Dropping children off at school on day 1 is one of the sweetest, most emotional moments for parents. It becomes a permanent part of the memory lane, with parents going back to that day every chance they get.
To ensure that your little one’s education is full of happy moments like these, we advise that you take time out and plan the entire journey with your spouse. Whether we like it or not, education is quite expensive, and the only way to not let it burden the family is to make informed decisions.
How do parents support their children’s education?
We have compiled 7 tips to help you in this regard.
Start early
The earlier you start planning for your child’s education, the better. Starting early will give you more time to research options, compare costs, and save money for your child’s education. As soon as you become a parent, you can start setting aside a small amount of money every month towards their education fund.
Research different education options
India has a diverse education system with different boards, schools, and universities. Make sure you research all the available education options and decide what suits your child’s interests, strengths, and career aspirations. You should also consider factors such as location, reputation, and affordability before deciding.
Estimate education costs
Education costs in India can vary widely depending on the type of education you choose for their children. Estimate the total cost of their child’s education by factoring in tuition fees, living expenses, transportation, books, and other related costs during the decision-making process. This will help you plan your finances better and avoid any unexpected expenses in the future.
Save regularly
Once you have estimated the cost of your child’s education, you can look at ways to save. Starting a separate savings account or investing in an education plan that offers higher returns is a great idea. Saving regularly can also help parents reach education goals faster and reduce financial burdens in the future.
Take advantage of government schemes
The government of India offers various schemes and scholarships to support children’s education. Researching these schemes and taking advantage of them can reduce education costs to a large extent. You can also explore different education loans that offer low-interest rates and flexible repayment options.
Prepare for emergencies
Unexpected expenses can arise anytime, and you should be prepared to handle them. An emergency fund will help you avoid debt and stay on track with your education savings plan.
Involve children in the process
We strongly recommend that you involve your children in the education planning process. You can discuss different education options with them, encourage them to explore their interests and career aspirations, and set education goals together.
Conclusion
Planning your child’s education can be overwhelming because it requires careful consideration and a long-term approach. If you start early and plan ahead, the journey will be easier for you as well as your child.
At Kiran International School, we offer a well-rounded education to help secure children’s future while ensuring that parents are not burdened. Please visit our website for more details.