rising cost of education in india

How to Tackle the Rising Cost of Education in India?

Learn how to manage rising education costs in India through early planning, savings, investments, and insurance to meet future academic expenses.

Written by : Knowledge Center Team

2025-11-10

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6 minutes read

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The one thing on which the majority of Indian parents spend the most is their child’s education. Many parents also make financial sacrifices so that they can cover their kids' education costs. But the rate at which the education costs in India are rising is very alarming. If you want to ensure that your child receives the best education possible, be prepared to spend a significant amount of money or secure their future with a child insurance plan.

How to Build Adequate Corpus for your Child’s Education?

Building a good corpus for your child’s education is important, and not only that, you need to safeguard the goal as well. Here’s a list of steps you can follow to tackle the rising cost of education in India or abroad:

Check your Finances

Before making any plans, it is advisable that you first assess your current financial situation. To have a fair idea of where you want to go, you must have an idea of where you are right now.

Take a look at your current income and expenses, and the amount you have saved, if any.

You can prepare a budget. It involves listing all your income and expenses at once. It will help you assess where you can make more financial cuts and whether you can save more. It will also help you be disciplined.

Start Planning Early

The earlier you start planning to accumulate funds for your child’s education, the better it will be for both you and your child.

You should start by taking into account the most popular careers and their costs. This would give you an idea of how much funding you have to create.

buy a child insurance plan early

Make use of the online calculators to get an estimate and make your investments.

In general, you should start saving and investing for your child the moment they are born. It will benefit you even more if you start planning before your child is born. The more time you have in planning, the greater the chances that your fund’s value will be high.

Purchase a Child Insurance Plan

After assessing your current situation and beginning your planning, you should be considering how to grow the necessary fund to cover the cost of education.To help with this, you should purchase a child insurance or child education plan.

A child education plan gives you an opportunity to invest in the market and earn good returns. Not only this, but a child plan also comes with insurance. It covers your life so that your child can still pursue his dream even after you're no longer present with him.

The best child education plans offer a unique benefit that safeguards your child’s future even in the case of your untimely demise. The premium protection option in the child insurance plan ensures that:

  • The investment plan continues as if you are alive.
  • The insurer pays any remaining premiums on the policy.
  • The family receives the life cover sum assured right after your demise.
  • The child will receive the maturity value as originally intended.

Avoid Withdrawals

Your funds grow best when they are left untouched. Investing regularly in your child's education plan and keeping it separate gives your fund the best chance to grow by taking advantage of the power of compounding.

To meet any emergency that you may encounter in the future, it is advised that you maintain an emergency fund. Put a part of your salary into this fund and keep it with yourself or invest in funds that are liquid.

Keep Checking with your Plan

Purchasing the best child education plan is just the start of the road to securing a good education for your child. Many people make the mistake of buying a child education plan and then forgetting about it. You should avoid making this mistake. Constant review of the plan is a must. Checking with the plan at regular intervals can help you get to know the following.

  • Is your plan performing as per your expectations?
  • How are the funds that you have invested in performing?
  • Should you change your fund strategy?

So, if you check with your plan regularly, you can minimize your risks and can give the appropriate responses to market situations.

Also Read - best savings plan

Invest in Your Child’s Dreams Now

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Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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