The rising cost of education is becoming increasingly problematic for families in Singapore that simply want their children to have the opportunity at a great education. In the last decade, the cost of education in Singapore has increased 21% faster than core inflation, which suggests that schooling is becoming more costly faster than other aspects of life in an already expensive place. In this article, we highlight some ways that parents can reduce the cost of their children’s education without cutting corners.
Plan Ahead for This InvestmentThe sheer amount that it costs to educate a child from primary through university can be intimidating to parents. For example, HSBC’s Value of Education survey of parents and students found that Singaporean parents spend the second most of any country for their children’s educations at approximately S$95,768 per child over the course of their entire education. Furthermore, HSBC found
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