How to save for your child’s education

The high demand for private education, paired with the limited supply of quality schools, has driven costs up. Schools have increased fees to offer better facilities and services. Besides, education costs now include other expenses, such as private coaching, lodging, sports, music, books, and travel. These expenses can add up to Rs.16-30 lakh during a child’s schooling, depending on the choices one makes. Parents should adopt a three-pronged approach to deal with the rising cost of education, says Eela Dubey.