Majority of Malaysian parents would consider oversea tertiary education for their children.
The latest HSBC’s Value of Education report found 88% of Malaysian parents are considering sending their child overseas for their tertiary education, which is higher than the global average of 77%.
Looking for ways to grow your child’s education savings? Find out how much returns you can potentially get through unit trust investments.
Parents were willing to fork out more for a university education abroad, said Lim Eng Seong, head of HSBC Malaysia Retail Banking and Wealth Management (RBWM).
“Parents are willing to make sacrifices to fund their children’s education but there is often a gap between expectation and reality,” he said at the launch of HSBC’s Value of Education report.
Parents saw foreign education as a stepping stone to better job opportunities, international exposure and making new friends.
The global report is the second in the “Value of Education” series and represents the views of 5,550 parents from 16 countries and territories.
The findings in the Malaysian report are based on a nationally representative survey of 350 parents with at least one child aged 23 or younger currently (or soon to be) in education.
The parents are either solely or partially responsible for making education-related decisions for their child.
The research was carried out online by Ipsos MORI in March and April, and commissioned by HSBC.