The Price of Education

Higher education is one of the major outgoing costs in anyone’s life other than purchasing a house. Education expenses are quite different around the world.

In the US on an average a family spends about $685 on a child's back to back necessities from the time the child is in kindergarten up to secondary school. There also has been an increase of about $250 since 2005.According to statistics it will work out to a whooping 27.5 billion for the year 2018. If this is combined with the expenses for university, the number surges up to $83 billion. The most expensive of all the expenses is the computers and an average American household spends around @299 on computers. The next expenses to follow are Clothes, binders. Folders, books, highlighters and many other items that are required, and these expenses are on the rise.

Out of the 33 developed nations, the primary students of Russia spend just over 500 instructional hours per year, while the international average is that of 800 hours a year. While in Denmark primary school students spend about 1000 hours an year in class. Denmark also has consistently ranked amongst top 5 for education.

Hong Kong is yet another expensive place when it comes to education; with families shelling out more than 100,000 in total cost from primary up to undergraduate school. Even after scholarships parents in Hong Kong contribute an average of $131,161 out of their pockets. Close to its heels is United Arab Emirates spending about $99,000.Singapore at $71,000.While France is the cheapest at $13,654 and In Germany undergraduate tuition fees for both domestic and International students is completely free.

FAQ

What is the cost of education?

Although tuition, books, and other costs are included in the cost of education, the opportunities and lifelong skills it offers are what really make it worthwhile.

Which is the value of education?

Education is valuable because it helps people develop their knowledge, abilities, and character, which enables them to succeed and make contributions to society.

Why is education so costly in India?

Infrastructure costs, quality faculty, rising tuition fees, and the growing demand for advanced learning facilities make education in India expensive.

 

By: Madhuchanda Saxena

Content: http://www.bbc.com/future/story/20180829-where-is-the-most-expensive-country-to-go-to-school