by Education plays a very important part in our lives and as a parent; it is amongst the foremost responsibilities to provide your kids quality education using which they can build a better and sustainable life and income for them.
The earlier generation or the earlier education system was much cheaper when compared to today. With less competition and good government colleges available at moderate cost, getting an education for your kids was not a big of a task. But today, children education is one of the biggest cash outflows that families must plan in advance. With the cost of higher education rising at a speed of 10% to12% a year, one can easily assume the expected cost of higher education by the year 2027. Here I have not even including the miscellaneous expenses that are not limited to tuition fees, lodging, food, travel etc. So a 4 year engineering degree that costs around INR 6 lakh today will cost you approximately INR 12 lakh in another 6 years and INR 24 lakh till we reach 2027, which is huge.