Education Planning: Choosing the Best School
Many new parents are clueless as to how much is really needed for sending off their child to school in the future because of the notion, “I’ll just cross the bridge when I get there.” Though it is true that new parents should enjoy the joys of having their newborn baby, education planning is essential to ensure the child’s future as early as possible.
In our work with new parents, we help them prepare for any of the following possible options for their child’s education.
Learn about these options as much as you can so you can say you have prepared sufficiently when the appropriate time comes.
When you think of education, you do not choose just one from elementary, secondary or tertiary levels. As a responsible parent, you would have to plan for the entire period. Even if your child is able to get into a scholarship, it is still best that you prepared for the complete cost of everything.
In the Philippines’ National Capital Region (NCR) alone, here are the statistics:
7,745 private elementary schools registered with the Department of Education for academic year 2012-2013;
428,981 enrollees for Kinder students;
1,236,365 enrollees for Elementary students;
5,130 Private Secondary Schools, with a total of 1,408,317 enrollees
336 options for colleges and universities
(Source: DepEd, Ched)
These numbers can be overwhelming if you try to dissect them on your own trying to find the best school for your child. Check out the necessary basics such as tuition fees, location, facilities, and most especially their programs and teaching styles before you sign up your child.
In a survey about the Annual Undergraduate Tuition Fees at the World’s Top Universities by topuniversities.com, it was reported that the most expensive school in the whole world for the Academic Year 2012-2013 is University of Chicago, with a $45,324 tuition fee. This does not include all the other expenses to be considered with living abroad such as housing and fund for daily needs.
Here is how the other well-known schools rank in that survey:
Princeton University – $ 40,170
Yale University – $ 43,100
Stanford University – $ 42,690
Harvard University – $ 38,891
MIT / Massachusetts Institute of Technology – $ 36,000
When considering to send your child abroad to study, do your due diligence of knowing the costs abroad just like knowing the costs locally. Be prepared though to inflate your budget not just twice but way more than the local cost estimate. Understand that the global market is a lot different from where you and your child are right now and a lot of factors play into consideration.