The cost of putting one Child through education from pre-school through to university could reach almost AED1m ($272,241) for families in the United Arab Emirates (UAE), research from Zurich (Middle East) shows. The exact figure, AED938,599, is 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 UK university.
In the UAE, pre, primary and secondary school costs add up to an average of AED528,486 per child, a slight increase on last year’s figures. These costs exclude other fees such as the cost of books, trips and uniforms and could increase by up to 40% for top tier schools.
When it comes to education – as this research shows – it is important to start planning early to ensure enough capital is available when your child is ready to start university. Adopting a long-term approach to savings could help fund the best education for your Child without worrying about the cost.
Such a plan will not provide everything that is needed. However, better to have something that means you don’t have to fund all the costs from income! Not doing anything will not make the problem go away, just get bigger the longer you leave it. So, don’t fail to plan, because that is planning to fail.
Do YOU have Children? Want/need to review their educational future so you don’t spend nearly half your annual income funding theirs?