New Delhi, Jan. 22 -- As education costs rise faster than inflation, many parents are starting to plan early for their children's higher studies.

Kolkata-based Akash Samanta, 38, and Meghna Basu, 36, a homemaker, have not specifically planned for their five-year-old son Aihik's education, but they invest monthly in a public provident fund (PPF) account. In addition, his grandfather has invested in a children's mutual fund that can only be redeemed when Aihik turns 18.

"We are aware that education costs are going up, and it is important to stay prepared. We have started investing, and we plan to take a more structured approach as he gets older," said Samanta.

In contrast, Bengaluru-based Roshan Setty and Neena Biswal, both 43, parents o...