Skip Navigation
0 of 0 Displaying
 |   Displaying

No Results

    CHILD EDUCATION

    How to Start Saving for Your Child’s Ivy-League Education

    Last Updated On 18-01-2016

    What you want is to see them grow up happily and achieve success. What you don’t want are unnecessary hurdles in their way. There is no question about it – as a parent you want the best for your child. Naturally, you would do everything in your ability to ensure their well-being and future stability. 

    One of the cornerstones for your child’s bright future is a good educational foundation. Over the last 200 years, Ivy-league schools have produced world leaders in the fields of business, politics, finance and research. An education at prestigious schools like Harvard or Yale can open up many doors, giving your child access to a well-connected alumni network and better job prospects. Who wouldn’t want these opportunities for their child?


    What is needed for an education at Ivy-League schools?
    However, it isn’t easy to enter Ivy-league schools due to their stringent selection process. Besides excellent grades, applicants need outstanding teacher recommendations and impressive extra-curricular records. 

    Unfortunately an Ivy-league education comes with a hefty price tag. According to a report by Michael Conrath and his team at JP Morgan Funds, college tuition fees and textbook costs will continue to inflate and are set to increase by more than 2.5 times by 2030. This fact might put an education at one of these schools out of reach for most in the near future.

    Why start saving now for a pricy education?
    Since an elite education is exorbitantly priced, you would need to save over a long period of time. Apart from good financial planning, it’s also important to start investing early into a child education plan. The sooner you start, the less money you will dedicate monthly to gather the required sum. 

    Not getting a head start for your child education plans may result in taking up loans or dipping into personal savings to meet the high costs. These approaches can have a negative effect on your household expenses and may disrupt your long-term financial planning and safety net. Hence, it’s vital for you to plan well in advance to manage your cash flow.

    How to get ahead of you financial goals?
    Nowadays most financial institutions offer a variety of investment plans that provide parents with long-term financial planning. A good child education plan will allow you to provide for your child’s higher education without compromising other financial goals. A financial planner will prevent you from choosing between funding your child’s education and saving for your retirement – a financial planner enables you to do both. 

    When choosing between different child education plans, pick one that provides higher returns and offers tax benefits, as these can be re-invested into your child’s education. As this type of investment requires you to pay periodically over a long period of time, it’s important to ensure that you are comfortable with the process. Before making a decision on investment plans, consult a trusted financial planner to get sound advice on the best education plan for your child and how to avoid unnecessary expenses. It’s also a good idea to review your child’s education plan annually to ensure satisfactory returns.

    Although the schools provide financial aid and scholarships, only a handful of candidates are lucky enough to get them. Don’t let the lack of funds become a stumbling block to your child’s education. By investing in the right education plan ahead of time, you can realise your child’s future dreams without having to put your personal financial goals aside.

    Disclaimer:

    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203

    EC215 LD/2019-20/226

    BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    CHILD EDUCATION

    If you’re thinking of your children’s future, think of child education plan

    Education is an investment and one should always plan investments carefully. It is never too late to start planning your child’s education, but in ...

    CHILD EDUCATION

    Money Management Mantras for Dads-to-be

    Becoming a father is one of the happiest moments in a man’s life.  Nothing in the world can replace it. Your priorities shift from when you be...

    CHILD EDUCATION

    Start now, to financially secure your child’s future

    As a parent, you worry endlessly about your child’s safety and wellbeing. “Is she doing alright?” “What will he grow up to be?” “Am I doing everyth...

    CHILD EDUCATION

    Secure your child’s future today

    Disclaimer: . The aforesaid article presents the view or an independent writer who is an expert ...

    CHILD EDUCATION

    Thinking of your child’s education plan? Read this first

    It is said that the cost of higher education in this country has the highest inflation rates. By 2025, the average cost of MBA degree will be aroun...

    Want to know more about how you can protect your family?

    See all your article

    Get a Callback

    OTP sent successfully

    Thank you for getting in touch with us. We will contact you shortly.

    Disclaimer: 
    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203
    EC215 LD/2019-20/226

    BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    Disclaimer

    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

    Site best viewed in following browsers
    Chrome 70+ , IE 11+, Firefox 76+, Safari 11+