Nowadays, pursuing good education in the inflation scenario is one of the biggest problems. Taking higher education is not within the reach of a common man. The rising costs can be prohibitive if your beloved child is keeping an eye on doing MBA from a reputed institute.
Maybe your child is not a bright student with no scholarships. At this time, Education Loan proves to be the reliable option for those people who are looking for getting admission in the institute of his / her choice.
Start with a great Financial Planning:
Your foremost priority must be to plan your child’s education aspirations. Start your planning right when your student is in the primary school. As your child passes the school leaving examination, you should have enough money to cater the rising cost of high education.
Beating into the Financial Markets
The best way to set a large amount of money is to choose the best Investment Scheme. You must study the markets regularly and should invest in the range of debt and equity schemes that will protect the principal amount and will enhance the financial gains. PPF is the best investment scheme to get good funds for your children education.
Build College Funds with the help of Insurance:
Insurance is a money back plan that returns a cash value over a defined period of time. It fits well for the people who are planning for goal specific saving. As it provides the payout after a certain period, like when your child is ready to go to college.
Benefits of Insurance:
You can also avail death benefits with the help of Insurance. In case of uneven death of the parent, the beneficiary will receive the whole sum assured and the accumulated cash value of the policy. Thus, dependents of the dead person will not have to bother anymore in case of uneven financial emergency.
Merging Insurance and Investment Tools:
While planning for child education, a person can utilize investment and insurance schemes. Insurance provides security and risk protection. Equity, on the other hand, provides high growth for your investment. Combining two of them can be effectively used to fund the child’s educational dreams.
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