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The main hope of a nation lies in the proper education of its youth.
Desiderius Erasmus, Dutch humanist and theologian.


Funding Higher Education should feature high on the financial priorities of a family, and putting forth a plan at an early age is always better as the cost of Higher education is rising on year-to-year basis.

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PrepareEdit

It is highly advisable that you should start preparing for Funding Higher Education of your child as early as possible. Over a period of time the cost of education is going up and your savings may not be sufficient to fund the higher education, particularly in view of inflation. However, there is nothing to despair, with a little futuristic planning and preparation, you should be able to fund the cost of education of your child.

PlanEdit

You should decide at an early date as regards the qunatum of money you shall require to fund each child's education. This requires a little bit of planning. You have options of savings like savings bank account, certificates of deposits and other debt instruments; equities; mutual funds and many other financial assets. A sound mix is required. Suppose, you invest in shares and stocks and the stock market goes down, you may not get the required cash to fund the bills of education. Yes, a little investments in stocks may appreciate fast if you are able to select appropriate stocks at appropriate time and are able to sell them at good profits. It is easier said than done though! As such, you should be rather careful about the type of investments you select for the funding of your child's education.

perhaps it is a good policy to visualize the amount of money you may require at intervals of say within next 7 to 8 years; within next 9 to 12 or 13 years; and withing next 13 to 22 years. This will give you an idea to select a basket of investments of financial assets.

ObjectivesEdit

Within next 7 to 8 years
Within next 9 to 12 or 13 years
Withing next 13 to 22 years

OptionsEdit

Apart from your own savings invested in a basket of financial assets and ready to be en-cashed at appropriate time, you may also consider certain other options to supplement your own efforts. Some of them may be;

  • In case, relatives inquire about gifting something to your child, you may suggest Savings gifts.
  • You may also apply for financial aid and scholarships.
  • Build a social network to learn about other possible options to fund higher education and try to learn form the live experiences of your friends and relatives.
  • Sometimes inexpensive schools are also great! Don't completely rule out them.

External resourcesEdit

ASX Share Prices US Stock Market Info Account Reconciliation Software Jeffrey Arsenault for Old Greenwich Capital Partners

If you want to add personal links, please do that on your user page - you can also write your profile there. If you have a link with great content that persons using Finance Wikia need, you can add it at Funding Higher Education/Links

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