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Failure to plan for overseas studies can deplete retirement savings of S’pore parents by 30%: HSBC
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According to the HSBC study, a three-or four-year degree programme in popular overseas study destinations - the US, UK, Australia and Canada - can cost between US$192,000 (S$260,230) and US$256,000 per child.
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SINGAPORE – Sending a child overseas for an education could wipe out as much as 30 per cent of parents’ retirement savings, so careful planning is needed, noted a new study by HSBC.
It found that a three- or four-year degree programme in popular overseas study destinations like Britain, the United States, Australia and Canada can cost between US$192,000 (S$260,000) and US$256,000.
