EduFund, India’s first investment advisory app that focuses purely on higher education joined hands with premier asset manager DSP Investment Managers to provide customised investment solutions to help parents invest for their child’s higher education goals. EduFund covers a child’s higher education journey from savings (rupee and dollar) to education counselling to help parents better plan for their child’s education goals. The tech-based app is backed by research and data, and it offers personalized investment options based on a child’s goals and parent’s risk profiles.
According to RedSeer’s industry prediction, more than 2 million Indian students will be studying abroad by 2024. This partnership will give parents more options to choose from, making the EduFund app a one-stop platform for everything Ed-Fin-Tech.
With more students studying abroad and pursuing higher education opportunities, the student loan debt in India is also rising. Just last year, this amount was at a shocking INR 84,965 crore. Therefore, having a trusted investment manager like DSP partner with a focused start-up like EduFund underlines the importance of planning early for higher education goals.
With EduFund’s easy-to-use interface, parents can start monthly SIPs by investing in mutual funds that give access to Indian companies as well as international giants. This can help build their child’s education fund as well as track their progress, all in one place. EduFund also connects parents and students with expert counsellors from across the globe for advice on universities, courses, and other essential details that tie into one’s education journey.
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.”
Eela Dubey, 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.”