s future is more important than any other task. TALK TO AN EXPERT

Although the United States has some of the world's greatest Bachelor's and Master's programs, living expenses there might be rather expensive. In this blog, We'll talk about the living expenses in the USA for international students. Living expenses in the USA for international students Because students from all over the world intend to pursue their higher education in the USA, the cost of living in the country is often expensive for foreign students. However, prices differ according to the place that is picked as well. For instance, the cost of living for students is quite high if the institution is located in a metropolis like New York. On the other hand, the cost of living is significantly lower for institutions that are situated in suburban regions, whether in Ohio or Indiana. Let's further break down the living expenses in the USA for international students below. 1. Accommodation cost  The cost of housing comes next when determining an international student's cost of living in the USA. International students can stay on campus at the majority of American colleges, which is unquestionably the less expensive choice. You might also rent an apartment close to your school. The annual cost of housing ranges from $6000 to $12000 [INR 4.4 to 8.8 Lakhs]. If they reside close to campus, international students might also choose to live in a homestay or with local guardians or relatives to save money. 2. Health insurance cost  The cost of health insurance must be covered. Most institutions offer health insurance to overseas students, while some require them to get their coverage. Student health insurance typically costs between $1500 and $2500 (INR 1.10 to 1.8 Lakhs) annually. 3. Conveyance cost  Depending on where you reside and the distance you go, the monthly cost of travel can range from $40 to $100 (INR 3,000 to 7,500) for international students who rely on public transportation for transportation and travel. 4. Internet costs  International students' lives will be significantly impacted by the Internet and phones. Depending on your connection type and speed, your internet bill will change significantly each month. The cost of internet in the USA varies depending on your area, your household's needs, and the service you pick. Mobile phones are useful, but now international students must budget for the expense of cellular service in the USA. The average phone bill in the USA is currently $60 (INR 4,875) per month. 5. Entertainment cost  Students in the USA engage in social, reading, relaxation, and thought processes, participate in sports, host or attend social events, and engage in arts and crafts as a hobby. One of the finest aspects of studying in the United States is undoubtedly the nightlife. As a student, you can access everything from dance clubs to home parties. In the USA, the average cost of student entertainment is $100 (INR 8,125). We have included some typical suggestions for entertainment in the United States depending on where and how you intend to celebrate. 6. Grocery cost  The food costs also include meals and groceries: The typical person spends $400(INR 32,502)  a month on food. However, in the United States, the price might go to $800(INR 65,004) per month if someone loves dining out every other day. The cost of goods is the same across the mainland; however, the cost of eating out varies depending on the city and the restaurant. In a typical New York restaurant, a dinner for two can cost close to $100(INR 8,125). However, the price in Philadelphia will be around $80(INR 6,500). For students living on campus, meal plans might run about $250 (INR 20,313)  per month. 7. Other essential expenses Other costs, such as those for clothes, books, stationery, and other miscellaneous items, fall under the category of the cost of living in the United States for students. These things' prices differ on the buyer and city. These costs might range from $5000 to $6000 (INR 3.6 to 4.4 Lakhs) per year or higher. How to save for living expenses in the USA for international students?  There are a few short- and long-term strategies that might help you save for your child's further study in the USA. One easy method is to split the sum, which is assumed to be 1 crore, and set away around 40,000 each month, or approximately 4.5 lakh annually for 18 years, and to begin saving when your child is still a little child. Put your money to work by investing it for up to 18 years. If you continue saving for the future, SIPs can provide you with amazing profits in 18 years. The final and most challenging alternative is to apply for and then repay an education loan. Education funding, scholarships, and part-time jobs can help to some extent offset the growing cost of attending school in the USA. Start saving now before it's too late if your child plans to study abroad in the USA for their future studies Consult an expert advisor to get the right plan TALK TO AN EXPERT

Exploring the best way to fund your child’s higher education is a crucial step in planning your child’s future education plans. While getting an education loan is the more popular route in India, many people do not know that you can also get a personal loan for higher education for your child.  Personal loan for higher education for your child  When you think of financing your child’s education, you automatically think of education loans. Education loans are extremely helpful when it comes to funding your child’s education but there can be some obstacles that may stop you from availing of this option. Another equally beneficial option is to avail of a personal loan for education.   Personal loans for education are flexible and collateral-free with a high approval rate. Using a personal loan for higher education for your child allows you to cover multiple expenses. They are flexible and processed immediately so that you have to cover costs like university application fees, accommodation deposits, flight tickets, insurance, and much more.   Popular banks in India like ICICI Bank, Axis Bank, and many more allow parents to take personal loans for higher education purposes. These loans are collateral-free which means you are not required to pledge your property, FD, or other assets to the bank. Instead, these banks evaluate personal loan applications based on your credit history and annual income.   Every bank has a different criterion for processing personal loans. Since these are unsecured and collateral-free the rejection rate may be higher. Maintaining a good credit score and having a clean financial record is a must if you want your application to be approved faster. Benefits of Personal loan for higher education  Personal loans are a quick solution to an immediate cash need. Whether it's buying a new laptop or covering up part of your child’s higher education. Let’s look at some of the benefits of personal loans for higher education:   No collateral: You do not need to attach your property, FD, bond, or other assets for availing of personal loans.   Easy to get: Banks allow clients to get personal loans online and offline. The accessibility of personal loans in India has grown tremendously.  Limited documents: Personal loans do not require many documents for processing.   Flexibility: You can use your personal loan to buy a new laptop for your child or to cover some immediate expenses like a trip.   Builds credit score: Personal loans can help you build a credit score and help you, in the long run, to take big loans for education or your own house.   Fast approval: Some banks approve personal loan applications within the day. That’s how fast the approval cycle for personal loans is in India. Personal loan vs Education loan for higher education  If you are planning your child’s higher education and wondering which is better, then let’s help you compare the two types of loans.  Education Loan Personal Loan Interest Rates Interest rates generally range between 6.85 – 11% Interest rates generally range between 10 – 17% Tax Benefits  Tax benefits on repayment of education loan is possible under Sec 80 E of the Indian Income Tax Act. No tax deduction is available for repayment of personal loans.  Average Loan Amount Rs 50,000 and as high as Rs 1.5 Crores Rs 50,000 to Rs 50 lakhs Moratorium Period 6 -12 months None  Based on the above table, an education loan is a clear winner when it comes to financing higher education for your child. It offers lower interest rates, tax benefits, a greater loan amount, and a moratorium period wherein your child can get a job and start repaying the loan amount with their own income.   However, personal loans can also be a backup plan or an alternative in case you do not have a good education loan. They can help you cover a number of costs, easy to process, and can help you with immediate cashflow needs. How to choose the right personal loan for higher education?  Choosing the right personal loan for higher education requires research and extensive comparison. Check the interest rates and repayment plans of different banks before deciding on a personal loan. Generally, interest rates are higher on personal loans so choose the right personal loan with the lowest interest rate in the market.   You can also connect with an expert to help you choose the right personal loan for your personal needs. They can help you negotiate a better interest rate and help you plan your repayment strategy so that you can save money.   Determine how much money you need to finance your higher education before opting for a personal loan. You can use the College Cost Calculator to find out the tuition fees and living expenses in your college city and figure out how much more money you need in order to be comfortable.   Try to take only 25% as a loan so that you can create a comfortable loan repayment plan. Try to make sure your income can easily help you pay off the loan without any added financial stress.    You can always opt for a personal loan for higher education for your child if you are in need of funds. Do your research, determine which is the best option for you and your child, and then finalize a solid education plan to help build a bright future for your child! Consult an expert advisor to get the right plan TALK TO AN EXPERT

New York is called the City of Dreams which is why so many people want to study in this global metropolis. However, as one might assume, it is not the most affordable area to live in. We realize how scary it might be to go to a new nation as a student for the first time. So we've outlined all of the prices a student can expect to incur while relocating to New York. Learn everything there is to know about the living expenses in New York for students. Cost of living in New York 1. Accommodation  Rent in New York is determined by a variety of factors, including whether your child lives on or off campus. In New York, there are numerous possibilities for residents. Off-campus housing in New York costs roughly ₹3 - 4 lakhs per month. The sum stated is an average and is subject to vary, and it may increase based on your child’s choice of housing. The table below shows the average cost of living on campus at several New York universities. 2. Cleaning services Price ranges from around ₹10,000 - 30,000 depending on the number of bedrooms in the apartment. Alternatively, they can pay around ₹2,500 - 3,000 per cleaning for a minimum of two hours.  3. Groceries Groceries would cost around ₹2.5 - 3 lakhs per month for a single person to meet basic needs. 4. Utilities The essentials for an apartment - electricity, heating, cooling, water, and garbage - will cost between ₹6,000 - ₹20,000. 5. Healthcare and insurance  Health insurance is a significant expense that must be paid. Most institutions offer international students health insurance, while others encourage students to obtain their own. The average annual cost of student health insurance ranges between ₹1.2- 2 lakhs. 6. Health Card To apply, the student has to go to the Residential Affairs Division of their local City or Ward Office. The premium is determined by their age and previous year's wages.  7. Essential benefit plan There is also a strategy in place for low-wage workers and the unemployed. The Essential Benefits Plan (EBP) is the basic minimum of health insurance coverage that all New York citizens are required to have. It offers critical services at a reasonable cost.  8. Transportation Taking public transportation is the most cost-effective and time-efficient way to get around New York. A 30-day metro and local bus pass costs ₹10,400 approx. and permits to travel till midnight. Taxis, on the other hand, begin at about ₹204 for the first km and around ₹132 for each additional kilometer. Vehicle ownership: Due to high insurance and gas taxes, car ownership in New York is slightly more costly than the national average. Without considering an auto loan, a person should expect to pay around ₹1.5 - 2 lakhs each year. They may, however, limit their spending by choosing the type of vehicle they purchase and how they pay for it.  Public Transportation: Most metro rides, as well as local, limited, and Select Bus Service buses, cost ₹225 roughly. An express bus ticket costs about ₹552. Use a MetroCard or OMNY's contactless payment system to pay. 9. Entertainment cost In New York City, the estimated price of entertainment and activities is ₹6,000 - 7,000 per person, per day. This includes admission fees to museums and attractions, day trips, and other tourist expenses.  10. Other expenses  Clothing, books, stationery, and other charges are among the numerous expenses that international students must cover as part of the cost of living in New York. The cost of these items depends greatly on who you ask. These items could cost between ₹4 - 5 lakhs per year or more. Additional read: How much to save for an MBA in the USA Study cost in New York 1. Tuition Fees Different universities in New York have different tuition prices. However, the average cost of attending college in New York is roughly ₹2.5 - 3 crores for international students of Indian origin. To get an accurate estimate of how much it costs to study in New York, try the College Cost Calculator!  Student visa and application cost International students should apply for a student visa after obtaining their admission letters. Once approved by a school recognized by the Student and Exchange Visitor Program, they should enroll with the Student and Exchange Visitor Information System (SEVIS) and deposit the Rs 25,000 - Rs 30,000 registration fee. After that, international students must file for a student visa and pay a fee of ₹10,000 - 15,000. The cost of living is entirely dependent on whether you choose to live on campus or off campus. Now that you know how much it costs to live in New York as a student, you can make an informed decision. If you require any more support with institutions, the application procedure, finances, documentation, or anything else, our team of financial experts is always available. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Australia is a popular study abroad location for students, and it offers some of the greatest master's programs in the world. According to the QS World University Rankings 2020, seven Australian universities are among the top 100 in the world.  The following is a general breakdown of the key costs of studying in Australia. Application fees (Once) - ₹2500 - 5500 Tuition Fees - ₹45 lakhs - 1 crore Flight Tickets - ₹80,000 - 1,00,000 Registration for English test (Once) - ₹14,000 Visa application (Student Subclass 500) - ₹30,000 Living expenses (yearly) - ₹12 - 17 lakhs Health insurance (yearly) - ₹25,000 Total - ₹21 - 36 lakhs Cost of education in Australia The figures reflect the annual cost of international education for international students studying in Australia. Course Vocational Education and Training - ₹1,95,000 - 9,70,000 Undergraduate Bachelor Degree - ₹9,71,000 - 21,90,000 Postgraduate Masters Degree - ₹10,70,000 - 24,28,000 Doctoral Degree - ₹8,75,000 - 20,40,000 Note: The figures exclude veterinary and medical courses, as well as other high-cost delivery options.  Fees at top institutions may be higher. It is usually a good idea to check the official website of the preferred university. Accommodation costs in Australia Do you dread spending too much money? It is usually a good idea to keep track of the spending habits of your child and help them control their expenses. Let us now go over some numbers to give you an idea of how much you will be spending on their housing in Australia. Hotels and Guesthouses - ₹4,400 - 7,200 per week Homestay - ₹11,000 - 16,000 per week Rental - ₹9,000 - 21,000 per week Shared Rental - ₹4,600 - 6,000 per week On-campus - ₹5,000 - 13,000 per week Note: Universities may not be capable of taking in all international students.  Students may be required to stay off campus.  Sharing personal space significantly lowers the cost of living. Living costs for International students in Australia  You are aware that the story does not finish with locating a place to stay. There are numerous other living expenses to consider. Let us break down the cost of living in Australia for your child. Everyday expenses Groceries and eating out - ₹7,000 - 14,000 weekly Ask your child to look for the most reasonable supermarkets around them, e.g., Woolworth, Aldi, and Coles. Phone and internet - ₹700 - 1,500 weekly Finding plans that are cheap help save a lot of money.  Ask and request student discounts. Gas and electricity - ₹1,000 - 5,000 weekly Cooking at home is a great way to save money. Public transport - ₹1,400 - 3,000 weekly Buying a monthly or weekly pass for a train or bus, depending on your routes, will be very reasonable. Ask and request student discounts. They should try renting bicycles for everyday commutes. Entertainment - ₹3,800 - 7,200 weekly This can go as high or low as your child wants. Car maintenance - ₹7,200 - 12,000 weekly Applies only if they own a vehicle. If these costs are causing you concern, keep in mind that your child can certainly work while pursuing their studies in Australia, and there are several job options available. Health insurance  The Department of Immigration and Citizenship requires everyone to acquire Overseas Student Health Cover (OSHC) as part of the visa application procedure.  Individual health insurance costs about $8,000 - $10,000 per month on average.  It is available for purchase either individually or through an educational provider.  In all of these scenarios, your child is solely responsible for the policy's upkeep. Additional read: Reasons to study in Australia Airfares  It's time to take off for Australia. The one-time fare may be around ₹1 lakh. Your child must also have return airfare as part of their funds when applying for an Australian visa.  Other costs  Now that you've seen the big costs of living and tuition, have a look at some minor charges. Study material including books- ₹25,000 - 50,000 per annum Reading study material online may help in reducing costs. Student Service and Amenities fees - Maximum ₹15,000 Not all universities levy these charges, but you should confirm beforehand. Taxes - This depends completely on your child’s income They should get a Tax File Number (TFN), in any case, before they start working. Their income is always taxable; no tax till an income of AUD 18,200, 19 cents for each $1 over $18,200, and so on. Conclusion  Because of the exchange rates, it is evident that the expenses in Australia would be a lot. If calculated and worked out well, it is not very difficult to send your child to study abroad. Always keep in mind that the tuition fee is just a part of the total expenses to be borne, the rest is where it gets tricky. Planning and teaching your children to manage their expenses before sending them to study is a good idea. This will help them maintain a comfortable life financially.  In case there is any confusion or concern regarding the financial aspects of these factors, our team of financial advisors is constantly available for your guidance. FAQ What is the average living cost in Australia? Hotels and Guesthouses - ₹4,400 - 7,200 per week Homestay - ₹11,000 - 16,000 per week Rental - ₹9,000 - 21,000 per week Shared Rental - ₹4,600 - 6,000 per week On-campus - ₹5,000 - 13,000 per week How much is the rent in Australia? Rental - ₹9,000 - 21,000 per week Consult an expert advisor to get the right plan TALK TO AN EXPERT

Ever wondered why international students pay more tuition than domestic students in a foreign country? In countries like UK and Canada, the tuition cost for international students is double the amount charged to domestic students.   Let’s take the example of Kings College London, UK. The current tuition fee for 2023-24 to study BA English for international students is £23,160 per year while for domestic students, it is £9,250 per year. In Indian rupees, the yearly cost would be nearly Rs. 21 lakhs for international students while for domestic students, it is Rs. 8. 34 lakhs!   This is not just the story of Kings College London, UK. Many more universities charge international students more than their domestic counterparts. Let’s explore why! Reasons why international students pay more   There are multiple reasons why international students pay more tuition fees than domestic students.  Lack of government funding or government caps like its present for the UK and European students in the United Kingdom.    International tuition fees are a major source of income for the government and foreign universities.   Education inflation refers to the rising cost of education on a yearly basis. Inflation affects the cost of education directly and has led to an increase in annual tuition fees not just at top universities in foreign countries but in government universities in India as well.   Universities are employers and a hub for research. This means that they need revenue to facilitate their yearly expenses like research, paying salaries, and maintaining the infrastructure. The revenue for these costs comes largely from tuition fees which is why international students end up paying more Are higher tuition fees problematic for international students?  Higher tuition fees can be an obstacle for many international students. International students struggle with annual fees as well as the rising costs of accommodation, travel, and daily expenses in foreign countries. Most international students depend on their parents to finance their education which means that they not only have to pay more in tuition fees but their purchasing power is less because their parents are earning in local currencies.   For instance, the fall of the rupee against the dollar has financially affected Indian students studying in the US currently. The price of living expenses has gone up due to rising inflation. How can you manage to manage higher tuition fees?  The cost of education is readily increasing and the only way to cope with it is to start saving and investing. If you are a parent and want to send your child abroad then investing in mutual funds via SIP and exploring US stocks is a great saving strategy. The benefits of both investing strategies are limitless:   A SIP in mutual funds allows you to save and invest gradually. You can start with Rs. 2000 every month or more depending upon your goal target and gradually increase the invested amount to combat the rising inflationary prices.   Investing in US dollars gives you an edge because you not only get better returns but you will be able to secure your purchasing power if your child decides to study abroad. Gaining returns in dollars and spending in dollars is better than earning in rupees and spending in dollars! Thus, investing in US stocks and funds gives you an upper hand and helps you plan a solid future for your child.   There are many more options that can help you fund your tuition fees. You can opt for an education loan, and explore scholarships and grants that can partially or fully fund your education expenses. Knowing the cost of tuition fees and the consequent living expenses and calculating it can truly help you plan this education journey better; it will allow you to make strategic decisions and create an education corpus fit to study anywhere in the world.   Consult an expert advisor to get the right plan TALK TO AN EXPERT

Do you think education loans are the only way to pay for higher education? Do you think the moratorium period is interest-free or that you can only get an education loan from foreign universities? It’s time to burst the myths about education loans and help you plan for your child’s higher education smartly with all the facts in check! The moratorium period is interest-free  A myth about education loans is that the moratorium period wherein the borrower is not obligated to make payments is interest-free. This is not true; the moratorium period is a time when it is not compulsory for the borrower to start making payments to the bank. The interest accumulated during this period is added to your next installment and not waived.   Banks generally calculate the interest generated during the moratorium period and add it to the principal repayment amount. Most banks offer a moratorium period for education loans. During this time horizon, the borrower must figure out their expenses and work on a financial repayment plan for the loan. Apply for Education Loans Education loans are only for foreign universities  Education loans are offered for Indian and foreign universities. The myth about education loans and lenders is that education loans are only given to students planning to go abroad and for huge amounts like Rs. 50 lakhs or more. This is incorrect, parents who wish to educate their children in India can avail of education loans starting at Rs. 50,000 and more. They have the flexibility to choose their lender and figure out the best interest rate and the most favorable loan requirements for their child’s education.   In fact, most banks allow students to take on a personal loan to take online courses and even online master's programs to upskill and aim for better job opportunities. Yet seeking an education loan for an online degree is not an option at the moment.   Education Loan Process Read More Using savings is better Using savings is better than taking a loan is another misnomer and myth about education loans. While it is ideal to have an education fund that can sponsor your education, it may not be possible for everyone. In fact, 60% of Indian parents regret not saving for their child’s education but that should not stop you.  Neither should you opt for selling assets or borrowing informally, education loans offer flexibility and can be a good alternative for children who are in need of immediate funds from trusted institutions.   Taking an education loan means you won’t have to sell your assets, you will have time to start the repayment process and the stress of paying immediately will be lifted off your shoulders. Taking a loan can also help you in the long run with credit building and other expenses.   Education loan is only for Ivy League Another myth about education loans is that only students going to Ivy League colleges can opt for them. Education loans are given to candidates who have a good application and are applying to a recognized university. You do not have to go for an Ivy League to apply for an education loan, all you need is a good course and a recognized university so that your application can be processed and verified!   Education loans only cover tuition fees  Education loans cover a number of expenses including tuition fees, accommodation, application fees, flights and books, and more. It helps you sponsor your education and not just tuition fees. It gives you the flexibility to decide how you spend your money and how much you need to comfortably settle into your new life as a student.   Applications without collateral are rejected   Applications without collateral are not rejected; in fact, many education loans are collateral-free. Collateral-free means you don’t have to pledge an asset (like land, house, or FDs) to avail of an education loan. Education loans are designed to make education more affordable and accessible for the general public which is why some education loans do not have a collateral clause as well.   You can only finance your education with a loan No! There is ‘n’ a number of ways to finance your education and a loan is just one of them. You can sponsor your education with scholarships, grants, bursaries, and an education fund your parents may have saved up for you. As a parent, you can help your child fund their education through SIP in mutual funds, by investing in US stocks, and by exploring different investment options. An education loan is also a great alternative to help you finance your dream college and career, it helps you with big expenses like tuition fees, accommodation as well and visa applications where you have to show proof of funds in order to fly to a study abroad destination.   You can finance your study abroad or higher education dreams in combination. If you have some savings and lack the rest of the funds then an education loan is the right way forward.   We hope this article helped you break all the myths about education loans! If you are looking for the right education loan for your child then look no further, contact our savings experts to get the best loan at attractive interest rates.  TALK TO AN EXPERT

In the previous article, we learned how to use a SIP calculator to estimate your expected return over a given period with a fixed amount of monthly investment and an expected rate of return. In this article, we will discuss the Step-up SIP calculator.  SIP (Systematic Investment Plan) is a method of investing that requires consistency in investments, even if the amount is small. It focuses on time and needs the compounding cycle not to break.  What is a Growing SIP Calculator (Step-up SIP calculator)?   The SIP investment format has great potential to build wealth for you. However, if you step up your fixed periodical investment amount by some percentage every year, you will generate more returns and have a massive corpus.   Stepping up your SIP is beneficial if you have constant income growth. For example, if you are currently investing Rs 10,000 a month in your SIP, then after one year, you increase your monthly investment amount by 15% and keep on doing this in successive years. This method of increasing your monthly investment is called stepping up your SIP. How does a Growing SIP Calculator (Step-up SIP calculator) help?   A Step-up SIP calculator will give you the future value of your SIP investments which you keep on increasing periodically by a given percentage. This calculator is different from the average SIP calculator in one sense it requires the step-up percentage as an input as well.   To calculate your returns, you have to input the values of your monthly investment amount, the growth percentage of your SIP investment, the expected rate of return, and the tenure of investment. Source: Edufund The step-up calculator is helpful to you as an investor in the following ways Get results about complex investment scenarios with a single click Obtain the estimated potential returns   Compare various SIP options by varying the inputs in the formula   Assists you in making well-informed and calculative decisions regarding your investments Free-of-cost calculation   Easy to use   Benefits of SIP 1. Financial discipline  When you opt for a SIP, you indirectly get into the habit of keeping aside an amount of money from your income for investment. The fact that there will be a monthly deduction towards a scheme will ensure you keep track of your income and expenses on a periodical basis to ensure the investment is not hindered. You also will be planning your expenses after you have invested an amount at the beginning of the month.    2. Fund managers Mutual fund investments are supervised by professional fund managers who have proven experience in managing portfolios. They observe market trends and make wise decisions in order to grow your money and minimize major losses. This will be a great advantage for someone who is not well-versed in investment and struggles with financial jargon. When you choose SIPs, you invest money periodically and have a professional fund manager overseeing your investments.    3. The fruits of compounding  The returns on your investment benefit from compounding. Compounding means you don’t just get the return on what you spend out of your pocket but also what you earn from it. This basically leads to your corpus getting richer with time. You can enjoy the power of compounding when you choose a SIP and stay dedicated to the investment for a long time.   4. Rupee cost averaging This is one of the major benefits of compounding. When you invest an amount through SIP, you do not need to worry about timing the market. You buy a high number of units when the NAV is low due to the markets, and on the other hand, you buy a lesser number of units when the NAV is high. This factor of SIP ensures the overall cost of purchasing mutual fund units averages out over the tenure of investment. Important points to note about the Growing SIP calculator (Step-up SIP calculator) Systematic Investment Plans come with semi-annual and annual stepping-up options. As an investor, you cannot increase the size of an existing SIP; the option becomes active only if you select the option concerned while setting up the SIP.   If the step-up option is not selected, you will need to start a new SIP by selecting the step-up option.  A valid reason to step up your SIP is the logic of raising your savings with your rising income. You can directly transfer your increased savings into your existing SIP if you have a Step Up SIP instead of creating a new one.  You can automate your SIP settings to raise the investment amount to the necessary level without worrying. For example, if you are sure of getting an income raise of 10%, you can enter the step-up percentage at 7% - 8%. The longer you invest, the longer you allow the magic of compounding to work. FAQs How is Step Up SIP calculated?   The Step-up SIP calculator helps you calculate your returns. For example, if you invest Rs.5000 through SIP monthly and decide to step up your SIP amount by 10% every year, your investment amount will increase to Rs.5500 for the next investment tenure. Why is Step Up SIP better? Step Up SIP is one of the best options for people who lack financial discipline. They, most often than not, fail to increase their SIP amount when their income increases. A step-up SIP will automatically raise their investment amount by a predetermined percentage every year. Which SIP is best for 1000 per month? Franklin India Feeder Franklin U S Opportunities Fund for SIP Canara Robeco Bluechip Equity Fund for SIP. Canara Robeco Emerging Equities Fund for SIP. Nippon India Value Fund for SIP. Nippon India Arbitrage Fund for SIP. Which SIP is best for 10 years? Franklin India Technology Fund ICICI Prudential Technology Fund PGIM India Global Agribusiness Offshore Fund Aditya Birla Sun Life Digital India Fund SBI Technology Opportunities Fund

The level of education in the UK is undeniably high, but one of the most worrisome realities is how expensive it is for international students to study in the UK. Living expenses in the UK for international students 1. Accommodation cost  The cost of housing is a significant factor that raises the price of studying in the UK for international students. Following are the types of accommodations and their costs in the UK: University Accommodation: For overseas students, the majority of institutions provide housing on campus or at a reduced rate. This can be obtained at no additional cost as part of your offer or for a fee. University residence halls are frequently where the best and most affordable solutions may be found. Private Accommodation: Look for housing that is closer to your institution if you decide to live in a private house. You can find a respectable location to live and study for GBP 350 to 550 (INR 31,000 to 49,000) each month. The most expensive of these cities in the UK is London, however, prices may var 2. Travel Cost  The subway is the least expensive form of transportation in and around the UK. The London Underground has a huge network and affordable rates. There are a variety of student discounts available to reduce the cost of travel. For Short Distance: Buses, regional trains, and tubes are all readily accessible. Getting a monthly bus or tube pass is the most cost-effective option. It is advisable to make sure that a taxi is on the meter before you order one. It is essential to decide on a sum in advance in cases when the meter is not functioning to prevent misunderstanding. For Long Distance: It is advisable to choose any of the following alternatives if you want to travel a great distance, such as from one city to another: Railways Air An intercity bus 3. Utility Cost  The monthly cost of essential services like electricity, water, gas, etc. ranges from GBP 50 to 120 (INR  4,500 to 11,000). The following are the necessary lists for utilities and daily/monthly necessities: Bills (electricity/ gas/ water) Mobile phones Clothes Toiletries Food and housekeeping Books and stationery Transportation, etc. 4. Food Costs Meal expenses may be kept to a minimum to save money. If you cook at home, you can spend about GBP 80 to 100 (INR 7,100 to 8,900) each month, or about GBP 250 (INR 20,000) if you buy meals or go out. 5. Entertainment cost Your monthly expenses for leisure and pleasure activities might range from GBP 50-250 (INR 4,500-23,000). 6. Taxes and insurance cost The greatest approach for overseas students to handle their everyday living expenses in the UK is through part-time employment. The opportunity to work 20 hours per week is available to every international student in the UK. While their lessons are in session, they are engaging in this behavior. During breaks, it switches to full-time. However, you will be required to pay national insurance and tax if you obtain employment in the UK while you are still a student: National Insurance: If you make more than GBP 166 (INR 16,458) each week, you must pay National Insurance.  Income Tax: If you make more than GBP 1,042 (INR 1.03 Lakhs) each week, you must pay income tax.  As a student, you must carry insurance, for which you must pay a monthly cost of between GBP 15 to 25 (INR 1,400 to 2,300). Other personal expenditures including clothing, hygiene, books, study materials, etc., run around GBP 100 (INR 8,900) each month. Top budget cities for international students in the UK How to save for living expenses in the UK for international students? You may save for your child's future studies in the UK is using a few short- and long-term tactics. One simple strategy is to divide the sum assumed to be 1 crore and set aside around 40,000 per month, or roughly 4.5 lakh yearly for 18 years, and to start saving when your child is still a little child. Invest your money for up to 18 years to put it to work. SIPs might provide you with incredible rewards in 18 years if you keep investing for the future. Applying for and then repaying an education loan is the last and most difficult option. The rising expense of attending school in the UK can be somewhat countered by education subsidies, scholarships, and part-time employment. If your child intends to pursue further education in the UK while studying abroad, start saving now before it's too late!

Though the question may seem simple, there is no “one size fits all” response. Many Indian students going abroad for higher studies choose the US, Canada, or the UK to pursue law, an MBA, or STEM courses because of the standard of education and quality of reputed universities present in these countries.    The US and the UK offer students various benefits: quality education, a standard of living, excellent career opportunities, and part-time job offers, amongst others. To help you with the question, we will be doing a basic comparison between studying in the US and the UK to give you better clarity on education opportunities in these two countries. Top 5 universities in the US:   Massachusetts Institute of Technology- World Rank 1   Stanford University- World Rank 3   Harvard University- World Rank 5   California Institute of Technology- World Rank 6   University of Chicago- World Rank 10   Source: QS World University Rankings 2023   Top 5 universities in the UK:   University of Cambridge- World Rank 2   University of Oxford- World Rank 4   Imperial College of London- World Rank 6   University College London- World Rank 8   The University of Edinburgh- World Rank 15   Source: QS World University Rankings 2023   The US and the UK are home to most of the top 10 universities in the world. You can choose the US or the UK if your course and budget align with the universities mentioned above. Top courses - US vs UK The US offers top study programs for courses - Engineering, Business Management, Maths, and Computer Science, Social Science, Law, Medical Science, Fashion Design, Accounting, and Economics.    While the UK is best suited for the courses - Business and Administration Studies, Bioscience, Health and Medicine, Computer Science, Design Studies, Nursing, Law, Psychology, Sports and Exercise Science, and Subjects allied to Medicine.   Depending on the course of your choice, you can pick the best-fit country for you and pursue your education. Cost of education & living - US vs UK  The tuition fees for undergraduate courses in the US can cost you anywhere between 16 lakhs- 50 lakhs per year, while postgraduate courses can cost you between 16 lakhs - 57 lakhs per annum. The undergraduate courses can last for 4 years, and the PG courses go up to 2 years.    You would have to spend between 14 lakhs- 34 lakhs per year for undergraduate courses that last for 3 years in the UK. Postgraduate courses that last between 1-2 years can cost you 14 lakhs- 85 lakhs. The cost of studying is comparatively cheaper in the UK, given the duration of UG and PG courses are shorter.   The cost of living can vary depending on the type of accommodation, and the choice of lifestyle students prefer. The average cost of living in the US for an international student is 8 lakhs - 15 lakhs per year, while the average cost in the UK can be between 9 lakhs - 14 lakhs per year. Additional read: MBA in finance vs Masters in finance Can you work while studying in the US and the UK?   You can work up to 20 hours per week and 40 hours per week during holidays inside the campus in the US. However, working off-campus in the US is challenging as many universities don’t prefer international students working off-campus due to visa-related restrictions.    International students can work up to 20 hours per week inside the campus under a university employer, part-time in the UK. A few universities allow students to work off-campus in the UK depending on their choice of study program.    Both the countries offer to stay back option to international students post-completion of their course. The British government recently made amendments to its rules allowing international students to stay back for two years post-degree completion. The US allows international students to apply for OPT (optional practical training), which helps them to gain work experience in their field of study for 1 year after completion of the course. Employment opportunities - US vs UK  Both the US and the UK offer international students a variety of job opportunities. The US provides better options in finance, dentistry, management, and software engineering roles. And the UK provides good opportunities in aviation, corporate management, nursing, and mechanical engineering.     We hope the comparison helped you get some clarity on the diverse opportunities the US and the UK offer international students. Make a wise choice depending on your passion, study program, and budget limitations. For better insights and information, talk to educational counselors on the EduFund app.      Note: Choosing a country or course to study is all about finding your best-fit university/course/nation that matches your interests and affordability. Map out your priorities and goals and conduct extensive research before applying to a university.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

When they hear the phrase "bear market," many investors become frightened. However, compared to the length of bull markets, when the market is gaining in value, these catastrophic market downturns are unavoidable and typically only endure a short period. In this blog, we discuss when it's a smart idea to invest during a bad market. What is a bear market? A bear market is described as a period of time during which the price of securities drops by at least 20%. When a fall lasts for more than two months, a bear market is considered to have begun. Negative returns are the hallmark of a bear market. A pessimistic market attitude causes additional stock sell-offs, which further drags down the market. Several reasons, including panic selling by investors brought on by an economic crisis, such as an unanticipated catastrophic occurrence, a financial crisis in one sector, market correction, and a drop in corporate earnings, can contribute to the decline in stock prices. It takes bravery to weather the storm, and both novice and seasoned investors may find the bear market challenges. The investors' time horizon, investment goals, and risk tolerance will determine the optimal course of action during a down market. Although most people fear bear markets, they might really be the perfect time to expand your portfolio and lay the foundation for long-term wealth creation. What to do in a bear market? Your finances may suffer greatly in severe downturn markets. Salary cutbacks, payroll delays, and other financial hardships can result from economic downturns. It is advisable to prepare oneself for a faltering economy before becoming involved in bear market investment. A financial strategy must be in place in order to make wise judgments. During market turbulence, you are more prone to make hasty judgments if you don't have a strategy. 1. Short selling during a bear market Using short selling to their advantage, investors may make money during a bad market. This tactic necessitates the selling of borrowed shares, which are subsequently repurchased at a discount. If things don't go as planned, this method is very dangerous and might result in significant losses. Before placing a short sell order, short sellers must borrow shares from a broker.  The difference between the price at which the aforementioned shares were sold and subsequently bought back is the profit and loss realized by a short seller and is referred to as "covered. 2. Inverse ETFs and puts during bear markets Investors and traders can sell a certain stock at a specific price on or before a given date without being constrained by this obligation by using a put option. Put options are used as a hedge against decreasing stock prices and as a way to speculate on declining stock prices, protecting long-only portfolios.  When there aren't any bear markets, buying puts is typically a better strategy than the aforementioned short selling. Furthermore, inverse ETFs can be used to speculate or protect portfolios. By altering values in the opposite direction of the index they track, inverse ETFs work. 3. Buy stocks  All firms' stock prices decrease during a bear run. It is regarded as the ideal opportunity to invest and purchase stocks. However, you should invest in stocks of reputable businesses that will prosper in the future. Rebalance your portfolio and start concentrating on value equities rather than growth ones. 4. Buy dividend stocks  The best time to invest in firms with a history of large dividend payments is during down markets. A dependable source of recurring income is dividends. Additionally, it will let you reinvest the dividend income you get. Do not, however, neglect strong growth businesses by focusing primarily on dividend stocks. The optimum moment to purchase high-growth shares that you have been eyeing is when prices fall. 5. Timing the market  During a bear market, the majority of investors sell their holdings and leave the market. Market volatility is a reality, and although the decline causes investors to fear, trying to time the market is a futile endeavor. Riding through the storm is the best course of action during a down market. Is a bear market a good time to invest? Clearly, during periods of a bear market, investors do not have the best of times. It might not seem like the best moment to start investing in the market if you have never done so before. But there are benefits to making investments during a bad market. You are less likely to be taken in by trends since nearly none of them are successful, which is why equities are declining in value and day traders are abandoning up. Instead, you may concentrate on the crucial objective of long-term wealth growth. Both in bear and bull markets, there are a variety of strategies to make money. The secret to success is choosing the best investing instruments for each market and utilizing them effectively. A few bear market investments that let investors profit from market downturns include short selling, put options, and short or inverse ETFs. Consult an expert advisor to get the right plan TALK TO AN EXPERT