Education Planning

What is Education?

 

Education is a process which an individual's mind and character are developed through formal teaching and instruction at a school, college, institution or university. It can also be defined as a process of an individual acquiring knowledge, skills and values.

 

Education Planning

 

Education Planning is a process which parents make their efforts to prepare their children for future education. In financial context, it means preparing future education fund for their children. Education fund is a sum of money set aside for a person to undergo his mind and character development through a formal teaching and instruction at school, college or university.

 

Why Education Planning?

  • As parents, our obligations are not limited to giving our children the basic physiology needs. It is always our responsibilities to make sure our children are developed to be a better person and can stand on their own feet. The best way is usually to prepare them to be highly educated.

  • If we think by giving fortunes to our children enables them to be more competitive, we may be wrong. Teaching him to fish is always far better than providing him with fish. Education is the best gift of all time for our children.

  • There are many sources which could fund our children's education, namely scholarship, study grant etc. But they may be not available when we need them.

  • It always better to avoid last minute rush for education fund. To prepare an education fund in 18 or 20 years ahead is always easier than starting it in the period of 2-3 years.

Areas to Consider

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