How to fund child’s education: Take a loan or use own funds?

Keeping your accumulated savings invested and taking an education loan instead can benefit you. Photo: Alamy

Keeping your accumulated savings invested and taking an education loan instead can benefit you. Photo: Alamy

Any big-ticket spending requires you to either have the required funds in place or a financing option. When dealing with long-term financial goals, such as higher education of children, you have the advantage of planning much in advance. Here’s how you can go about the planning.

Start early

A lot of parents have an inclination to send their children abroad for higher education, at least at the post-graduate level, said Suresh Sadagopan, a certified financial planner and founder of Ladder 7 Financial Advisories. “In that case, the planning needs to start really early. They would need a horizon of at least 10-15 years. When we talk of international education at post-graduate level today, most likely it is not going to happen below ₹40 lakh,” he said.

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How do you work towards saving that amount? Prakash Praharaj, founder, Max Secure Financial Planners, said that the future cost of a particular course needs to be calculated taking into account at least 10% annual inflation. “Then calculate the current assets and investments accumulated for these goals. Then the remaining gap for the aimed amount is to be filled through monthly SIPs over the years,” he said.

Starting an SIP of ₹5,000-7,000 in an equity fund for 15 years and increasing it by 10-20% each year could help. However, Sadagopan said, given the fact that there are so many ongoing expenses these days, including other loans, it becomes difficult for parents to put aside a huge amount for the child’s post-graduation alone.

Consider taking loan

Even if you have been working on creating a higher education corpus, you need to consider taking an education loan. At present, the total expenses for higher education abroad could be in the range of ₹1 crore per child, Sadagopan said.

“A realistic thing that parents need to realise is that the child’s higher education is not their only goal. Retirement is also an important goal and they need to be aware of the fact that you can get a loan for all other requirements but not for retirement,” he said.

Own funds versus loan

But if someone has already accumulated the required amount, why should another repayment burden be taken on? The answer lies in two things, Praharaj said. “A cost benefit analysis suggests that taking an education loan and keeping the accumulated amount invested works in your favour. Moreover, it also helps in developing a sense of responsibility in the student. The realisation that a repayment has to be done by them keeps them focussed,” he said.

The math of keeping your accumulated savings invested and taking an education loan instead suggests that taking a loan results in significant benefits. For instance, if ₹1 crore is kept invested and an education loan for the same amount is taken, at the end of nine years, including the repayment holiday on the education loan, the net benefit could be around ₹87 lakh (see graph).

This includes the tax saved on repayment of loan. Borrowers of education loans can claim deduction on the interest paid, though not on the principal amount. Also, unlike in home loans, there is no limit to the amount that can be claimed as deduction.

Sadagopan said it is better that the parents keep the money with themselves and let the child take the loan. “In future if the child is struggling to find a job and pay back, you can step in to help at that point,” he said.

[“Source-livemint”]

Moto G6, Moto G6 Play, Moto G6 Plus to launch today: Here’s how to watch the live stream at 7PM IST

Moto-G6-leak

Lenovo-owned Motorola is all set to launch the Moto G6-series smartphones later today. The event is set to take place in Sao Paulo, Brazil, and it will kick off at 10:30AM (Brazil local time), which is 7:00PM in India. Motorola will also live stream the event on its Facebook Page here.

The Moto G6-series will include the Moto G6, the Moto G6 Play and the Moto G6 Plus variants. The Moto G6 Play is expected to be an entry-level variant with single camera at the back, whereas the Moto G6 and Moto G6 Plus are expected to feature dual cameras at the back. All three smartphones are expected to come with full-screen displays and 18:9 aspect ratio.

A home button with fingerprint sensor embedded inside it is also expected under the display. In the hardware department, the Moto G6 Play is expected to be powered by a Snapdragon 430 quad-core SoC, and feature a massive 4,000mAh battery.

The Moto G6 is expected to be powered by a Snapdragon 450 octa-core SoC paired with 3GB / 4GB RAM and 32GB / 64GB on board storage. Talking about dual cameras, one is expected to be a 12-megapixel primary sensor along with 5-megapixel secondary sensor to add DSLR-like bokeh effects to your photos. A 16-megapixel front camera is also expected to be in tow.

Moto G6, Moto G6 Plus show up on retail website, revealing prices

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Moto G6, Moto G6 Plus show up on retail website, revealing prices

Lastly, the Moto G6 Plus will likely be powered by a Snapdragon 630 or Snapdragon 660 octa-core SoC, with 4GB of RAM and 64GB onboard storage. It is expected to sport the same dual cameras at the back, as the Moto G6. All three smartphones in the Moto G6-series are expected to run Android 8.1 Oreo out of the box.

Moto G6 Plus, Moto G6 and Moto G6 Play renders show off the phones in various color options

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Moto G6 Plus, Moto G6 and Moto G6 Play renders show off the phones in various color options

In terms of pricing, the Moto G6 Play is expected to be around $200, which is about Rs 13,000, the Moto G6 around $250, which is about Rs 16,300. There is no word on the pricing of Moto G6 Plus, but with the launch event less than an hour away, we will know more about it when Motorola officially makes the announcement.

[“Source-bgr”]

Xiaomi Mi Crowdfunding Launched in India: Here’s How it Works

Xiaomi Mi Crowdfunding Launched in India: Here's How it Works

HIGHLIGHTS

  • Xiaomi brings crowdfunding platform to India
  • It will sell “innovation-driven” products using consumer’s support
  • Offer currently available on two products

Xiaomi on Wednesday launched a new programme in India called ‘Mi Crowdfunding.’ With the new feature, users will be able to help the Chinese manufacturer in deciding which products it should release in India. Xiaomi will keep posting a curated list of “innovation-driven” products that it will sell only when a certain number of people are interested. If a particular product fails to meet the criteria in a set timeline, the product will not be shipped and the customers will get their money back. The crowdfunding platform has been launched as part of the Xiaomi Mi Fan Festival, which will run from April 5 to April 6.

As of now, Xiaomi has put up two products that it is planning to bring in India, on its dedicated webpage. The first product is the Mi Selfie Stick Tripod, which the company has priced at Rs. 1,099. It is a selfie stick and tripod combined into one unit and comes with a Bluetooth shutter remote. It is equipped with Bluetooth 3.0, meaning it will support smartphones running Android 4.3 and higher, and iOS 5.0 and higher.

xiaomi tripod Mi Selfie Stick Tripod

Xiaomi Mi Selfie Stick Tripod

The Mi Selfie Stick Tripod is able to rotate 360 degrees and comes with an adjustable grip to “accommodate the largest smartphones like Mi Max 2.” The product comes in only one Black colour variant, measures 45×49.5x190mm, and weighs 155 grams. Xiaomi promises that it will be shipped within 10 days of successful completion of the project.

Next is the Bluetooth Audio Receiver that has been priced at Rs. 999. The device, meant to provide wireless music, comes with a single key function that turns on the earphones, connects to Bluetooth, plays and pauses music, and answer calls as well. It comes with Bluetooth 4.2 to connectivity, and a headphone amplifier chip.

xiaomi bluetooth Xiaomi  Mi Bluetooth Audio Receiver

Xiaomi Mi Bluetooth Audio Receiver

Xiaomi claims that the 97mAh battery onboard can be fully charged within 2 hours and support 4 to 5 hours of playback. The device weighs 10 grams and comes with a 3.5mm audio jack. Users can pair up to two handsets but only one of them can be connected at one time. Notably, the product does not have the volume key function of Apple and Apple certified MFI earphones. It is available in a White colour variant.

To use the Mi Crowdfunding feature, first, you will have to select the product and click on ‘Support now’ to place your order. Following this, you can use any preferred online payment mode and pay within the defined timeline on the payment page. You will be able to come back anytime to check the project progress. Notably, a project is considered successful once the bar reaches 100 percent in the defined timelines. Also, in case you change your mind, you can cancel the order before it ships out.

[“Source-gadgets.ndtv”]

Black Mirror Season 4 Episode 1 ‘USS Callister’ Shows How Technology Enables Creeps

Black Mirror Season 4 Episode 1 'USS Callister' Shows How Technology Enables Creeps

HIGHLIGHTS

  • Black Mirror season 4 is available on Netflix
  • “USS Callister” is the first episode of new season
  • Charlie Brooker co-wrote, stars Jesse Plemons

Spoilers ahead for Black Mirror season four episode one, “USS Callister”. If you haven’t seen the episode, turn away and come back later.

At its surface, “USS Callister” – the first episode of anthology sci-fi series Black Mirror’s fourth season, out since Friday on Netflix worldwide – seems like a parody of Star Trek. It’s how the poster, stills, trailer, and the title have been set up, but that’s merely because marketing any episode of Black Mirror is a challenge, given its reliance on twists. (It’s also why Netflix prohibited us critics from revealing much about it.) The one in “USS Callister” appears less than 10 minutes into the episode, when it’s revealed that it’s all just a locally-stored Trek-themed fork of a popular virtual reality game.

From that moment on, the Trek inspiration turns merely into elaborate dressing, from the clothes to the sets, which hews as closely as possible to Gene Roddenberry’s vision with the 60s original series, without getting the CBS lawyers off their cushy seats. The real target of the episode are the power fantasies of human beings, and how can they can go very quickly from harmless to beyond creepy with advances in technology. Black Mirror has always been fascinated with digital consciousness – first with “White Christmas”, then “San Junipero”and now this – though it gets a much heavier focus on “USS Callister”.

Out in the real world, Robert Daly (Jesse Plemons) is the brains behind the online multiplayer VR creation, but he’s always been the ignored nice guy. He doesn’t get the credit unlike the public-facing Walton (Jimmi Simpson) – the CEO calls himself the “shiny front-end”, and refers to Daly as the back-end – he’s laughed at by his colleagues at the company, and he doesn’t get the reception he expects from the receptionist. Black Mirror makes it easy to sympathise with him, and view him as someone who can’t catch a break, but then turns that image on its head over the next hour.

black mirror season 4 uss callister nanette Black Mirror season 4 USS Callister

Annoyed and incensed by how he’s treated, Daly has created a modded version of the game, and he’s slowly introduced digital clones of his co-workers by stealing their DNA from the office, and using high-end tech to recreate them in the virtual reality. New employee Nanette (Cristin Miloti), who admires Daly professionally, is pulled in after he overhears her dismissing the idea of liking him in personal capacity. There, he expects her to be nice to him and forces her to comply when she refuses, like he’s already done with everyone else. In short, he’s the God.

But unlike, say, in a game of The Sims, his actions are far from harmless. The digital clones can think and feel pain like their counterparts outside, so when Daly demands a kiss from every female crew member at the end of each playthrough, or torments someone by creating a clone of their son and killing him in front of them repeatedly, that carries a lot more weight than starving a Sims baby to death. Black Mirror has always tried to warn us about the unanticipated dangers of new technology, and “USS Callister” posits how it can enable harmless creeps – Daly doesn’t seem bold enough to be a criminal – from acting out their fantasies.

That doesn’t make his actions any less criminal, though whether the laws in “USS Callister” have caught up to the available technologies is entirely unknown. Is Daly as bad as someone who would torture people in real life? Since the in-game versions of his co-workers have consciousness too, should Daly pay the same price as a criminal would in our world? And should a citizen be allowed to own a device that can help you digitally clone someone in the first place? Those are all questions raised by the episode, which has been directed by Toby Haynes (Doctor Who, Sherlock).

But Charlie Brooker, the creator of Black Mirror and co-writer on “USS Callister”, is more interested in creating an empowering story. Nanette is the true protagonist here, as it becomes clear, but the episode hides that by introducing us to the world from Daly’s eyes. We’ve all experienced situations where we’ve wanted to have control over someone, and that makes seeing Daly go through with that all the more harrowing, because there’s a bit of him in all of us.

black mirror season 4 uss callister deck Black Mirror season 4 USS Callister

“USS Callister” also ends up being accidentally timely, what with a woman having to escape from the clutches of a man who views her as an object serving as an allegory for the ongoing #MeToo social movement that erupted across the globe in the wake of sexual assault allegations levelled against major Hollywood producer Harvey Weinstein. In the episode, the video game versions of Callister employees are stuck in a universe where Weinstein is the only movie producer, so they have to work within those restrictions or face retribution.

While her other co-workers have chosen to give in, Nanette comes up with a strategy to free themselves from Daly’s control, which involves blackmailing her own self out in the real world. By doing so, she actually makes the original version of her self commit a crime – breaking and entering – who remains completely oblivious to how she’s helping a few digital souls escape their tormentor. We aren’t told how this impacts real-Nanette when Daly is inevitably found dead, but clone-Nanette ends up in a procedurally-generated world with infinite possibilities.

Black Mirror also gets in a dig about online gaming, with the first encounter for the digital clones being a conceited gamer – cheekily voiced by Aaron Paul’s distinctive voice – who threatens to blow them up for not serving his purpose. As an exasperated Nanette instructs her crew to warp away, he proclaims himself as ‘the king of space’, the words sounding hollow as you look at the vast virtual emptiness. The world will never be perfect, “USS Callister” argues, but you’ve always got to fight to make it better.

[“Source-gadgets.ndtv”]