Cost to send child to international school in Singapore tops $500,000
International school education comes at a very high cost in Singapore. Is it worth it?
According to a recently published report, expats sending their kids to international schools can expect to pay more than S$500,000 in school fees over the course of their child's education.
The report, "International school tuition fees in Singapore and beyond" by London based analyst the Centre for Economics and Business Research, looked at international school fees in the UK and at popular destinations for British expats in Asia, such as Singapore, Hong Kong, Malaysia, Thailand and Indonesia.
The report showed that the fees in Singapore are the second most expensive after the UK, and the cost has risen 23.2% over the past five years in both countries.
To give you an idea, a student in Singapore can expect to pay S$589,000 in total tuition fees if they start in 2015, S$110,800 more than a student who started 5 years ago.
But despite this increase, Singapore is still ranked the second most affordable as as average wages are higher here than in other Asian markets. Hong Kong was ranked as the most affordable, and Indonesia the least.
Reports also suggest that expats can expect the costs to continue to rise in the coming years.
Megan Peer, an expat from Norway, is shocked at the cost of schooling her three kids here in Singapore. She says she hasn't even spent that much on her own university graduation!
Jude Newman, from Australia, said they were considering local schools but since they didn't know how long they would be here before they go back home, they had to bite the bullet and pay the high fees.
Another expat couple we spoke to, with two high school going children, said," Yes, the fees are very high but the costs pale in comparison to the facilities offered and the exposure our kids are getting."
International schools in Singapore have some of the world’s most modern facilities and consistently achieve outstanding academic results. However, as with other things in life, the great results definitely don't come cheap.
What are your views on this topic? Is it fair that expats should have to spend so much on schooling for their children in Singapore? Do share your thoughts with us in a comment below.