The online education market in Russia is growing steadily. According to statistics, its total turnover in 2023 increased by 50 billion rubles compared to 2022 figures. Millions of adult Russians undergo additional online education every year. The market for distance education for children is not lagging behind - it has been growing steadily over the past few years.
The most popular courses in terms of duration remain 4-6 months, and the most in-demand professions are specialties in the EdTech field. Distance technologies make education more accessible. The only barrier remains the relatively high cost of courses. Therefore, it is worth talking about what is more rational: paying for tuition with a loan or independently accumulating the required amount.
4 Ways to Find Money for Online Education
Globally, there are only 2 options: to use your own or borrowed singapore mobile database funds to pay for education. However, there are 4 main ways to form a budget for education: you can save in different ways, as well as borrow. Therefore, we will consider each option in detail.
1. Accumulate
Pros:
no need to pay interest and waste time on obtaining a loan or credit;
the credit potential is maintained, the financial burden does not change.
Cons:
the start of education is postponed, but the sooner you start studying, the faster you can change your profession and, probably, increase your income level;
Without savings accounts and high-interest deposits, your money will gradually be eaten away by inflation.
The only thing that prevents most people who have given up on this idea from taking out a loan to pay for their education is their unwillingness to pay interest. The total amount of overpayment is emotionally perceived as a financial loss. Although in reality, due to the high level of inflation, with long-term savings you can lose more.