How to Secure Your Child's Education? | Eela Dubey | Episode 5

About the Guest

Eela Dubey, co-founder and CEO of EduFund, is a powerhouse of ideas, determination, and impact. With a background in Political Science and French from NYU, she combines her global perspective with a deep-rooted connection to India. Her mission? To make quality education financially accessible to families, ensuring no dream is left unfulfilled due to lack of planning or resources.

Based out of Ahmedabad, Eela's journey spans from Wall Street to the heart of India's educational aspirations. She’s been recognized as a leader in the social impact space, highlighted by her participation in fellowships like the Reliance Foundation and Vital Voices program.

Key Topics Discussed

• The Rising Cost of Education Eela emphasized the staggering rise in education costs, especially in India, where a degree that costs 25 lakhs today could soar to one crore in 15 years. She attributes this to inflation, privatization, and the increasing preference for private schooling among families of all income levels.

• Financial Planning for Education The heart of EduFund lies in helping families save for their children's education. From encouraging early investments to providing cost calculators, Eela stresses the importance of planning ahead, especially in an era where household incomes may not match the rapid rise in educational expenses.

• The Role of Cultural Values in Financial Decisions Growing up in a family with strong savings habits, Eela reflected on the Indian inclination toward financial prudence. Her own experiences have shaped her perspective on investing, inspiring families to think long-term.

• Challenges of Starting EduFund From launching a company during the pandemic to navigating cultural shifts between the U.S. and India, Eela’s entrepreneurial journey is a testament to perseverance and adaptability.

• Empowering Women in Finance Eela is passionate about financial literacy among women. Through her fellowship, she’s undertaken a project to teach Anganwadi workers to save and invest, aiming to uplift communities through small, consistent investments.

Takeaways

1. Start Early: Whether it’s saving for education or learning about financial markets, beginning early can make a huge difference.

2. Adapt to Changing Trends: The shift from postgraduate to undergraduate education planning in India highlights the need to evolve with societal trends.

3. Leverage Resources: From cost calculators to financial literacy blogs, EduFund and similar platforms are packed with tools to simplify financial planning.

4. Stay Resilient: Entrepreneurship is a journey filled with challenges, but Eela’s advice is simple: stay the course, keep learning, and persevere.

5. Empower Through Education: Education is not just a personal asset; it’s a force for socio-economic mobility and community empowerment.

Key Links for the Guest

• LinkedIn: https://www.linkedin.com/in/eela-dubey/

• Instagram: https://www.instagram.com/eela.dubey/

• Twitter: https://x.com/dubeyeela