4 in 5 parents would consider sending children to university

[Jman888]

  Quote

4 in 5 parents would consider sending children to university overseas

AsiaOne Wednesday, Sep 10, 2014

About four in five parents will consider sending their children abroad for university education.

According to HSBC's survey The Value of Education: Springboard for success, Singaporean parents viewed independence, international work experience and confidence as the key benefits of studying abroad.

Over 4,500 parents were surveyed across 15 countries worldwide.

Over half of Singaporean parents (51 per cent) felt that the US offered the highest quality of education. This was followed by the UK (38 per cent), Germany (27 per cent), Australia (25 per cent) and Japan (25 per cent).

However, the results also revealed confidence in local education options, with three quarters of Singaporean parents agreeing that the quality of education here is better than other countries.

Mr Matthew Colebrook, Head of Retail Banking and Wealth Management at HSBC Singapore, said: "Our survey shows that parents know the value of a good education and they tend to take full responsibility for funding it."

The survey showed that Singapore, with average annual costs of US$39,000 (S$49,200), was the second most expensive option for international students pursuing tertiary education. Australia was the most expensive at US$42,000.

The annual total cost is the sum of the average annual university fee and the average annual cost of living for an international undergraduate student.

"The reality is that education costs are high, no matter in Singapore or overseas," says Colebrook, "but with proper planning and an astute investment plan, most of the financial uncertainties can be eliminated."

According to the survey, more than half (53 per cent) of Singapore parents believe that paying for a child's education is the best investment, and would allocate an average of 53 per cent of their future child financial support funds to it. Most assume that funding will come from savings (71 per cent) or their current income (55 per cent).

Singaporean parents are also more open to funding education at a later stage, with just 23 per cent that would consider paying for their child's primary education, 36 per cent for secondary education and 70 per cent for university.

According to Colebrook, relying too heavily on current income and savings to fund university education could be risky, and that a financial advisor could help parents discuss goals, project total amounts required and map our the most suitable financial solutions.

"Parents should also ensure protection to continue funding school fees should something unexpected happen to them." he added.

seanyap@sph.com.sg

 

 

 

 

4 out of 5?? i think base on the selected group in the survey, they shouldn't conclude such as misleading information.

 

Nevertheless, would you consider sending your kids overseas if you have the mean?

 

 

Edited September 10, 2014 by Jman888

[Soya]

Halo....survey presumably conducted by HSBC Wealth Management on their clientele. I'm surprised the answer was onli 4 out of 5. Thot all can afford to buy a place donate to the skool.....

 

 

 

 

[Mockngbrd]

at first i thought i saw "selling" to university

[Soya]

Total cost is US$40,000 yr for Sgp? Sure boh? Thot NUS fee onli S$9k thereabouts?

 

 

 

 

 

 

[Jman888]

  On 9/10/2014 at 7:36 AM, Soya said:

Total cost is US$40,000 yr for Sgp? Sure boh? Thot NUS fee onli S$9k thereabouts?

 

 

 

 

 

 

 

 

maybe include lodging and other expenses.

[Joseph22]

  On 9/10/2014 at 7:36 AM, Soya said:

Total cost is US$40,000 yr for Sgp? Sure boh? Thot NUS fee onli S$9k thereabouts?

 

 

 

 

 

 

 

I think its without subsidiary rate.

 

9K is after subsidiary??

[Ahseng]

im part of the minority 1/5

 

too damn gao lad already. Maybe if one child can la, scrimp and save.

 

if 2 and above, send abroad for uni, plus cost of living there, knn outflow and outflow, buay tahan one.

 

if really lee hai get a scholarship study overseas, else just be like most other ppl nus, ntu, smu, unisim lor, also can survive la.

[Jman888]

  On 9/10/2014 at 7:40 AM, Joseph22 said:

 

I think its without subsidiary rate.

 

9K is after subsidiary??

 

 

oh yahor, singporean study in australia have to pay full fee, hence the non subsidised rate for Singapore uni.

Edited September 10, 2014 by Jman888

[Joseph22]

  On 9/10/2014 at 7:42 AM, Jman888 said:

 

 

oh yahor, singporean study in australia have to pay full fee, hence the non subsidised rate for Singapore uni.

yeah. I think the table is a apple to apple comparison without factoring in subsidiary.

[Soya]

  On 9/10/2014 at 7:38 AM, Jman888 said:

 

 

maybe include lodging and other expenses.

 

 

since they are probably kids of hsbc wealth management clients, maybe include the following per year:

i) uni fees $9000

ii) starbucks + lunch at sentosa club everyday $10,000

iii) branded apparel $12,000

iv) 325i coupe $20,000

 

yep, works out to USD $40,000 per year.

 

[Myxilplix]

In other news, 1 in 2 Singaporean teenagers has been exposed to pornography.

[Joseph22]

  On 9/10/2014 at 7:46 AM, Soya said:

 

 

since they are probably kids of hsbc wealth management clients, maybe include the following per year:

i) uni fees $9000

ii) starbucks + lunch at sentosa club everyday $10,000

iii) branded apparel $12,000

iv) 325i coupe $20,000

 

yep, works out to USD $40,000 per year.

 

enough meh??

[Jman888]

  On 9/10/2014 at 7:46 AM, Soya said:

 

 

since they are probably kids of hsbc wealth management clients, maybe include the following per year:

i) uni fees $9000

ii) starbucks + lunch at sentosa club everyday $10,000

iii) branded apparel $12,000

iv) 325i coupe $20,000

 

yep, works out to USD $40,000 per year.

 

 

 

you sure the coupe only cost $20k a year? can settle for a normal 325 sedan?

[Chucky2007]

Even without the means to send my kids overseas now.. I'm saving to do so in future.. I take it as hard savings and if they choose to study locally.. Then good I have more funds for retirement.

[Ronleo]

  On 9/10/2014 at 7:41 AM, Ahseng said:

im part of the minority 1/5

 

too damn gao lad already. Maybe if one child can la, scrimp and save.

 

if 2 and above, send abroad for uni, plus cost of living there, knn outflow and outflow, buay tahan one.

 

if really lee hai get a scholarship study overseas, else just be like most other ppl nus, ntu, smu, unisim lor, also can survive la.

If send kids to India study uni, no need to scrimp n save liao...

 

Less than $6k per year... After tat, can come back singapore join IT industry as FT and

get HUGH paycheck!

[Aaronlkl]

The chart shows Singapore, the highest cost of living among all countries! Really lives up to its name, The most expensive city to live in the world!

Edited September 10, 2014 by Aaronlkl

[RH1667]

Surprise to see that Australia is more expensive ( overall ) than US and UK.

 

Also, cost of living is less then US$1k per year in US??? Got so cheap?

[Ahseng]

  On 9/10/2014 at 8:36 AM, Ronleo said:

If send kids to India study uni, no need to scrimp n save liao...

 

Less than $6k per year... After tat, can come back singapore join IT industry as FT and

get HUGH paycheck!

 

Err,...do you have kids? I have daughter and i wouldn't want her to be anywhere in india.

 

INDIA ley bro...