Aussie Expats In Dubai To Pay Up for Education

Aussie Expats In Dubai To Pay Up for Education
Aussie expat in Dubai

Aussie Expats In Dubai To Pay Up for Education

 

21/08/2017 – In research conducted by international insurance company, Zurich, it has been released that expats, including Aussie expats in Dubai, could be required to spend up to AED1 million (AUD$343,000) to put one child through the education system, from pre-school through to university. The figures have been calculated based on 2 years at pre-school, 6 years at a primary school, 6 years at a secondary school and 3 years at a UK university. With Australian universities generally considered to be more expensive than UK universities the above number could be even higher for Australian expats.

For Aussie expats in Dubai (and the UAE for that matter) putting their children just through pre school, primary and secondary education could be expected to pay up to AED528,486 (AUD$181,000) according to Zurich which is a slight increase on last years figures when they conducted the same research. Should you choose to send your children to a top tier school then this number maybe up to 40% higher.

No matter where you are based in the world, whether its in Australia or overseas, the cost of providing education for your children is increasing and the importance of putting money aside to fund this is becoming incredibly important. For those Australian expats who don’t want to be scrambling to pay for their first school fee invoice it is important to start planning early to ensure you have enough put aside to fund what could be one of your largest expenses.

And don’t forget, education is an expense that could last for 17 years (or longer if you have more than one child) so the earlier you start the less of a worry it will be down the track. There is no better investment that you can give to a child than an education which enables them to do their best and achieve their dreams.

Please feel free to contact us to discuss the options available to you.

 

 

Brett Evans is the Managing Director and a Financial Planner with Atlas Wealth Management which is the first financial services firm in Australia to specialise in providing financial advice to Australian expatriates. With over 20 years of experience in the finance and investments industry, Brett has worked for blue chip companies which include the Australian Stock Exchange (ASX), HSBC, Suncorp and Citi Smith Barney.

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