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How to Fund Your Children Education

4 Ways to Fund Your Children’s Education

By Karen Galarpe

IT seemed like a scene from a scary movie: P30,000 per sem tuition now will become-- P111,000 per sem in 17 years at 8 percent increase per annum P152,000 per sem in 17 years at 10 percent increase per annum P206,000 per sem in 17 years at 12 percent increase per annum

As Registered Financial Planner Alvin Tabanag continued on with his Powerpoint presentation at the recent Money Sense Live! Family Finance 101 seminar, the audience looked at him in disbelief when he said it may take P1 million to P2 million to get a child through college 15 years from now.

That may be peanuts for the millionaires out there, but for the rest of us, that is a tall order. A very tall one. Clearly then, we must all save for our children's education, and the earlier we do so, the better.

Just how to do that? Tabanag, personal money management coach, author of Kaya Mo Pinoy! 12 Steps to Build Wealth on Any Income, and founder of Pinoy Smart Savers, counts the ways: