Despite the fact that inflation has almost reached zero, a significant expenditure for the typical Indian household is increasing quickly. Higher education is already quite expensive and continuing to rise at a rate of 10–12% annually. One of the largest financial commitments that families must make is for their children’s education.

Currently, a four-year engineering programme costs about Rs 6 lakh. The cost is probably going to reach Rs 12 lakh in six years. An engineering degree would cost Rs 24 lakh by 2027.

The expense of educating children has been impacted by lifestyle inflation as well. The choice of where to send your children for higher education changes as your quality of living grows. Children who have experienced higher prosperity are less likely to enrol in government universities with unsatisfactory facilities. The main concern for Indian parents, though, is whether they will be able to pay for their kids’ further education. If they prepare ahead of time and go carefully, they can.