So if I can’t afford to send my child overseas, what’s the next best thing?

Let’s face it, not all of us can afford to send our children overseas for 3 years or more without some kind of scholarship. Yes, we can use our CPF to fund for our children’s studies but in local universities, not to overseas universities. Let’s be honest here too… How many of our children can get into our local universities? Maybe they can but, they may not be studying the subject that they really want to.

Compromise is a familiar word for most of us. We live our lives having to compromise much of our dreams. We should not allow this to happen for our kids. We should help them to see that there are options to study what they really love and to do what they really love.

Options?

If you really value an overseas education for your child, there really is no other options. What can you do?

Start saving money to prepare to send your child over on your own. How much would you need to send your child to study in the United Kingdom (UK)?

a. Tuition Fees. A conservative amount would be approximately SGD$27,000 per year. If the programme takes 4 years to complete, then the amount you need to set aside would be SGD$108,000.

b. Accommodations and meals. If your child stays on campus in the Halls, the fees for lodging and meals would be estimated at SGD$13,500 per year. For 4 years, that would be SGD$54,000.

c. Personal Expenses. Daily expenses is not crucial as meals are included when your child stays in Halls. But you need to make sure that he/she has some money for their own expenses and incidentals. SGD$5,000 per year should be enough. That means an additional $20,000 for the 4 years of study.

An estimated total for the 4 years is SGD$182,000! Did you know that you do not need this amount at the beginning? In order for your child to start his or her first year of studies, you will need:

  • First year tuition fees paid (i.e. SGD$27,000)
  • First year accommodations bill (i.e. SGD$13,500)
  • Show that you have SGD$18,000 in your bank account.

To enable your child to start on his or her journey, you do not need SGD180,000 but SGD$60,000. Can you save for this?

Yes, with some planning, of course you can!

But if you think that it is too expensive and beyond what you can afford, then you can always opt for these solutions I am about to share with you.

Option 1:

If you still would like your child to gain a degree from a UK university, then let him or her study via Distance Learning. You only need to pay for the tuition fees which is approximately SGD$34,000 for 4 years! Only SGD$8,500 per year. And to make it even more affordable for you, tuition fees are paid via monthly installments of about SGD$710. No big amounts to be paid up front. To confirm enrollment, you only need to pay the first installment. This is truly an affordable option.

This option works not only for fresh GCE A Level or Diploma graduates, it also works for working adults who are looking to study for a degree. If this is you, I can help.

Option 2:

Instead of travelling to the UK, you can consider studying in Europe. Tuition fees are generally MUCH LOWER in Europe than in the UK. The trick is to make sure you choose a University that provides credible internships. These internships provide you with work experience which are invaluable to setting up opportunities for work through connections.

Generally, tuition fees range between EUR 2000 to EUR 20,000 per year depending on which country. Here are some examples:

  1. Poland

Full-time studies in the Polish language at the state Higher Education Institutions are free for Polish students and foreigners who commence studies in Poland on terms applicable to Polish citizens.These include citizens of the EU/EEA and students who hold the Polish Charter (Karta Polaka).

All other foreigners are required to pay tuition fees that on average are the following:

  • EUR 2000 per year for first, second and long cycle studies,
  • EUR 3000 per year for doctoral, postgraduate and medical postgraduate internships as well as scientific, arts, specialist and post-doctoral internships,
  • EUR 3000 per year for vocational courses and apprenticeships,
  • EUR 2000 per year for an annual preparatory Polish language course to commence studies in Polish

Fees at public and non-public HEIs are established by the institution itself. The tuition fees range from EUR 2000 to 6000 per year and depend on the institution and study program. For MBA programs thye cost is about EUR 8000-12,000 per year. (http://www.studyinpoland.pl/en/education/18-tuition-fees)

2. Spain

  • Spanish universities follow the Bologna university system and each student is required to complete a minimum of 60 (ECTS) credits for one year of university. Tuition fees are calculated and presented according to credits.
  • A Bachelor program can cost between €680-1,280 per year at a public university.
  • Masters or Doctoral degrees at a public university can vary between €22-36 per credit.
  • Fees to attend a Bachelor program in a private university can vary between €5,500-18,000 per school year.
  • Along with tuition fees, students have to pay a college application fee. These fees vary but remain less than €44. For more information about application costs, contact your university admission team. (https://www.educations.com/study-guides/europe/study-in-spain/tuition-fees-12571)

3. The Netherlands

For students with other nationalities the average tuition fee for bachelor’s programmes is between € 6,000 and € 15,000, and for a master’s programme between € 8,000 and € 20,000. (https://www.studyinholland.nl/finances/tuition-fees)

There are many other countries in Europe for you to choose from but not all may be suitable for your child. In terms of culture and diversity, I believe Europe has a lot more to offer than the UK but at the end of the day, the decision is yours.

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