As we enter the New Year, we are so concerned about March, the month of tax payments, income statements and so on. Aren’t we missing something here? Well isn’t it our child’s New Year too? He or she is also coming close to the end of yet another of education at school. They start a fresh year after their New Year break, all ready to start freshly in the month of January. Little are they worried about their future aren’t they!
We do our best we can for them, but the point here is that are we doing enough for them. Our children have their aspirations, they have their dreams. If we as parents don’t help them who will?
When they finish their school and are applying for admission to junior colleges, it is at that time that we try to help them in making a choice. Many of us want them to be doctors or engineers and tell them to choose the science stream; but have we ever wondered that what they want.
If they want to be successful managers, we should encourage them to pursue their dreams. The M.B.A’s, the Master’s and what not. These big degrees come with heavy costs don’t they. Even Medicine and engineering degrees come with a price tag.
At one point we want them to be in the best of Colleges and at the same time we are worried about their education fees; but then we are in a spot of bother as to how do we provide them the best colleges , but in our budget.
Also we as parents understand the value of education, because during our times “Education” was a privilege. Today when we look at our children, we feel so satisfied that we are providing them “Education”. However with the coming of years “Education” has become expensive.
The best possible solution is to “Save money now for a better future for our children”. Investing in Education is the need to the hour. “Today’s children are tomorrow’s future”. Education has become so expensive, that whatever we save today may not even be enough for tomorrow. Higher the education more is the cost. Therefore it is important that we start saving today. Education policies not only give you insurance but they also give you a good rate of interest for a better future.

Education is Insurance, but are we doing enough to ensure that our children get the best of education available out there. Universities are charging exhorbitant amounts and its growing every year.  The university fees range from a whooping Rs. 23 lakhs to Rs. 30 lakhs per year. Are you ready to shell out that kind of money? If you are wondering which institutions of higher education will take the most of your buck?  Here are ten schools certain to charge a premium for a four-year degree. (All 2009-2010 price tags include tuition, room and board, and fees).

10. Vassar College
Price Tag: $51,300.
The now coed former Seven Sisters school offers 50 baccalaureate majors in liberal arts fields from English to biology and self instruction in foreign languages from Hindi to Yiddish. Graduating Vassar seniors applying to schools of medicine and law boast acceptance rates of 85 and 88 percent.

9. Washington University in St. Louis
Price Tag: $51,329
WUSTL’s cost brings the choice of 40 majors in the arts and sciences, in addition to business, fine arts, and engineering. Price doesn’t come without prestige: the 9th most expensive school in the States is also the 11th most selective for incoming undergraduates.

8. Trinity College
Price Tag: $51,400.
Hartford, Connecticut’s small liberal arts school explains that its “purpose is to foster critical thinking, free the mind of parochialism and prejudice, and prepare students to lead examined lives that are personally satisfying, civically responsible, and socially useful.”

7. Wesleyan University
Price Tag: $51,432
The second Connecticut school on our list has just under 2,800 students who each pay $51,432 to study one of the school’s 47 academic majors in the arts and sciences. Gifted science students wishing to pursue a master’s degree are in luck: Wesleyan waives fifth year tuition for students in its combined BA/MA program.

6. Columbia University
Price Tag: $51,544
The only Ivy also boasting top ten tuition and fees, New York City’s Columbia University offers students the 8th best undergraduate program in the country.

5. Johns Hopkins University
Price Tag: $51,690.
13th best in the nation, Hopkins offers over 60 majors in the arts and sciences, engineering, and education.

4. George Washington University
Price Tag: $51,775
Washington’s largest university, George Washington offers 87 major programs including international affairs, political science, and journalism. The price tag is steep but comes with a small grace: tuition remains at the freshman rate for up to 10 full-time semesters.

3. New York University
Price Tag: $51,993.
Our 3rd most expensive school boasts 11 undergraduate programs, from nursing, to liberal studies, to the renowned Tisch School of the Arts.

2. Georgetown University
Price Tag: $52,161
The nation’s second most expensive institution is also its oldest of Catholic origin. Georgetown boasts notable alumni William Clinton and Antonin Scalia, and a Big East leading seven men’s basketball titles.

1. Sarah Lawrence College
Price Tag: $55,788.
Sarah Lawrence takes the most expensive crown for another year, topping our list with a total bill of $55,788. The nation’s highest price tag buys an undergraduate program without traditional majors: Sarah Lawrence students individualize programs to suit their interests. Individual faculty tutorials augment seminars, and grades are supplemented with detailed written evaluations by faculty. Whether you’re considering an in-state bargain, or one of the premium-priced schools above, explore ways to lessen the burden

If you are wondering how much these colleges might cost in the future you can use our Aviva Educost Tool. It will help you predict the future cost of education for your child.

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Change is the only constant, and it’s even more evident when it comes to inflation. It is quite evident that rising costs are here to stay, especially when it comes to education. Today, the cost of sending your child to kindergarten is already high; imagine how much it would become 10 years from now.

As caring parents, providing the best for your child is priority, but rising costs often make you think twice. However such decisions should never be influenced by the lack of money, which is why you should start thinking today.

What cost Rs.5 lakhs today will cost you Rs.15 lakhs tomorrow! Will you be prepared to shell out that sort of money or will you choose to compromise on your child’s education? But as a caring parent wouldn’t you want to provide your child with the best possible education.

The best way to avoid such a situation is to start preparing from today itself!

To prepare yourself you should:

Step 1 – Decide the corpus you wish to provide for your child’s future and the time when the same should be made available. While doing so you should consider various career specializations available. Also remember, that all professional courses will cost more tomorrow than today.

Step 2 – Select an investment amount that you will be comfortable paying monthly. After all you mustn’t forgo the present for the future.

Step 3 – Choose the level of protection you desire. This should be reflected in -

a) the level of sum to be assured chosen by you;
b) the riders you opt for with the base plan.

Some of the riders available under various child plans are:

Comprehensive Health Benefit (CHB) rider – provides complete protection against critical illness and disability, by paying benefits otherwise payable on death.
Income Benefit (IB) rider – pays income to your child in case of your death.
Accident Death Benefit (ADB) rider – pays additional money in case of your accidental death.
Dread Disease Rider (DDR) rider – Gives an additional benefit upon diagnosis of 10 critical diseases like – Heart Attack, Cancer, Stroke, CABG etc.

Your child’s future education and success depends on how well you plan today. Be prepared and everything will fall into place. One such device that can help you get started is the Aviva Educost (education cost calculator) that enables you to calculate the cost of future education and also helps you identify how much you would need to invest today to achieve that corpus.

Imagine this, on a fine morning Mr. X is seen sitting by the porch lost in deep thought. His neighbour Mr. B, who is unaware of his plight, comes over to share the good news of his son being accepted at a foreign university.

“Hey X, my son got through the university he had been trying for!” said B. But Mr. X barely looks up. Mr. B tries again but in vain. Finally he walks up to Mr. X and looks at his downcast eyes. They are full of sorrow.

“What is wrong? Tell me friend? Can I help?” asked Mr. B.

“No my friend B, my life is wasted! No one can help me now…” explained a morose Mr. X.

“It can’t be so bad! Tell me what is it? Maybe I can help?” said B.

But poor Mr. X couldn’t say any more. So what went wrong with him, you wonder? To begin with Mr. X never planned anything. He was a happy go lucky guy who took everything in his stride and lived life to the fullest each day. But life is uncertain as things change. What Mr. X did not anticipate were the rising costs of living. While enjoying his life he overlooked the money aspect and forgot that his bank balance would be nil some day if he saved nothing today. Worst of all, the cost of education during X’s time was nothing compared to the current era.

No one has to pay through the nose to get their children educated. Unfortunately for Mr. X, the cost of education kept on rising till the day he couldn’t afford it anymore. Sadly his children had to attend the local community college while his friend’s children made it to foreign universities.

Mr. X could not fathom that the cost of an MBA which was a couple of lacs few years ago, would be 40 lacs plus now!

Sad, right?

So where did Mr. X go wrong?

Can you tell us how Mr. X could have avoided the situation?

Every child has a dream. Every dream needs to be fulfilled.
But do you realize how many dreams are just never fulfilled due to problems of funds? Is that the same case for your child’s education?

When you look at your child what do you see? A compromised education or a satisfied career option?

Take the poll and let us know whether your child is really following the right path in whatever he/she wants to become?

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All parents dream that their child gets the best possible childhood and a safe and secure future. Yet sometimes due to sheer negligence or laziness, parents are unable to offer their children a well laid out financial platform to pursue career ambitions.

Delayed planning, insurance experts have point out, has been one of the key reasons contributing to this. With the future cost of education going up significantly in recent years, the importance of having a perfect financial plan to secure your child’s future has become essential.

However now you need not worry as we will help you make an informed choice in a market flooded with child plans.

Click here to find out how

You will watch your child grow from a newborn to a toddler then from preteen to a young adult. But at what point have you considered planning for their future? The days seem to pass by slowly but the years fly by so quickly.

As a parent I am sure you value the importance of a good education for your child. You also probably realize that when it comes to investing for your child’s future, there is no better time to start than now.

With the cost of higher education constantly rising, it has become difficult to calculate the amount you would require, after 18 years, to help your child become a successful professional.

A recent survey shows that Indians consider investing towards their children’s education a key priority. This shows that education is the best investment that you can make to secure your child’s future. But do you know how much to invest, or how much your child’s higher education will cost by the time she is ready to enroll for it?

Now you can, at the click of a button. Aviva has introduced a simple tool, called Aviva Educost, which helps you calculate the amount you would require to secure your child’s education. This free-to-use application comes with 20 career options and a comprehensive list of 145 institutes across the world to choose from. Factoring in the rate of inflation, hidden education costs like coaching fee and application charges, the Educost gives you a fairly accurate idea of the financial implication of your child’s higher education.

Now, with Aviva Educost, you can start preparing for the future your child deserves.

Education is the bridge between our children and their future prosperity. As a caring parent you would undoubtedly want to provide your child with the best education. Unfortunately the cost of quality education, particularly higher studies is on a rise.

This is precisely why it is essential that you plan ahead for your child’s future. Use the Aviva Educost to know exactly, how much would it cost to give your child the best education.

Click here to find out