Higher Education Planning
I want to know how much I should save for my son's higher education? He is 3.5 years old and I want to plan for him to be able to study medicine.
What is today's average cost to do medicine?
How much will it cost for my son to do medicine in 2030?
I want to assume full cost, not any scholarships etc.
I am running a School in Tamil Nadu the Fee Fixation Committee allows 15% increase in fee every year and you can take this as a guidance for Medical Colleges also, but the entry level payment that is capitation fee varies from State to State and your son is only 3.5 years old and if you plan his personality and education he can get Free seat and it will be the best for you to plan and it is up to you to take call on this issue. It is good to know you are planning for your sons education and I would only say that the expenses all depends on the way he is brought for free seat. In another fifteen years many thing may change so keep watching the developments and fine tune your plan. Good luck more
I fully agree with you Mr. Vinay , being parent it is our moral obligation to make our children's future not negotiable and have to be mentally and financially sound to tackle the situation. With Regards more
Thank you all for your responses. Just to clarify, I am not going to force my son to study Medicine :) I want to assume Medicine so that, it will cover all other professional education courses. At the end of it, what ever is his capability he will do it and what ever God has in store for him, it will happen. This is just my effort to be ready, to support him if he needs my help. more
A very hypothetical. Question , difficult to understand whether it is investment planning or child development more
Chandra Mohan Sir, if your pension is Rs22K, being Sr.ctzn, you will not be taxed for this income alone. more