5 Reasons to Save Early for Your Child’s Education

5 Reasons to Save Early for Your Child’s Education

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Education cost is rising rapidly

Due to the recent, unexpected spike in tuition costs. To ensure more money, it would be wise to start saving early.

The recent increases in India’s inflation rates have resulted in a doubling of tuition costs.

Education costs, whether for high school or college, are affected.

Increase in career options Children may desire to follow many job paths given the abundance of career alternatives. In reality, having multiple employment options is pretty normal these days.

In addition to the well-paying and popular job alternatives like medicine, engineering, management, chartered accounting, etc.

Education Loan may not be great for your child’s future While most parents find relief in school loans, this may not always be the best course of action for parents.

The repayment of the education loan will take your child more than 5–6 years of his starting career and monthly savings. As a result, the child can wait too long to start making plans for his future.

Rising Aspirations Due to contemporary life, we are all quite aspiring. Every day that goes by opens up new alternatives for both you and your child.

Additionally, your child will experience enough peer pressure to keep up with the fast-paced, competitive environment.

Rise in foreign education options Over the past few years, it has been rather usual for Indian students to pursue higher education abroad. More Indian students than ever before are enrolling in universities abroad.

Therefore, the greater expense of attending overseas universities can significantly reduce any savings. Therefore, it is preferable that parents begin planning.

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