Along with making a child a good human being, education is the most important investment – be it time, hard work or money – to enhance the employability of the child. So, one of the most important life goals of the parents is providing the best education to their children.
However, all the students don’t get admissions in government-run esteemed institutions for higher studies and need to look for admissions in expensive private institutions and even in top foreign universities across the world.
As studies in private and foreign institutions are expensive – especially in absence of scholarships – students need to evaluate the prospects carefully, before selecting a course.
“As parents, preparing and sending your child to study abroad is a big decision. Therefore it is crucial to start preparing for it early, don’t wait for the last minute to get things done. There are many things that one should keep in mind before enrolling children on an international course. While it all starts with how much money you have saved to support your child’s study abroad dreams, the journey doesn’t end there. Most middle-class families cannot afford a child’s higher education in a foreign land, or even if they do, they usually use their retirement savings. However, if parents start preparing timely, all these problems can be easily addressed,” said Prashant K Bhonsle, founder CEO and Founder of Kuhoo Fintech.
Bhonsle lists the following six points that every parent should keep in mind while preparing for a child’s higher education journey in a foreign land:
- Meet an education and finance expert or a counselor
- Choose the country, university and course wisely
- Search for scholarships or proper Student loans
- Get full details about the immigration policies
- Give preference to countries that have work permit policies for students
- Budget for currency fluctuations
“Apart from these six key points, parents must stay realistic about career opportunities in India and abroad. While selecting the university and course, evaluate your future career prospects clearly. International education is costly. If planned correctly, it can be gratifying. If not, it can have severe financial consequences,” said Bhonsle.