Study Abroad: Want to pursue higher studies at a foreign varsity? Plan early to beat rupee depreciation, says expert | Education News,The Indian Express
Rupee fall Impact Study Abroad Plans: Investing early and factoring in dollar inflation as well as domestic inflation can be crucial when it comes to plans to send children abroad for higher studies, says investment advisor Nasser Salim.
From foreign investments to soft loans, Nasser Salim explains why it is important to plan early:
Deeksha Teri: What can students do if they are planning to go abroad for higher studies in the next two to five years?
Nasser: This is a very pertinent question. We have been in discussion with multiple clients that we manage and look after in terms of financial needs, and the most common question is how do we raise wealth? Most parents who have not planned end up selling a very important asset such as some ancestral property, jewellery, etc, or they look at loans and already burden themselves and their children.
Now, for international education, I believe it is not in the best interest of the clients and the students (to plan so late). If you do something that is unplanned, you end up with accidents, and this is the kind of accident we wish to avoid. That is what we advise investors and parents, especially in this case, because they have the ability to think through what they need to do. One big question to ask first and foremost is: have you planned for your children’s education and how soon is that plan going to be executed?
It is not for the child to decide, it is the parents’ savings and their ability to raise money for the child. Therefore, this question is more pertinent to parents, and especially young parents. When the children are 14-15 years of age, the time horizon is only three-four years for them to go for higher education. Post-graduation is still nine years away possibly, but graduation is just three years away at 15. So, the need to raise that question early is very important.
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