MANY parents regard a private education abroad as being one of the greatest gifts they can bestow on their children - but at what cost? Figures from the UK's Independent School Information Service (ISIS) show that in 1992, at the senior level, girls' day schools cost from GBP1,000 (HK$11,700) to GBP2,000 a term while boarders paid from GBP2,100 to GBP3,500. Boys schools tended to be more expensive, with fees ranging up to GBP2,600 per term for day boys, and GBP3,700 for boarders.
According to figures from Sun Life, which take inflation into account, educating a child born in 1992 at UK independent schools from the ages of seven to 18 would cumulatively cost a staggering GBP310,000.
The picture is not a great deal rosier in other favoured countries. A good Australian boarding school will set you back well over US$8,000 (HK$62,000) a year while a senior high school education in the US or Canada could cost almost US$12,000 a year.
In addition, annual university costs, including lodging, can easily exceed US$20,000 per child and grants, scholarships and bursaries do not fall off the proverbial trees these days.
On top of the education costs are a veritable plethora of additional costs.
Given the costs involved, there are few people who can rely on putting their hands in their pockets at the appropriate time.
