Paying for child’s education is the most important financial commitment for 44% Indians: HSBC survey

In India, 87% of parents feel their child will have a bright future, finds the HSBC Value of Education survey. Here are more such findings from the survey.

Indian parents among most optimistic in the world
85% feel their child will land a great job.
82% say their child will earn top grades.
Worldwide average is 68% and 62% respectively.


$18,909 is what on average Indian parents spend on their child’s education.
The world average is $44,221.

Parents go the extra mile to give their child a good start
83% of Indian parents are either paying for private tuition or have paid for it in the past.
96% of parents have at least one child in paid-for education.
44% parents feel paying for their child’s education is the most important financial commitment.

A university education in a different country is coveted worldwide
62% of parents in India would consider sending their children to a university abroad for higher studies. UK, Australia and the US are the most favoured destinations for studies abroad.

Practical steps for parents

• Consider the benefits of university education abroad: It can help your children to be independent and enhance their job prospects.
• Be realistic about the costs: Make sure to plan for all the implications including higher tuition fees, international travel, accommodation, day-to-day expenditure and exchange rate fluctuations.
• Start planning early: Early planning and saving for education can help your children fulfil their potential and limit the strain on family finances. Seeking professional advice can help you plan and make better informed choices.

Source: HSBC Value of Education Survey. At least 500 parents were surveyed for the study in India.