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Parents always knew raising a child in India – with its broken model of education – is expensive, and turning more so. Actual numbers support this belief. As per ET Online research, the overall expenditure of schooling a child in India in a private school from age 3 to age 17 is a whopping Rs 30 lakh.
As per economists, the cost of rising private education has not been fully captured in inflation data as it is weighted at just 4.5% in the consumer prices index based on a decade-old model. EduFund says education costs have climbed by around 10-12% in India between 2012-20. Not only the tuition fee but transportation fees and examination fees are also hiked periodically which affects parents’ overall budget
Elite higher education within India is steep as well. Enrolling in a top-rated engineering college, like one of the twenty-three IITs or any other private institution, for a 4-year BTech or a 3-year BSc, costs around Rs 4-20 lakh. Expenses for coaching for entrance exams like JEE, JEE (Main) and other exams range from Rs 30,000 to Rs 5 lakh. A top-rated management institution like one of the twenty IIMs, or any other private university in the country, costs Rs 8 lakh-Rs 23 lakh. Coaching for qualifying tests like CAT or GMAT has extra cost
https://economictimes.indiatimes.co...lakh-college-a-crore/articleshow/93607066.cms
As per economists, the cost of rising private education has not been fully captured in inflation data as it is weighted at just 4.5% in the consumer prices index based on a decade-old model. EduFund says education costs have climbed by around 10-12% in India between 2012-20. Not only the tuition fee but transportation fees and examination fees are also hiked periodically which affects parents’ overall budget
Elite higher education within India is steep as well. Enrolling in a top-rated engineering college, like one of the twenty-three IITs or any other private institution, for a 4-year BTech or a 3-year BSc, costs around Rs 4-20 lakh. Expenses for coaching for entrance exams like JEE, JEE (Main) and other exams range from Rs 30,000 to Rs 5 lakh. A top-rated management institution like one of the twenty IIMs, or any other private university in the country, costs Rs 8 lakh-Rs 23 lakh. Coaching for qualifying tests like CAT or GMAT has extra cost
https://economictimes.indiatimes.co...lakh-college-a-crore/articleshow/93607066.cms