It is a matter of great concern that the financial condition of students going for higher education in India is becoming more and more deplorable as the number of student passing IITJEE keeps on increasing. The fees structure is also increasing day by day. The students are finding it extremely difficult to bear the heavy financial burden. Student finance is one of the most important topic for students. It helps all students to understand how can they study with financial expense.

The main objective of the student finance is to help students in understanding their financial capacity, taking loans according to it and educating them about repayment process. The Student Finance was founded on May 20, 2021, by Hitesh Parmar. We focus on subjects in finance and attempt to make difficult topics about money easier to understand for our visitors. This website is dedicated to student finances. However, we also cover a variety of financial and money-related issues in order to assist other readers. Learn to grow, save, invest and manage your money at The student finance.

Attitude of student:

Due to depleting financial condition of the family, parents try their level best to impart education to their children. They want their children to be educated and enlightened as far as possible. However, due to lack of means it is becoming more and more difficult for the parents to bear educational expenses of their children. Therefore, students are required to find out ways themselves through which they can meet this financial burden. Taking cue from the affluent student community like the NRIs and foreign students, our student community should wake up and try to generate funds on their own.

reer choice:

Students are required to analyze properly the career prospects before taking up such a job which will not get them compensated. Doing jobs like tour guiding, hotel management etc., does not compensate them adequately. If they go in for jobs like software engineers in MNCs, they cannot rely on the company only. They need to do private tuitions also. Therefore parents should create awareness among their children to take up such careers which will financially compensate them in future.

• With the rising fees structure, studying in private institutions is becoming extremely difficult and unaffordable for most of the students, especially those belonging to the economically weaker sections. The Parliament is deliberating upon opening up of more and more private institutions for higher education. The state governments are also opening new medical colleges to impart quality education at subsidized rates. If this trend continues, it will further erode merit in admissions leading to sub-standard medical/engineering graduates. The Parliament should try to find out ways and means through which admissions can be made more transparent, equitable and merit based.

University students usually face financial difficulties.

They have to pay high tuition fees, buy books and carry out miscellaneous expenditure. To meet the expenses they often borrow money from friends or through bank loans which leads to increased debt burden.

Since, most of the students are still dependent on their parents for financial assistance, there is room for them to manage their expenses in a better way. They can save money through following simple steps of budgeting, understanding bank loans and avoiding unnecessary expenditure. The only solution is to reduce the amount of expenditure. Try out these seven easy steps and save money as a student in India:

1. Carry Out Easy Budgeting . Students are able to make the best out of their income by planning out how they will use the available resources. For example, they can plan for weekly groceries rather than buying everything at one go which can lead to wastage. They should also know the different categories of expenditure they incur on and plan accordingly. This method of budgeting will help them save around 400-500 INR daily.
2. Limit The Use Of ATM Card . It is advisable to withdraw cash only when required and avoid using an ATM card excessively as the money will be deducted in the form of service charges. They can use digital transactions or internet banking to withdraw money for their day-to-day needs.
3. Avoid Using Credit Cards . Since, credit cards have a higher rate of interest compared to debit cards, it is best to avoid them until you are absolutely sure that you won't be unable to repay the amount due on time.
4. Avoid Taking Loans . Taking high-interest loans may lead to pressure of repayment. This can make it difficult for students to manage other expenses. So, rather than taking a loan, they should work part-time and save money in the form of bank deposits which will help them repay loans with ease.
5. Make Savings Regularly . Students are often tempted to spend their savings prematurely due to little temptation of buying things on sale. They can avoid this by making savings regularly every month using the money they save after budgeting so that it may help them meet any unforeseen expenditure.
6. Manage Expenses of Their Family . Students are often tempted to spend on their family, so whenever possible they should manage expenses on their own rather than helping out with each and every expense.
7. Don't Delay Financing . Financing is important for completing their education. They should do it in time instead of delaying.
8. Avoid Going For Credit . Students often go for loans to buy appliances and electronic goods which they can actually do without. This habit brings down the credit score and they may not be able to take a loan for future expenses.
9. Avoid Unnecessary Expenditure . Students should avoid buying clothes, shoes and other personal items of luxury on credit. Instead they can buy them through digital transactions or when they get their next month's allowance/salary.