How to invest wisely for higher education of your children

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Requiring funds for higher education especially for professional courses has never been easy.In the recent economic scenario ,courses like management,medicine,engineering and law need lakhs of rupees.Prior to economic slowdown the educational loans was one of the main option for  generating funds but now as the hopes of getting good placements are bleak the repayment of the education loan is not the best option anymore.Most experts believe that students and parents need to plan in advance.While educational loans wouldnot be denied to the students but delays and changes in loan schemes need back-up financial plan.According to  people from financial institutions,investment in education is for lifetime.More and more people are becoming aware of the need to plan finances towards this end.Financial planning is the best option for funding education and loans should be the last option.If there is a gap between the required amount and what you planned in advance ,you can fill the gap with loan of small amount.Investment in a systematic investment plan is another option for parents.Parents should start planning finances for higher education from school itself.It helps when funds are required at a later stage.Another option is that students can invest in their education.They can plan their funds four to five years in advance ,work for a while and take up professional course later. They should realise that if they invest judiciously now then they can reap the benefits in the long run.

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