28 Apr '14, 6am

Many fail to plan for kids’ varsity fees, poll shows

Singaporean parents are keen for their children to get a good university education but not enough actually do the financial planning to make it happen, according to an HSBC survey. It found that 92 per cent of parents polled expect their children to get an undergraduate degree and 53 per cent believe that paying for it is the best investment they can make. However, almost 37 per cent said they were daunted by the prospect of making decisions about their children's education, and 49 per cent wished they had planned and saved earlier. The survey also found that only 17 per cent of parents pay fees with investment returns while most rely on their incomes and savings. Some parents told The Sunday Times that they still place a high priority on education despite the rising costs. Madam Janet Ng, 49, who has two children, said: "My husband and I told our children very clearly tha...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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