With the cost of higher education rising much faster than regular inflation, parents need to start planning early if they want to avoid burdening their children with education loans. According to Deepak Shenoy, Founder and CEO of Capitalmind, a bachelor's degree that costs around Rs 10 lakh a year today could cost more than Rs 40 lakh a year in 18 years, assuming education inflation of 8% annually.
In a detailed post on X, Shenoy explained that while the numbers may initially appear overwhelming, disciplined investing and the power of compounding can make even a large education corpus achievable.
Shenoy noted that Indian parents often consider a college degree essential for their children, especially since many companies continue to use it as a hiring criterion during the early stages of a career. However, obtaining that degree is becoming increasingly expensive.
He posted on social media platform X that, “We want our kids to have a degree. Sure, AI is changing everything. But get a degree, we say. It's not just a crutch; a lot of companies hire based on a degree, at least at the initial career stages.”
