School Guide

15 Most Expensive Study Destinations Worldwide

Published by SchoolAdvisor | Nov 02, 2015

Nine out of 10 parents admitted that they have paid or are willing to pay for extra tutoring during at least one stage of their children’s education.

In addition to that, 88% of Malaysian parents would consider sending their children abroad to pursue their higher education. This is why it is important for parents to start saving for their children at an early phase.

For this reason, SchoolAdvisor.my have listed down 15 most expensive study destinations worldwide, so parents would know how to manage their money before sending their children abroad.

*These are the average relative costs of study per year.*The currency used in the original data is in USD. At the time this article was written, the exchange rate is USD1 = RM4.30 Considering the amount of money needed to send your kids abroad, we have come up with a few suggestions on how you can save up enough money for that purpose:Set Up A Bank Account For Your ChildMost parents only start to think about tertiary education when their kids are grown up or are in their pre-teen. Having an education plan for your children early on can prove to be really beneficial because you will be financially prepared for their tertiary education. Parents can set up a bank account for their kids when they are still very young so they can save up a certain amount of money each month. Imagine the amount of money you would have after 17 to 18 years of saving.Start Investing33% of parents whose children are in preschool think that they will have to take out a loan for their children’s tertiary education when the time comes. You can avoid being in debt by investing in unit trust funds so you can save without having to take a loan and spend the next 10 years repaying the debt.Include The KidsSome parents expect their kids to personally contribute to their own tuition fees or even for them to take up study loans so they can make it through their university years. Aside from putting in a certain amount of money in your kid’s bank account every month, you can also use this opportunity to teach them about money management. One way is to encourage your child to contribute to their own bank account from gifts received during festivals or even from their own pocket money.The cost of a university education is getting higher each year so it is vital for parents to start planning their finances early on to ensure that your children will have a brighter future by getting the best education.