No matter how old your child is, a parent's list of worries is endless – and their child's education is always on the list. Besides local universities, many parents are preparing to send their children to study abroad. This will offer them exposure to western education and culture, and further develop their independence and life skills. However, what does that preparation entail? What about annual tuition fees and living expenses? And what else do parents need to consider?
It is important to understand your child's aspirations and interests, and place them in an environment that complements their abilities. Doing so will help your child settle in to their destination more easily, putting them in a better headspace for studying.
| Country | Tuition | Living expenses (Housing, Meals, Transportation) |
Total per year |
|---|---|---|---|
| USA | SGD$35,200 (USD25,000) |
SGD$21,200 (USD15,000) |
SGD$56,400 (USD40,000) |
| UK | SGD$32,200 (GBP20,000) |
SGD$19,300 (GBP12,000) |
SGD$51,500 (GBP32,000) |
| Canada | SGD$18,100 (CAD17,000) |
SGD$12,700 (CAD12,000) |
SGD$30,800 (CAD29,000) |
| Australia | SGD$22,700 (AUD24,000) |
SGD$19,300 (AUD20,400) |
SGD$42,000 (AUD44,400) |
| Singapore | SGD$20,000 | SGD$18,000 | SGD$38,000 |
| Country | USA | USA |
|---|---|---|
| Tuition |
SGD$35,200 (USD25,000) |
SGD$35,200 (USD25,000) |
Living expenses (Housing, Meals, Transportation) |
SGD$21,200 (USD15,000) |
SGD$21,200 (USD15,000) |
| Total per year |
SGD$56,400 (USD40,000) |
SGD$56,400 (USD40,000) |
| Country | UK | UK |
| Tuition |
SGD$32,200 (GBP20,000) |
SGD$32,200 (GBP20,000) |
Living expenses (Housing, Meals, Transportation) |
SGD$19,300 (GBP12,000) |
SGD$19,300 (GBP12,000) |
| Total per year |
SGD$51,500 (GBP32,000) |
SGD$51,500 (GBP32,000) |
| Country | Canada | Canada |
| Tuition |
SGD$18,100 (CAD17,000) |
SGD$18,100 (CAD17,000) |
Living expenses (Housing, Meals, Transportation) |
SGD$12,700 (CAD12,000) |
SGD$12,700 (CAD12,000) |
| Total per year |
SGD$30,800 (CAD29,000) |
SGD$30,800 (CAD29,000) |
| Country | Australia | Australia |
| Tuition |
SGD$22,700 (AUD24,000) |
SGD$22,700 (AUD24,000) |
Living expenses (Housing, Meals, Transportation) |
SGD$19,300 (AUD20,400) |
SGD$19,300 (AUD20,400) |
| Total per year |
SGD$42,000 (AUD44,400) |
SGD$42,000 (AUD44,400) |
| Country | Singapore | Singapore |
| Tuition | SGD$20,000 | SGD$20,000 |
Living expenses (Housing, Meals, Transportation) |
SGD$18,000 | SGD$18,000 |
| Total per year | SGD$38,000 | SGD$38,000 |
The actual expenses will vary, depending on the city and university that you choose. The cost of living will also fluctuate depending on your child's proximity to the campus.
It is important to note that for some universities, you'll need to submit an application a year before the school term starts. You can do so online or via post. If you're looking to enrol in a bachelor's degree at a university in the UK, you can do so through UCAS. Once you receive confirmation of admission, you can start applying for a student visa with the immigration office of your destination country/region.
It goes without saying that studying abroad is a big investment. A three to four-year programme will cost roughly between SGD120,000 and SGD160,000. If financing it proves to be difficult, you can consider other means to do so. For example, the HSBC Personal Loan provides a loan amount of up to 8 times your monthly salary or SGD200,000, whichever is lower. You can opt for a repayment period of up to 84 months, so you can enjoy a more comfortable repayment schedule while covering tuition costs and living expenses. And in the event that you need additional funds, you can use the repaid loan any time without having to reapply.
