13 Jun '11, 4am

IM$avvy Headlines: As easy as ABC #planning #children #education

For most parents, the big-ticket spending item is usually their children's education once the family's housing needs have been taken care of. This daunting expense, spread out over the school-going years, includes tuition classes and finally, the king hit: tertiary education. The figure balloons if the child pursues his studies overseas, partly due to unsubsidised varsity tuition fees and higher living expenses. OCBC Bank estimates the cost of a four-year, non-medical degree in a local university today for a Singaporean to be $105,800, including tuition and living expenses. The same degree obtained at a private university in the United States would cost about $395,700 - nearly four times the local figure. Ms Chng Bee Leng, head of mass segment Singapore at OCBC, cautions that costs will spiral. For instance, in 21 years' time, a four-year, non-medical degree at a local uni...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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