George, an 18-year old, has done well enough in his high examinations to secure a place in the local university but not in the faculty of his choice. He is keen on studying law in University. His parents are thinking of sending him abroad to study help achieve his dream. They are prepared to sell their property to finance his overseas education.
What are the factors one needs to consider to his parents need to consider before they take the plunge and invest in their son’s overseas education?
Personal interests and aptitude of the child
Consider your child’s strengths and aptitudes carefully before you push him into your dream course. It is important that your child does not make this decision simply to fulfill your wish or to be with his friends or to taste freedom. It is a significant investment that requires your child ‘s fullest commitment. Identify interests and skills and be realistic with your child’s options.
Do a background check on the shortlisted list of colleges
Once your child decided on what he wants to study, work with him to shortlist a list of universities he can qualify for. Research on these universities and check if they are recognized in your home country.
A few sites for checking out schools
You may also like to call up or email present students in the university to find out more about the school.
Do your sums
Besides the tuition fees, you have to consider other expenses such as food, accommodation, travel costs, air tickets and books. Little things do add up so make sure you do your sums carefully.
Scholarship and Financial Aid
Some scholarships funds can come in handy to defray cost of textbooks and learning materials. Check out with individual universities on what schemes are available and apply for them early. Find out what scholarships, financial aid and part time work is available on campus.
The cost of overseas education including tuition fees and living expenses can range between USD140, 000 to USD 400, 000. It depends on cost, type of degree and the country that is chosen.
Let us list out the estimated costs for some of the more popular overseas destinations.
The United Kingdom
The UK consist of all countries England, Scotland, Wales and Northern Ireland. UK qualifications are both respected and recognized throughout the world and is a popular destination for students.
Here are the estimated tuition fees for studying in the UK
Science/ Engineering: USD 11,000 to 14,000 per year
Arts/ Business: USD 11,000 to 19,000 per year
The United States
The United States has one of the world’s largest overseas students population. This is not surprising at all just by looking at some of the highly ranked top US colleges.
Education in the US definitely does not come cheap!
Here are the estimated yearly tuition fees for studying in the US
Public government colleges and universities: USD 7,000 to USD 30,000 per year
Private colleges and universities: USD 11,000 to USD 37,000 per year.
A good site to visit to read up more about US universities would be USA gov.
Canada is a popular choice among students due to its high quality education, affordable tuition fees and living costs.
Here are the estimated tuition fees for studying in Canada
Science/ Engineering: USD 9,000 to 21,000 per year
Arts/ Business: USD 9,000 to 21,000 per year