Educational Plans, practical pa ba?

[cocoysmom]

hi mga sis...

kumuha pa kayo for your kids ng educational plan? saan ok? ano coverage saka how much? practical pa ba kumuha when lately kaliwa't-kanan ang nagkakaproblemang insurance companies?

[aquacharly]

I don't believe in edu plans.
Best to save for your kids' education regularly; without fail, set aside a significant sum, or invest in real estate... and maximize returns on such.

My lola says that when they were growing up, there were no such edu plans... Her parents were provincial folks, who saved and bought properties & expanded their agri businesses.  (They were not hacenderos.) 

When a kid would go off to college in Manila or the US -- they just sold off a property or 2; and that sale would be enough for the entire course + simple living.   
(So it was understood by each kid:  do it right the 1st time, coz there won't be other properties sold for you next time.)

So there, sariling sikap daw and just really old-fashioned prep for the future and simple living -- all 12 siblings finished their undergrad at top Manila &/US schools.  Most went on to postgrad;  the doctors were totally schooled in the US. 

[thebratinella]

after what happened to CAP, i don't think it's a good idea. my parents availed of educational plans for my two brothers. the other one has graduated from nursing school but we didn't get a single penny from CAP. my youngest brother who's taking radiologic technology is set to graduate in 2011 and my parents pay for his tuition without any help from CAP. we're not even sure if we'll get anything from them. 

[twelvth_goddess]

Getting an educational plan is a bit scary nowadays considering what happened to the other institutions which filed for bankruptcy. Kawawa the parents of those who slaved their way to pay for the installments tapos they couldnt secure their child's education din in the end.

I agree with aquacharly that it's best to save and invest in properties.

[rainebowbrite]

Thanks for the tip sis aquacharly. Hindi ko naisip na yung property could be sold for that purpose. Kasi I'm used to thinking na property should be kept in the family.

I just realized na nung bata ako, when I heard my aunts/undles talking na so and so had to sell property para sa education ng anak, parang they say it with disdain, parang frowned upon. Ewan ko ba kung bakit.

Galing ng lolas and lolos mo sis! Based on what I have interpreted from your other posts, it seems like nasa lahi nyo na ata talaga yung magaling mag handle ng money/business

[shufee]

sis instead of getting edu plan which is a preneed insurance try to get yun life/edu plan insurance from known insurance companies, kasi ang difference nun yun life insurance is governed by Bangko Sentral and yun preneed is by SEC lang so safer yun money mo sa life insurance kasi monitored sila ng BS.  and if its life/edu they will actually give you the money on its maturity so kahit hindi mo sa school gamitin pwede pa din. its actually investment din insurance type lang nga.

[tin_j]

yung isang friend ko rin she told me daw better to get insurance kasi daw its more secure yun nga lang compare mo sa preneed company  mas malaki yung interest pero mas sigurado ka naman sa investment mo ..its up to you better to check pros and cons before you decide, i like din yung suggestion nang  isang sis to invest sa real estate [textspeak!] value nang lupa tumataas 

[midnight]

For me, no more na. Not with the increasingly high cost of a good education coupled with the low interest rates offered by pre-need plans. Plus, wala na masyadong value ang money malamang by that time. Baka ang 1k value nalang nya is parang sa mamera.

[marose17]

Instead of getting an educational plan, I invested money in a fund managed by a multinational insurance company.  Aside from life insurance coverage, my kids will get a lump sum by the time they turn 18.

[adikako]

Instead of getting an educational plan, I invested money in a fund managed by a multinational insurance company.  Aside from life insurance coverage, my kids will get a lump sum by the time they turn 18.

sis anong insurance company mo kinuha yan. thanks

[kurengkeng]

i dont believe in educ plans. even before magkaron ng mga scam scam na yan, i dont find it useful and practical.

[marose17]

^^ Sun Life Flexi-Link

I also got a variable life insurance/fund from Manulife.

[midnight]

ang ginawa naman ng aunt ko for her kids, instead of buying an educational plan for them, nag invest siya sa education ng mga pinsan ko. like, every year halos, updated ang encyclopedias nila, ng nauso ang computer, meron din agad. then laking tutorial centers sila. In fairness, bawi sila sa scholarships. I guess malaki din natipid ng aunt ko sa ganun.

[i_am_sweet]

Educational plans are risky.  You might as well keep it in the bank.  

I like midnight's aunt's strategy better.  With the proper materials and the parents' guidance these could enhance the child's learning experience.

[bella123]

i think for now,ang stability ng mga issurance company ang hindi sure just like what happened sa CAP kaya much better na ilagay nlang muna sa bank.

[midnight]

@ i_am_sweet - oo nga eh, nice strat yung sa aunt ko. her reason was, "at least kahit maubos pera ko alam ko pumasok sa utak ng anak ko, hinde napunta sa iilang tao na hinde ko naman kilala"

maganda din na early on, namulat na sa tutorial centers yung cousins ko so they didn't see anything wrong with continuing their sessions even when we were older. imagine, high school na kami pero tutorial center parin sila after school! dati nga kinakanchawan ko pa eh...

pero look at them now, scholars sa katipunan. inggit me.

[i_am_sweet]

^Ay, bat sa Katipunan, pede namang sa Diliman o kaya elsewhere? Hahaha    Just kidding.  Scholar din ako pero pinili kong maging berde e.

Lam mo natutuwa ako sa aunt mo, may naalala tuloy akong educational theory sa gawa nya na pag sagana sa materials, sagana rin sa learning experience.  Hayan pumapasok na naman ang mga nareview ko sa LET 

[rairai]

Nope. Educational plan for now are scam. i think from my POV. i preferred enrolling my son into sports than having this. e.g swimming, table tennis. educational plan now a days are just waste of time and money.

[midnight]

^^anong tawag sa educational theory na yun?

[marose17]

^ Teeyah, I actually invested in Flexilink.  By the time my kids enter college, the fund will be theirs.