Economics

High Cost of Going Abroad For College

Of 15 countries surveyed, there was a dramatic increase in interest in international education, even though it is very expensive.

The survey was recently sent out by HSBC bank to track the percentage of parents who are considering sending their kids abroad for college. The results showed that 42% parents are considering education abroad, which is a growth compared to last year’s 35%.

It also showed that the countries with the most enthusiasm were China, Hong Kong, India, Malaysia, Indonesia, and the United Arab Emirates, revealing that the majority are from Asia and the Middle East.

Compared to that, Australian, British, and French parents showed less interest, since only 17%-22% are willing to send their kids abroad for college. Among this, 36% were American parents.

The United States was shown to be the most desirable place for studying abroad, with Australia and the U.K following.

HSBC shared that it will cost parents more than $180,000 to send their kids to American universities, including living expenses, with the disadvantage that international students tend to pay full tuition without many scholarship benefits; however, many parents are still willing to pay this high cost.

Source: CNN Article

Categories: Economics

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