personal-finance
Challenges in funding children's education abroad
Oct 27, 05:10

Indian parents struggle to give children an education abroad. The way out is to start planning early, according to a recent study done by the Western Union, titled ‘Education Overseas–An Evolving Journey'. The findings highlight, among 807 parent respondents, 83% were looking to fund the studies through an education loan from banks or loans from friends and family. However, parents were also worried about repaying these loans in the current landscape because of the pandemic. According to the study, lack of budgeting and financial planning were the key barriers to studying abroad, and these emerged as deciding factors in the entire process.

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