EduFund, a higher education-focused investment advisory app, has partnered with leading asset manager DSP Investment Managers to provide parents with customized investment solutions to help them save for their child’s higher education objectives.
EduFund encompasses a child’s higher education journey from rupee and dollar savings to education counseling, allowing parents to better plan for their child’s educational ambitions. The technology-based software is backed by research and statistics, and it provides individualized investing possibilities based on a child’s aspirations and the risk profiles of a child’s parents.
By 2024, more than 2 million Indian students will be studying overseas, according to RedSeer’s industry forecast. This collaboration will provide parents with extra alternatives, making the EduFund app a one-stop platform for everything Ed-Fin-Tech.
Student loan debt in India is rising as more students study abroad and pursue better education options. This figure was shockingly high last year, at INR 84,965 crore. As a result, having a reputable investment manager like DSP collaborate with a targeted start-up like EduFund emphasizes the need to plan for higher education ambitions as early as possible.
Vineet Malhotra, Head – eBusiness, DSP Investment Managers, said, “We have always advocated starting investments early and in a systematic manner to meet one’s goals and prepare for life events. We are pleased to work with EduFund which shares the ethos and has designed a comprehensive platform to help parents plan systematically for this vital goal. We look forward to working with EduFund to help millions of Indians #InvestForGood.”
Parents can start monthly SIPs by investing in mutual funds that allow access to both Indian and worldwide enterprises using EduFund’s simple interface. This can help parents save for their child’s education while also keeping track of their progress in one place.
EduFund also connects parents and students with experienced counselors worldwide for guidance on institutions, courses, and other important aspects of their educational journey.
Eela Dubey, a co-founder of EduFund, said, “With rising tuition costs, immense competition and inflation, we anticipate that only one in ten children will be able to afford graduate degrees and more. By partnering with a credible and trusted player in the investment space, DSP Investment Managers, we hope to change this statistic and help more parents become financially literate by changing their view towards saving early. What is encouraging is that we are already starting to see early signs of this, with over 2,000 parents realizing the daunting reality of planning early for their child’s higher education.”