Delhi Public School Nursery fees was around Rs 90K per year and now in just 6 years it has doubled to Rs 1.7 Lakh. And the thing is it will continue to rise. And because of that inflation in school fees is the 2nd highest only after medical inflation. In my daughters school, every year the school is increasing the fees by 10%. If I talk about inflation in India, it is around 6%, so if your investment is not growing by 10% or more, you will not be able to pay the college fees going forward.
PC: Pixabay.com
And it is not about 1 or 2 schools, the basic school in Bangalore is charging 80K per year which doesn't have any reputation. So parents have to put their child in somewhat medium school and thus they have to pay more than a lakh in school fees and it will continue to rise every year by atleast 5 to 10%. And that's only the tuition fees, after that you have books, annual day fee, transport and hell lot of things which are extra.
And then there is a society pressure, where people brag that their child are going to the international school and other things. So even if you want to put your child in the medium school, your family members might not agree to it. So even though you want your child to go to a normal school and then you can save money and invest in their name, you can't. And thus you fell for this high fees drama every year.
And not only the fees, you also have to build your child for extra curriculum, so what you will do. The child will go to different classes and then you have to pay for it because in school they will just learn the basic and you want them to be pro in something outside of the studies too. And that's why raising child is such a costlier affair now-a-days because there is a lot of money flowing after them.