Uncertainity in getting the return is known as Risk. Investopedia defines Risk as the chance that an investment's actual return will be different from expected. Risk includes the possibility of losing some or all of the original investment. There is significant difference between the risks associated with return which means higher the risk, higher the return and vice versa. Stock market is highly volatile and people are abstaining from investment because of uncertainty in return i.e. they lose some amount of money or the original investment itself. The risk occurs from many different sources. Investors do not understand risk sources and hence they end up with probabilities of getting lower return. Investment options such as mutual fund, share, provident fund and bonds are generally considered for the study. Many studies have been carried out in order to understand the determinants of investors risk taking level. Most of the studies provide partial risk taking level of individual investors. Risk on investments has been studied on various sectors such as Manufacturing, Mining, Service Industry, etc. and also on various investment products such as investment on Equity, Mutual Fund, Gold, Real Estate, Bank Deposit, National Savings Scheme, etc. about their risk and return. The authors wants to study about the risk bearing level of investors based on their educational qualification. The research survey has been conducted in the area of Chennai city (Country India) with the sample of 161 respondents. To analyze the data, the statistics tools used are Percentage analysis, ANOVA and Correlation. The ANOVA study result reveals that there is no significant difference between the Investment Risk and Educational Qualification of the respondent. Based on the Duncan test results, Diploma and Professionals qualified investors come under one subset and School, Undergraduate and Postgraduates come under other subset. If these two groups were given adequate awareness about investments, then there could be high impact on their return by reducing considerably the risk factors.