Almost 10yrs ago, when my mother sponsored me to go to NUS using her CPF money, a freshie like me would not have realize the importance of money until I grown up. I remembered my course fee was around $5,000/annum, now it has balloned up to $7,000+/annum.It's a fact, quality education in Singapore doesn't come cheap. Imagine you have a kid now, 1yr old, 20yrs down the road, just by going on a humble 3% rate of increment in course fee each year, the course fee would be $13k / annum. Multiply by a 4-year course, it would be $52k++. All these are excluding those admin fee, material fee, or even medical or law courses, or even overseas courses. Where would your child get all these money from? Your CPF, or loan from bank?
You can help reduce the burden of your child (or rather yourself), by going for a simple education plan which takes time to grow your asset in a slow, but conservative and steady manner. These are the kind of instruments you want to have low risk, and a form of guarantee to have at the end of the savings cycle. Imagine yourself saving consistently in a bank, bearing a miserable 0.125% / annum? Wait for the cow to come home.
For more information, pls do not hesitate to contact me at 9876-0237 for a more comprehensive understanding on how you plan for your kid's education.
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