One should not take Education loan beyond 7 & half lakhs. Education over the years come is more expensive & I think in the years to come it will become more expensive that’s why the saving towards the education of the child needs to start as soon as the child is born if not as soon as the child is born then may be in period of three years so that your investment ho-rise at least 15 years because then you likely to end up with corpus which will be enough to fund the child education.

The other important thing is invest regularly wherein every month you save money into your bank account etc. But the point is that you have to keep investing regularly.

Now where you draw the line, Even if your child is going to best possible institute, If he passes out without the job, You will have to repay the EMI that will come on because obviously you don’t want to be default on that.

Vivek Kaul
Financial Journalist, Author of the 'Easy Money' Trilogy