Five Reasons to Save Early for Your Child's Education

image

Last year, tuition fee for undergraduate education in the IITs saw a whopping increase of 110% in a single year!! The fee was increased from Rs 90,000 to Rs 2 lakh per annum. Not just this, the fees got increased by 80% just 3 year ago in Apr, 2013. So, in-effect last five years saw annual fee in engineering colleges going up by more than 30% year on year. If you consider general inflation, last five years saw inflation rising by around 7% per annum. Imagine the plight of parents who might have assumed this rate of inflation and planned for higher education of their children. Despite their planning, they would have missed the goal-target by a huge margin!!