the economic times has still not plumbed the depths of the other 'esteemed' publications yet and the local editions are perhaps just notches above the bombay/delhi editions.
so this article is interesting in its premise and values thrown up:
Educating your kids is no child's play
Our estimates indicate that it could cost on an average Rs 21 lakh (at today's prices) on education of a single child from school to college. This includes expenditure on school fees, coaching classes, books, stationery and so on. If you have to include post-graduation studies as well (MBA, for instance), the cost is even more. It reaches Rs 98 lakh.
while the 98 lakhs seems out of proportion, there is certainly some validity in the 21 lakhs.
i think private education is the sciences (engineering or medicine) will cost more than 21 lakhs.
and my estimation indicates that the majority of this cost (during the K-12 period) will be spent on private coaching/tuitions and the actual cost of school fees will be less than a quarter of the total cost of education.
one of the primary tasks of parents in the USA is to save up for their children's college education and looks like indians are headed that way too.
good luck mates.