The economic situation that won’t improve anytime soon due to the Covid-19 pandemic has made many parents consider finding financial solutions so that their children can still enjoy an education of international standards.
According to statistics, the budget for education accounts for nearly half of the total expenditure of Vietnamese families. Many parents are willing to send their children to study abroad or at international schools in the country.
On the other hand, the 2019 survey results of ExpatFinder on 688 international schools in 27 countries and territories show that international schools in Vietnam have an average tuition fee for the 2018-2019 school year of 17,941 USD/year. (about 420 million VND/year). This tuition fee is ranked 13th in the world and 4th in Asia, after China, Singapore and Hong Kong.
However, the widespread and prolonged crisis caused by the Covid-19 pandemic has caused many businesses to struggle and negatively impacted the lives of many families. Therefore, parents are forced to recalculate their school choice and financial planning for their children’s education. More than anyone else, parents also understand that investing in education is a worthy investment for their children’s future.
At any time, parents need to develop a financial plan for their children’s educational journey. Without this foundation, they may be at a disadvantage with their long-term goals of studying in an international environment.
At the same time, in order to share difficulties with parents during a prolonged pandemic, international schools have launched many programs to support tuition fees or investment in education. It is essential that we have an education savings package, taking into account family economic conditions while still ensuring children’s study in an international environment.
Experts predict that the economy will need at least 3 years to recover after the pandemic ends. Therefore, 2021 is the pivotal year for parents’ important decisions regarding their children’s education. While some people are hesitant to invest in long-term education, many parents have boldly built the foundation for their children’s future.