Parents
know that education is a crucial enabler in the modern world which
may give their children skills that are essential in later life. Knowing
its importance, HSBC Group commissioned a global survey across 15
countries themed
“The Value of Education” to canvass the hopes and aspirations of parents with regards to the education of their children.
This
infographic is a summary of some of the key findings and we hope it
will enable you to better understand public sentiments regarding
education and the practical steps you may want to take when planning for
this rewarding and life-changing path for your child. Here goes!
When
it comes to education, Malaysian parents’ expectations are
always changing as their children progress through the education system.
1. “So where to go for a good education– public or private?”
But fewer than one in five parents are open to funding a private primary or secondary education.
2. Where would they like their children to study?
Almost
half (45%) of parents in Malaysia believe that Malaysia has a better
quality education system than the best available abroad.
Countries perceived to offer the highest quality education by Malaysian parents
3. When would Malaysian parents send their children abroad? At what age?
37% At Secondary school age.
37% At
University age, 88% of Malaysian parents would consider sending their
child abroad to study at university stage. This is higher than the
global average of 74%.
4. What do Malaysian parents hope their children gain from an overseas education?
62% Breadth of experience
58% Children gaining more independence
54% Foreign language skills
51% International experience
5. Tertiary education is an aspiration for their children
98% of
Malaysian parents aspire for their child to go to university while 91%
of Malaysian parents would like their child to study at a postgraduate
level.
6. How will Malaysian parents make that aspiration come true?
85% draw on savings
54% rely on current income
51% draw on a specific education plan
7. Four in five (79%) parents who didn’t go to university want their children to go to university
8.
Nearly two-thirds (64%) believe that paying for their child’s education
is the best investment they can make. Most parents expect to fund their
child’s education themselves via various means. Despite this, in
Malaysia, more than four in five (84%) parents wish they have started to
plan and save earlier for their child’s education.
It’s not too late. Start now to plan for your children’s education.
Source : HSBC.com.my
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