{"id":17181,"date":"2017-07-08T15:03:20","date_gmt":"2017-07-08T22:03:20","guid":{"rendered":"http:\/\/siliconeer.com\/current\/?p=17181"},"modified":"2017-07-08T15:03:38","modified_gmt":"2017-07-08T22:03:38","slug":"indian-parents-spend-around-19000-on-childs-education-study","status":"publish","type":"post","link":"https:\/\/siliconeer.com\/current\/indian-parents-spend-around-19000-on-childs-education-study\/","title":{"rendered":"Indian Parents Spend Around $19,000 on Child\u2019s Education: Study"},"content":{"rendered":"

An Indian student as she graduates college.<\/em><\/p>\n

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Parents in India spend an average $18,909 towards their child\u2019s education from elementary school up to undergraduate level, much lower than the global average of $44,221, according to a study.<\/p>\n

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\u201cParents in India are spending an average of $18,909 (compared with $44,221 worldwide) towards all aspects of their child\u2019s education costs (including school or university tuition fees, educational books, transport and accommodation) from elementary school up to university undergraduate level,\u201d according to HSBC\u2019s \u2018The Value of Education\u2019 series \u201cHigher and Higher.\u201d<\/p>\n

Of the respondents, parents in Hong Kong spend $1,32,161, followed by the UAE ($99,378) and Singapore ($70,939), contribute the most towards all aspects of their child\u2019s education costs.<\/p>\n

The \u2018Value of Education\u2019 represents views of 8,481 parents in 15 countries and territories, including Australia, Canada, China, Egypt, France, Hong Kong, India, Indonesia, Malaysia, Mexico, Singapore, Taiwan, UAE, UK and the U.S.<\/p>\n

While India is positioned 13th<\/sup> among the 15 countries surveyed, Egypt with $16,863 followed by France with $16,708 are at the bottom of the list.<\/p>\n

\u201cIn today\u2019s competitive global job market, education is important. Parents appreciate this and are willing to invest time and money to help their children get the best start in life. Their support shows in the personal, lifestyle and financial sacrifices they are making,\u201d HSBC India Head, Retail Banking and Wealth Management, S. Ramakrishnan said.<\/p>\n

Further, the study said in India 89% parents are helping to fund their child\u2019s current stage of education.<\/p>\n

Over nine in 10 (94%) parents in India are considering post-graduate education for their child, and of these parents 79% expect to contribute towards funding that too, it said.<\/p>\n

\"\"<\/a>
A proud farmer looks at an iPad as his son hugs him.<\/figcaption><\/figure>\n

The majority of parents in India (87%) think completing a post-graduate degree is important for their child to get into full-time employment in their chosen occupation, fourth highest amongst all surveyed markets, it added.<\/p>\n

It also revealed that more than half (59%) of Indian parents are funding their child\u2019s education from their income, while 48% through general savings, investments or insurance and almost a third (30%) are funding through a specific education savings or investment plan.<\/p>\n

To help fund their child\u2019s education, many parents in India are making financial sacrifices, including reducing spend on leisure activities (44%), the study said.<\/p>\n

Almost a third (32%) have worked extra hours in their existing job for fund their child\u2019s education, second highest amongst all the surveyed markets, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"

An Indian student as she graduates college. Parents in India spend an average $18,909 towards their child\u2019s education from elementary school up to undergraduate level, much lower than the global average of $44,221, according to a study. \u201cParents in India are spending an average of $18,909 (compared with $44,221 worldwide) towards all aspects of their…<\/p>\n

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