Studying abroad is a dream come true for many students but one has to pay the admission fee, tuition fees, buy tickets for travel, arrange accommodation, etc., for studying in a foreign university. Arranging funds becomes a challenge in the absence of funds for the students belonging to a mediocre background.
The fluctuation in currency rate and high rate of inflation in the education sector has made it difficult to estimate the fund requirements. If parents plan early to provide for the higher education of their children in foreign universities, time would be sufficiently available to invest and accumulate funds.
One can accumulate the required funds by saving and investing smaller amounts when beginning in an early stage compared to accumulating the required fund over a shorter period. The more chance one gets to meet their desired goals if they plan earlier and last-minute tensions may pose a risk factor.
Factors like the tentative idea of the fee keeping in account inflation, the amount one is willing to save every month, the number of years left to achieve the goal and the instrument to save in will decide the investment planning. One can suitably save and achieve their goal with these factors through these mechanisms.