Loans for education funds are an alternative way to prepare for a child's future. So, for those of you who are planning to get married soon or already have children, there is nothing wrong with planning for the future of your children as early as possible.
According to the Education Partners (MRE) Financial Planner, Andy Nugroho, ideally, children's education funds should be prepared from the time the child is born. In fact, parents begin to repay the necessary funds up to the highest level of education.
In planning education funds, one of the factors that must be considered is inflation, which is around 10-20%. In other words, it is estimated that the cost of education will increase by around 10% to 20% every year.
Then, what are the things that must be considered in preparing a child's education fund? Check out the tips below!
1. Tips for Preparing Children's Education Funds
As parents, of course, we always want the best for our children. Anything will be done to make them happy, especially in the realm of education where this is one of the factors for their future success.
Realizing success is not impossible. However, there are several steps that must be pursued and accompanied by strong determination and an unyielding spirit. Here are some things you can do to prepare your child's education fund.
1.1. Estimate Educational Targets and Other Needs
The first step that must be taken is to find out the amount of education funds needed based on the level of education starting from kindergarten, elementary, junior high, high school, and college (both at home and abroad) because of course each level of school requires different costs. In addition, the college major, as well as the type of school you are going to (public or private) will also affect the amount of the education loan you will need later.
1.2. Determine the Type of Savings and Investments
Instead, separate the savings for children's education costs from your personal savings. Usually, the type of instrument used to collect education costs is education savings or time deposits, because the benefits or returns you get are quite large. Also make sure you consider administrative, management, and other costs.
Apart from relying on savings, of course, investment instruments also affect the number of education costs collected. For example mutual funds, gold, or property. In addition, if the available funds are deemed insufficient, you can also apply for an education loan.
1.3. Menyusun Tujuan dan Konsisten
To create a bright and orderly future for your child, of course, you have to set clear goals so that you have a direction for where to go. One way is to set targets.
With targets, you can set priorities on what to do and prioritize, and ignore things that are less important and don't contribute to your child's education planning. After compiling everything, you must commit to always being consistent in carrying out all the plans that have been made. Never giving up and learning from failure is important to reaching your ultimate goal.
1.4. Set aside Income
Getting used to saving and planning finances well is one of the secrets to achieving goals easily. It is recommended that you set aside 25% of your income per year and arrange that your debt ratio does not exceed 30% of your income. This is so that your financial cash flow is not messy, and you have a reserve of funds that can be used in emergencies or business needs.
1.5. Learn About Education Aid
Apart from setting aside money and obtaining an education loan, you can also consider looking for educational assistance in your area. This educational assistance can be in the form of scholarships, financial assistance, or other educational financing programs.
1.6. Prepare Unexpected Costs and Others
In addition to the five things previously mentioned, it's a good idea to also prepare for unexpected costs and other additional costs for your child's education. For example extracurricular costs, transportation, boarding, and others.
Sometimes, even though you have calculated the estimated costs required, the funds that must be spent for unexpected costs may be beyond your calculations. Prepare alternatives to get additional funds. For example, through an education fund loan guaranteed by a vehicle BPKB or a house certificate to ensure that education targets can be achieved without hindrance.
2. Education Fund Loans at BFI Finance
Getting a higher education is certainly the dream of most people. However, the insufficient cost factor often hinders someone from getting an education. Fortunately, nowadays there are many alternatives that can be taken to continue their education. One of them is an education fund loan service that can be used for your child's educational needs.
What are the benefits that you can get through trusted loan funds? Check out the full infographic below!
Image Source: BFI Finance Team
So, those are the various advantages that you can get through a Children's education fund loan. Make your dreams come true with BFI Finance!
Sobat BFI, which was a series of important information about loans for children's education funds. Even though preparing an education fund is not something easy, with careful planning, it doesn't mean it's impossible to do.
You can get complete information regarding fast loan funds at the following link.
BFI Finance is a company that provides multi-purpose loans with guarantees for motorbike bpkb, car bpkb, and house or shophouse certificates
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