Indians have always headed to American universities.
Looking to send your children for higher studies abroad, particularly the US? If the higher cost of education is holding you back, you need not worry. Education in the US is costly but if smartly done, is possible.
Indians have always headed to American universities. Nearly 20 per cent of foreign students studying in America are from India. For a 4-year engineering course in the US, one has to shell out anything above $50,000 a year or Rs 37.5 lakh per annum. This adds up to Rs 1.5 crore over the entire duration.
This is just the tuition fees. There are other costs as well when you send your kids abroad. From travel costs, staying to food expenses over the entire duration of the course. You need dollars to fund them. A big risk for financing education abroad is the currency risk. Plus, you want to generate the resources needed by taking advantage of the best investment opportunities the world has to offer. By investing in US markets through Stockal, you invest in dollars, generate dollar returns, enjoy dollar dividends and also get access to the best wealth generating stocks on the planet. How about a US markets SIP then?
If the rupee falls against the dollar, the cost of foreign education is impacted. In 2011, a dollar was about Rs 45. If it’s Rs 76 today, it’s a 68 per cent fall! From here, if the rupee falls further, on a four-year course you will need more dollars to fund that education. It’s time to plan now and start early if you have to send the kids abroad. You can even open a savings bank account abroad to park dividends and meet those costs and contain currency risk also.