Breaking the bank: Singaporean parents grossly underestimate cost of foreign education, says HSBC

Foreign universities are 83% costlier than local ones.

Most Singaporean parents dream of sending their kids to foreign universities, but an HSBC report showed that majority of moms and dads are grossly underestimating the staggering cost of overseas tertiary education.

According to the HSBC report, 81% of Singaporean parents are considering sending their child abroad to university.
Moreover, Singaporean parents expect to pay on average 48% more for an international education than a domestic one – however, in reality the cost to send their child abroad is 83% higher than attending a local university.

“There is a major gap between parents’ funding expectations and reality when it comes to overseas education and many parents in Singapore might not have considered the additional living expenses and air fare for their children,” said Matthew Colebrook, Head of Retail Banking and Wealth Management, HSBC Singapore.

He added that parents looking to send their children overseas must consider the additional cost compared to a local degree, save early and take into account the number of years that the child may need to be living and studying overseas.

"Parents are planning but it is clear that they have underplayed the goal and risk falling short," Colebrook said.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia