UAE school fees second highest in world
Dubai - Cost for sending a child to school, from primary to university, will be around Dh365,025.
Education costs are touching the sky in the UAE with a survey revealing that school fees in the country is the second highest in the world.
An HSBC study found that the cost for sending a child to school in the UAE, from primary to university, will be around $99,378 (Dh365,025). It is the second highest in the world, the first being Hong Kong where parents have to spend around $132,161 as educational costs.
HSBC's The Value of Education series is based on a survey conducted with 8,400 parents from 15 countries and territories. It also explores parents' perceptions of digital learning and the importance of international studies in a globalised world.
"With the rise of the information economy and a challenging job market for young people, education has never been more important than it is today. Parents know this and they are willing to go to great lengths to secure the right educational opportunities for their children," said Charlie Nunn Group, HSBC's head of wealth management.
Here are the key findings from HSBC:
As many as 71 per cent parents started making plans for their child's education, and 60 per cent started making funding decisions, before the little one had begun primary education.
The highest proportion of parents with at least one child in paid-for education are in India (96 per cent), the UAE (93 per cent) and Indonesia (87 per cent), while the highest proportions of parents currently paying for private tuition (or who have done so in the past) are in China (93 per cent), Indonesia (91 per cent), Hong Kong (88 per cent) and Egypt (88 per cent).
Spending on education
From buying school uniforms to paying university fees, parents fund many expenses for their children's education.
On average, parents in the UAE say they spend $99,378 on their child's primary, secondary and tertiary education up to undergraduate level.
Gateway to employment
Almost all parents (95 per cent) would consider a university education for their child, with 91 per cent mulling postgraduate studies. 90 per cent parents in the UAE would consider postgraduate education for their child.
Parents in the Middle East and Asia are the most likely to consider a university education abroad. Nearly 65 per cent parents in the UAE would consider university abroad for their child.
More than two-thirds (69 per cent) of parents agree that new technology means everyone has more access to good education, particularly parents in India (85 per cent), followed by those in Indonesia (83 per cent) and the UAE (69 per cent).
To be accessible to more students, universities across the world are using new technology and many now offer online learning programmes. Most parents (73 per cent) are aware of these online degrees and 60 per cent would consider a university degree for their child that is either completely online or incorporates some online courses/ modules.
"The digital campus offers online education that is flexible and catered to fit around differing work and life demands, enabling students to work, earn and learn in some of the world's best institutions without having to move home, leave their job or sacrifice their career," said Professor Timothy Quine, deputy vice-chancellor of education, University of Exeter.
Parents in Asia are the most likely to consider online degrees, especially in India (82 per cent), Indonesia (80 per cent) and China (76 per cent), with parents in China (50 per cent) being the most likely to consider a degree that is completely online.