Planning for education abroad

Planning for your education abroad

Do you know how much to set aside? Find out the cost of university education, how to save for this and where to turn to for help.

For many IT professionals, education abroad is a fervent wish. Many see it as their way of upgrading their existing job, even if these are for considerably costlier studies abroad.

If you belong to this group, get an idea here of how much you need to set aside to fund university education, and how you can save up towards that target.

Planning ahead: What you should do
Here are some tips:
1. Take stock of what you have now
Before you start saving, you need a clear sense of how much you have on hand. Knowing where you are now gives you a better idea of how much you will need to save for your education fund

 Current valueEnd value
Bank savings
investments
others

2. Estimate the cost of your university education
Work out how much the tuition fees, living and other expenses might be. One simple back of the envelope calculation is to factor in inflation to how much it costs today.
3. Start saving early
The earlier you start saving, the more you can benefit from the effects of compounding to grow your savings.
To cover any shortfall you may have, you should work out:
•How much money to set aside
•What returns you would need to have
One good way is to review your current expenses. Think about which areas can be trimmed and start saving a higher fixed amount each month. Use the budget and savings calculators to help you work out the sums

Our planners will help you through the process.

Fund for your masters(USA)

Rs.20240 for 120 months

Rs.3430 for 240 months