Education savings plans in Thailand

13 Aug 2019

Education costs across the globe have been on the rise for years, and this trend is not set to shift any time soon. However, the significance of education has not diminished in the slightest.

University and private school fees are expensive and saving for this is the primary goal of an Education Savings plan. 

For many expats living in Thailand, the only option is to make use of private international schools that have UK , AUS or US based English tuition. Private school fees are generally costly and not everyone can afford them. 

Also, by being overseas, your children may no longer qualify for university tuition or subsidies in your home country and could be considered international students. This might result in more expensive university fees.

Average fees of private schools and universities

NIST International school

Regents International

Bangkok Patana school

Elementary school

Elementary school

Elementary school

680 000 THB (£17 600) p.a 643000 THB (£16 654) p.a

611 000 THB (£15 877) p.a.

High school 900 000 THB  

High school 655 000 THB

High school 820 000 THB

(£23 310) p.a. (£16 965) p.a. (£21 238) p.a.

Many expats in South East Asia prefer to send their children to universities in Australia, NZ, US and UK.

Universities in US

Universities in Australia

Universities in NZ

Universities in UK

$35 000 - $57 000 (£28 004 - £45 642) for a bachelor’s degree p.a. £13 500 for a bachelor’s degree up to £45 279 for medicine p.a. £13 500 for a bachelor’s degree up to £ 45 000 for medicine p.a. £24 650 – £34 300 for a bachelor’s degree p.a. (international student)

 

Remember that there are costs other than just tuition fees that need to be considered. 

Costs could include:

  • Tuition fees

  • Admin/registration fees

  • Textbooks

  • Stationary

  • Accommodation and living expenses

  • Equipment

  • Membership to societies or sports clubs

  • Travel to school and back (international or local)

Average living expenses in cities

Sydney

New York

London

Auckland
1900 Aus dollars $2 000 £1 000 2000 NZ dollars

 

You also need to take into consideration that costs could double if you have two or more children.

The more affluent individuals should not be quick to judge saving for education fees. Expat packages abroad are usually very generous, but private school and university fees could eat up disposable income every month and leave very little left for savings or luxuries.

Contributing to an Education Savings Plan when your children are still infants, could help cover these private school and university fees whilst you are abroad.

“An investment in knowledge pays the best interest.” –  Benjamin Franklin

Broadgate Education Savings Plans

Through cautious financial planning, time management as well as dependable financial advice, arrangements can be made that will not consume all your disposable income but, will give you the peace of mind you want for the future of your children.

The earlier you start saving, the more your savings will grow, and you can guarantee your children the best gift you could ever give them, an education, whether it covers private tuition or university education.

Speak to your Broadgate adviser today to assist in finding the right Education Savings Plan that suits your situation.  [email protected]