Are you saving enough? The Rising Costs of an Overseas Education

TYPE in "college costs" on Google and get suggested search options like: "college costs too much" and "college costs out of control". If you are planning to send your children to further their studies overseas in future, this article would help you gauge if you are really saving enough.

Universities now face rising costs, and it's politically easier to charge international students more instead of making local students pay. Singapore has done the same, sharpening the distinctions between citizens, permanent residents and foreigners. Singapore parents who want to send their kids abroad will have to deal with ever-increasing fees and higher cost of living, especially in big cities like New York or London. The decision to opt for overseas education depends on financial ability, their children's own capabilities, and the course they are studying. It is not a light one to to make. 

Parents need to have sufficient resources and factor in generous estimates of how much the education would cost. Financially speaking, unexpected fee increases, exchange rate fluctuations, and other unpredictable circumstances such as parents becoming unemployed or falling ill can combine to make costs unaffordable for many families. You would have to make the smart decision on whether a local or an overseas education would be better for you and your child.

More information can be found in The Business Times