{"id":267487,"date":"2018-08-27T12:18:48","date_gmt":"2018-08-27T10:18:48","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=267487"},"modified":"2018-08-27T12:18:48","modified_gmt":"2018-08-27T10:18:48","slug":"how-much-it-costs-to-study-at-oxford-and-other-top-overseas-universities","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/267487\/how-much-it-costs-to-study-at-oxford-and-other-top-overseas-universities\/","title":{"rendered":"How much it costs to study at Oxford and other top overseas universities"},"content":{"rendered":"

One of the factors cited by emigrating South Africans as a key reason behind their move is a perception that education levels in the country are declining – and wealth managers are starting to get more requests to calculate the cost of sending a child to university overseas.<\/p>\n

This is according to Charlene Prinsloo, a wealth manager at AlphaWealth, who has calculated that the cost for a South African parent to send their child to the UK in 2019 for tertiary education amounts to around R2.5 million.<\/p>\n

“If you have a young child, you will need upwards of R9 million by the time they are ready to go, and you will need to start saving about R17,000 a month immediately, escalating by 10% per annum on top of whatever you are saving to send your child to local private primary and high schools,” she said.<\/p>\n

Increasingly wealth managers are being asked about the costs of offshore education after matric by their high net worth clients, due to a perceived decline in educational standards in South Africa, Prinsloo said. “We investigated the costs and they are staggering,” she said.<\/p>\n

In South Africa, the average minimum cost of university tuition is around R35,000 per year. AlphWealth provided a breakdown of the minimum annual tuition fees in US dollars converted into rands for some top international universities.<\/p>\n

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Notably, these costs exclude additional expenses such as study materials, textbooks and cost of living for the student which varies according to destination and the course studied, the group said.<\/p>\n

Prinsloo further investigated how much a client would need to save to send their four year old to study at the University of Edinburgh, UK.<\/p>\n

She established that they would need to begin saving approximately R16,769 per month – escalating by 10% per annum – to have sufficient capital to cover the four year tuition and average cost of living in 14 years\u2019 time.<\/p>\n

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For parents who want to send their kids overseas for university, Prinsloo said they need a solid financial plan to achieve that goal. The group provided three tips to secure the finances:<\/p>\n

    \n
  1. Align your assets with your liabilities. As the liability in this case will be denominated in foreign currency it makes sense, to invest in foreign currency. This will protect the value of the investment should the Rand depreciate over the period.<\/li>\n
  2. Do your homework. Understand the budget required for your child to live comfortably and determine whether this is realistic. Many of the universities supply estimated tuition fees and cost of living for international students on their websites \u2013 this is a good base to work from.<\/li>\n
  3. Investigate scholarships. Most offshore universities and colleges offer scholarships which can ease some of the financial pressure for exceptional students if they qualify. These scholarships are difficult to get and the process of applying is somewhat tricky but there are organisations that can assist such as Crimson Education.<\/li>\n<\/ol>\n
    \n

    Read:\u00a0New university course to focus on land transformation in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    One of the factors cited by emigrating South Africans as a key reason behind their move is a perception that education levels in the country are declining – and wealth managers are starting to get more requests to calculate the cost of sending a child to university overseas.<\/p>\n","protected":false},"author":10,"featured_media":91104,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[9607,26],"class_list":["post-267487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-alphawealth","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/267487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=267487"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/267487\/revisions"}],"predecessor-version":[{"id":267537,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/267487\/revisions\/267537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/91104"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=267487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=267487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=267487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}