UAE families spend Dhs1m to educate one child.
It costs families in the UAE almost Dhs1 million to educate a child, according to a new report from Zurich International Life Limited
The lifetime education cost for one child is on average Dhs933,945, excluding compound interest rates, and based on the total cost of education of two years at pre-school, six years at primary school, six years at secondary school and three years at a British university.
In the UAE, pre, primary and secondary school costs add up to an average of Dhs528,390 per child. These costs exclude other fees such as the cost of books, trips and uniforms.
Additionally, these costs could increase by up to 40 per cent for top tier schools.
"A typical family with two children could look at spending as much as Dhs2 million on education," says Amrita Sethi, Head of Marketing and Communication for Zurich International Life, Middle East.
"While some employers in the UAE contribute to education costs at primary and secondary level, the majority of people are left having to pay these costs themselves, with 70 per cent of parents funding their child's education from day-to-day income."
Tertiary education fees differ by country, for example the average yearly cost of tuition in Australia and Canada is Dhs55,163, while the US has annual fees averaging Dhs84,428 per year.
UAE-based universities average Dhs76,492 per year, while in the UK it costs an average of Dhs57,000 annually.
In addition to up-front costs of education, basic living expenses raise the costs even further, with accommodation, food, utilities, travel and day-to-day living expenses all adding to the burden on families.
These extra costs equate to as much as Dhs234,551 for one student over a three-year UK course, according to research published in 2015 by the University of Edinburgh.
[c] 2016 Al Sidra Media LLC Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Publication:||7 Days (Dubai, United Arab Emirates)|
|Date:||Sep 5, 2016|
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