There is no disputing that a good education is the greatest gift you can give your child, in fact its also a financially smart one – according to the 2013 Education Pays report*, the expected lifetime earnings of those with a professional degree is almost three times that of those without.
Its not surprising then that a recent study by HSBC** revealed that 86% of parents in the UAE are hoping their child will study to a postgraduate level. The same report noted that most parents are not financially able to support the educational ambitions they have for their child.
While the costs of education continue to increase, if you start to save as early as you can and take a planned, regular approach to saving and investing, the easier it will be to meet this need in the timeframe you have left.
Advert costs source: www.ucl.ac.uk
*Text sources: http://trends.collegeboard.org/sites/default/files/education-pays-2013-full-report.pdf
**HSBC study ‘The Value of Education: Springboard for success’ April 2014
Reproduced with permission from The Value of Education, published in 2014 by HSBC Holdings plc.
The calculator below will provide you with a ballpark figure to work from. Once you have your figure, simply complete the contact form and an HSBC representative will call you to discuss how you can best reach this savings need.
Now complete the form to see how these costs can be met