Amid the rising inflation across all sectors in , a social media influencer brought attention to the education inflation. Addressing the topic to parents and those who are planning to grow their family, the user claimed that at least ₹6.75 crore is needed to raise a child in Indian metro cities, as school inflation is said to be at 10-12%.
School inflation in India
Self-claimed financial adviser Udayan Adhye explained that inflation in education and lifestyle expenses has significantly contributed to the cost of raising a child in urban India. He argued that while many parents turn to traditional child plans to safeguard the future of their little ones, more advanced planning is required now to beat the rising education expenses in the country.
“You need 6.75 crores to raise a child in a metro city in India, and if you don’t believe it, let me break down the exact math,” he said before a detailed explanation.
How much money do you need to raise a child in metro cities?
He continued and talked about how school fees are going up at a rate of 10 to 12 per cent annually, doubling costs every six years. Going by the same calculation, he explained how a college degree worth ₹20 lakh today could cost someone ₹1.6 to 2 crore by the age of 18.
“What’s worse is that no one is telling parents this because many financial planners are busy selling you a child plan that gives you 5-6% returns while School fees are inflating at 10-12%. So if a 4-year college program costs 20 lakhs today, by the time your newborn child turns 18, that same degree costs 1.6 to 2 crores.”
He warned that the massive amount doesn’t even include school fees, which can go up to 10 lakh. Extracurricular activities such as school education, sports, music lessons, coaching classes, vacations, gadgets, healthcare, lifestyle spending, nanny and more can also add up to the calculation before a child turns 21.
“And this is before adding school fees of anywhere between 2 and 10 lakhs a year, before sports, music, , vacations, gadgets, a nanny in the early years, before health and lifestyle costs that run for 21 straight years,” he said.
Adhye also mentioned that his estimate may vary across families depending on their lifestyle and educational choices. He added that the calculation changes after graduation, as postgraduate studies are often funded through education loans or paid for by the child later in life.
“Everyone who has a child or is planning for one has to do this calculation,” he maintained.
He further added to the caption, “Raising a child in an Indian metro is no longer just an emotional decision. It is a serious financial goal. School, college, coaching, lifestyle, healthcare, gadgets, vacations; the numbers quietly compound for 21 years. And no, a basic child plan won’t cut it.”
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Netizens react
His video has gained a lot of attention among netizens.
Reacting to it, a user wrote in the comments, “Don’t agree with you totally.”
“No child required,” joked another.
One more commented, “Exactly! People should be made aware.”