HSBC report: Chinese parents start early on planning children’s overseas study
By China Watch |
World Economic Forum |
Updated: 2018-09-10 17:29
Nearly three-quarters (74 percent) of parents are funding their child’s education from day-to-day income, compared with less than a quarter (21 percent) through a specific education savings or investment plan, according to a report published last year by HSBC group, The Value of Education: Getting Higher and Higher.
According to a report by the official website of the World Economic Forum, the HSBC report shows that parents in China are the most financially prepared, with 55 percent funding their child’s education through general savings, investments or insurance, and 43 percent through a specific education savings plan. In contrast, less than one in 10 parents in the UK (5 percent) and Mexico (8 percent) are funding their child’s education through a specific education plan.
China is still the world's largest source of overseas students. The number of Chinese students studying abroad reached 608,000 in 2017, up 11.74 percent year-on-year, according to Chinese Ministry of Education.
Parents in different countries have different attitudes and practices when it comes to planning ahead for their children to study abroad.
Most parents across the world plan for their children’s education early and 63 percent of parents around the world pay extra fees apart from schooling tuition. Chinese parents top the list at 93 percent.
Nearly three-quarters (74 percent) of parents are funding their child’s education from day-to-day income, compared with less than a quarter (21 percent) through a specific education savings or investment plan, according to a report published last year by HSBC group, The Value of Education: Getting Higher and Higher.
According to a report by the official website of the World Economic Forum, the HSBC report shows that parents in China are the most financially prepared, with 55 percent funding their child’s education through general savings, investments or insurance, and 43 percent through a specific education savings plan. In contrast, less than one in 10 parents in the UK (5 percent) and Mexico (8 percent) are funding their child’s education through a specific education plan.
China is still the world's largest source of overseas students. The number of Chinese students studying abroad reached 608,000 in 2017, up 11.74 percent year-on-year, according to Chinese Ministry of Education.
Parents in different countries have different attitudes and practices when it comes to planning ahead for their children to study abroad.
Most parents across the world plan for their children’s education early and 63 percent of parents around the world pay extra fees apart from schooling tuition. Chinese parents top the list at 93 percent.
