Education in India is becoming more and more expensive. The cost of getting a decent school education in India has skyrocketed. As per data released by the National Sample Survey Office, the average annual expenditure on a private schooling has increased by a whopping 175% in the last 10 years. During the same period, the cost of professional or technical education has increased by 96%. If you are planning for a child’s future education, it is prudent to have a sizeable amount in the saving. Mutual funds can also be helpful for you in funding your child’s school or higher education costs.
Systematic Investment Plans (SIPs) are one of the best ways for parents to build a corpus over time for child’s education and marriage. Mutual fund SIPs can be a good bet when considered for the long term if you have best funds in your portfolio.