Parents wary of rising cost of kids’ education: Survey

February 18th, 2011 - 9:27 pm ICT by IANS  

New Delhi, Feb 18 (IANS) A majority of parents in the country are concerned about the rising cost of their children’s education, even more than their health, lifestyle or marriage, a survey released here said Friday. The report “Aviva Education Insights”, by research company IMRB International reflected the concerns and aspirations of young parents for their children’s education.

“About 81 percent of parents are concerned about their child’s education and 30 percent of these mention that they are more concerned over the expenses incurred on the child’s education than the quality, admission, performance or marks,” the survey found.

One of the key concerns of parents was the rising expense on children’s education with 39 percent parents concerned about the cost of their education in the future.

“The survey highlights that the rising cost of education has become a major cause of worry for parents, and they now want additional funds for their child not only for higher education but during the schooling years as well,” said T.R. Ramachandran, CEO and MD, Aviva Life Insurance.

The survey also highlighted the fact that 51 percent parents believed that insurance was the most effective tool to cushion the child’s education cost.

The survey was conducted in 11 cities across the nation with a sample size of 2,402 parents.

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