The cost of education is up to 64% of their retirement savings, claims the recent HSBC Quality of Life report.
By ET CONTRIBUTORS |
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Over two-thirds of affluent parents sending kids to study abroad.
Do any of your children currently study abroad or are planning to do so? Over two-thirds of affluent parents sending kids to study abroad. 48-64% is the annual cost of international education (for 3-4 years) as a percentage of the parents’ retirement savings. $62,364 or Rs.52.3 lakh is the average cost of international education per year. Q. How are you or your child going to cover the cost of studying abroad? 40% parents expect their child to take student loans
Q. In which country is your child studying or will study? USA is the top destination for Indian students Q. What is the main reason for considering overseas education? Financial concern tops the list of parental worry Q. What is the main concern regarding your child’s well-being overseas?
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