Education Cost: THEN vs NOW/HERE vs THERE

Singapore has one of the most effective and popular education systems in the world. Due to this reason, tuition cost has to keep increasing to keep up our standard of education system.

Parents always wish to provide their children with the best education that they could possibly afford. In this series, we will share with you the cost of education in different parts of the world (popular countries with famous universities). We will also showcase how much cost of education has changed in the last 10 over years in Singapore. This is to give new parents a better view of what to expect or need to prepare when their children reach the age for university education.

However, the cost indicated below is only for the course fee. As we all know, when one studies overseas, we have to factor in daily expenses and accommodation cost.

Sources
¹http://www.nus.edu.sg/registrar/administrative-policies-procedures/undergraduate/undergraduate-fees
https://www.ntu.edu.sg/NSS/NSSFinance/FeesTuitionGrant/Pages/TuitionFees.aspx
https://www.smu.edu.sg/about/financial/tuition-fees
https://sutd.edu.sg/fees https://www.suss.edu.sg/courses/admissions/tuition-fees
http://www.singaporetech.edu.sg/sites/default/files/AY201718_Tuition_Fees.pdf
²https://www.topuniversities.com/student-info/student-finance/how-much-does-it-cost-study-australia
³https://www.topuniversities.com/student-info/student-finance/how-much-does-it-cost-study-uk
⁴https://www.topuniversities.com/student-info/student-finance/how-much-does-it-cost-study-us

Let’s look at the tuition cost within Singapore.

In a nutshell:

1. From 2000 to 2020, the cost of education has increased by 7%
2. Over the past 20years (2000 to 2020) the average annual education inflation rate in Singapore was 3%

The table below will give us a snapshot of the differences in price between some of the courses at different periods.

Sources
ValuePenguin