Planning for your children’s education is one of the most important goals you will have as a parent. Higher education can be an expensive prospect, so it is important to plan for it just as you would plan for your retirement or a house. Education planning involves designing an investment strategy that specifically addresses the educational needs of your family.
What Is the Meaning of Educational Planning?
Educational planning is the process of preparing for your / your kids post-secondary education. Effective educational planning enables you to make a smooth transition from high school to college or further technical education. A good educational plan will provide you and your family with a map of your future education and career goals.
When to Begin
Parents and students may begin planning for college and technical training as early as they would like to, but starting as early as middle school is not too soon. As soon as you have a good idea of what you hope to accomplish with your college education, you should begin to plan which courses in middle school and high school you will need to take to prepare yourself for college. Many students miss important educational opportunities because they delay making important educational decisions.
The Right School
One of the most important decisions you will make in this process is deciding which college or technical school you will attend to prepare yourself for a career. You must decide which school will provide the best training for the profession you have chosen. Other important issues are whether the school you are interested in is accredited by a recognized accrediting agency and if the school will be a good fit for your personal interests and talents.
A college education requires significant financial expenditure each year you are in school. If you wait until registration day to think about how your are going to pay for your / your kids education, you will find yourself facing a serious financial problem. The high cost of a college education makes effective educational planning imperative. Potential students must consider the cost of tuition, books, housing, lab fees and vehicle expenses and fees over the entire period they plan to be in school.
Parents should start considering investing small amounts by way of SIP as early as possible to create a Pool of Funds for Higher Education of their kids. Please glance through a simple illustration to get the perspective….