Higher education planning

Depends whether you would prefer to join him under management quota or under merit. Merit seats now a days are about Rs.1.0 lakhs p.a while paid seats are anything between 90-100 lakhs in A.P at least. In some other states they are about 8-10 lakhs p.a. So assuming that you may need about 200 lakhs in 2030 in 15 yrs you have to save @ 14 lakhs p.a + you may also have to plan for hostel & other expenses more  

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Though it may sound indifferent, you invest in land in 2places, which will appreciate and will come handy besides saving plan suggested earlier. more  
first study your child interests & observe him in studies. more  
Generally wise people advise to invest in real estate for taking care of future expenses on education and marriage etc.Wiser people advise to educate children so nicely that they stand up on their own legs in all matters of life.Wisest people advise and try to impart spiritual education along with worldly education to prepare their children full of human and moral values right from childhood.In my view we should follow the wisest path in the matters of life and living. more  
First of all calculate the rate of return on finishing this education. Spending lot of money on education and then expecting returns equivalent or more than this from a child will make the child depressed and not allow him to enjoy life. As suggested by Mr. C.S Narayana, see the aptitude of the child. Don't force. Natural talents i.e what the child loves will be the ultimate field in which she/he can excel. Rest all is force. Parents duty is to provide financial and emotional positive support to the child. Reading, learning, choosing the field of study is child's job. Yes, expert counselling or career guidance is important. These are the words of ex-career counsellor of Birla Institute of Technology and Science off-campus. CBA = Cost Benefit Analysis is more important. Do it properly in writing. Child is more important in the long run not the forced success. Life is for living and enjoying. Don't dream or live as per the advice of others. Let your child "BE WHAT HE WANTS TO BE" Child should have interest in his study. Many parents commit one mistake: They impose their will based on social view about the courses and the child becomes a prisoner of parents wishes. When the child does not come upto their expectations, they keep on nagging the child with taunts about how much they have spent upon his study. Nobody in the world can replace your child. You need him/her throughout life, especially in old days. Don't set GOALS for the child which may become unachievable and she/he has to opt for in-ethical , illegal ways to recover the cost of his education in the society. BE GOOD AND WISE PARENTS. Check all aspects of the decision from all angles. Parents pay money but money cannot make educated. Money is a medium. Learning is mind based job. In a parent teacher meeting, Sachin Tendulkar's school teacher showed the report card and told the mother he is not good at studies. Mother came home and talked to his elder brother. Both politely asked the little child: what do you like. Child in a sweet said: Cricket. Wise elders, immediately, brought bat and ball and started playing inside the little house's room. See Sachin's achievements in the world. So, ask the interest of the child. Don't go blindly. This is my suggestion. Thank you. more  
As suggested by Sri C.S.Narayanan, you should explore options to send your son abroad. In this way, he will have an option to do a degree in whatever field he likes. more  
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