Education is a mandatory base in the life of every person. And suppose the decision on higher education can be made following the income and desires of the student. In that case, giving a secondary education to a child is the parent's responsibility.
However, in this case, too, there are various options for the child to access education regardless of family income. Undoubtedly, the quality of education will depend on which school you choose for your child. Those who want to learn can do so in public or private schools.
Education in Private Sector vs. Government Sector
The education in a private school will be of higher quality, but it will also be much more expensive than education in the public sector.
The cost of even kindergarten makes it easy to envisage private college tuition. On the other side, public colleges and universities offer substantially cheaper tuition costs, but the standard of instruction is unquestionably essential.
You'll discover that teachers don't show up to class because there is no accountability.
Therefore, it simply implies that parents who can afford it opt to send their children to private schools for their education; otherwise, they are forced to send them to the closest public school.
Cost of Education in India
Here are some illustrations. The first is the price of entering a kindergarten or primary school. You may have to pay between Rs. 1500 ($18,40) and Rs. 2000 ($24,53) monthly for your child to attend a private school.
Initial deposits are an additional cost that could total thousands of rupees.
Monthly tuition at a government school may be six to seven times less than at a private institution. For secondary and high school, see a second. Again, a child attending a private school can cost between Rs 3000 ($36,80) and Rs 4000 ($49,07) per month.
It could range from Rs. 1000 ($12,27) to Rs. 1500 ($18,40) in a government school. Higher education for colleges comes in third.
Numerous disciplines could be included, including medicine, engineering, dentistry, and business administration. For example, a semester-long engineering college course can cost between Rs. 50,000 ($613,31) and Rs. 70,000 ($858,64).
A medical degree can cost between 10,000 ($122,66) and 20,000,000 Rs ($245,325). A postgraduate course like an MBA may cost lakhs as well. Private institutions typically offer higher education. There aren't many government institutions like this with affordable prices.
Representative Example
In order not to be limited only by theory, let's see in practice how much it costs to raise a child, for example, in the 7th grade of a public secondary school.
- School uniform: summer/winter 1200–2000 rupees per year ($14,72 - $24,53).
- Textbooks: 3000-4000 rupees per year ($36,80 - $49,07).
- Office: 3000-5000 rupees per year ($36,80 - $61,33).
- Leisure after school: due to the large amount of homework for those who do not have time to do it on their own, they organize additional classes - 500-800 rupees per month ($6,13 - $9,81).
- Tuition at school costs 10,000 - 15,000 rupees per month ($122,66 - $183,99).
- School bus - 4800 rupees per month ($58,88).
Of course, if you send your child to a private school, this amount will increase many times over.
Bottom Line
Families must make lifestyle budget sacrifices due to rising higher education expenditures. Additionally, the likelihood of this burden increases in the absence of a wise investment that is not well-planned in advance. From this page, you can determine how much money to save after learning an approximate estimate of the cost of educating a child in India. Selecting secure investing strategies will also boost your savings too much higher levels. You can also consider using loans to help pay for your child's education.
Manohar Lal
Principal