Parents urged to create education funds for rising costs

In 2016, IITs increased their fees from ₹90,000 to ₹2 lakh per year, reflecting a significant rise in education costs, which are now increasing by 10% annually. Parents are encouraged to create an education fund to meet these rising expenses. Expert Tushar Bopche outlines an 8-step plan for parents to secure their child's educational future. Key steps include assessing the time until college, estimating future costs, and evaluating current financial situations to set specific goals. Parents should diversify their investments and regularly review their plans to adapt to changing circumstances. If immediate funds are needed, education loans are available with favorable terms to help families manage costs.