All three public universities (NUS, NTU and SMU) will raise the tuition fees for the new intakes of students starting in the next academic year. For both NTU and NUS, the annual fee will raise from $6100 to $6360. Fees for some faculties will be higher. The hostel fees will also be raised.
In 10 years' time, the annual fee for a local tertiary education is easily $10000. For a 4 years' course coupled with other misc fees, a $50000 bill will be a good estimate.
Parents,
Besides, saving for your retirement, have you also started saying the education fees for your precious children? There are quite a number of financial instruments available in the market for this purpose. The easiest and simplest method would be to buy an education plan for your precious. Other methods which may provide a higher return include investing in a suitable unit trust eg AIA Managed Portfolio which becomes conservative closer to withdrawing date.
Please feel free to call me for a non-obligation discussion.
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