Malaysian school kids (Source:Internet) Kuala Lumpur (VNA) – Malaysia is among the list of nations that parents spend much of their income on education for their children, according to a survey conducted in 15 countries worldwide by the HSBC Bank.
The survey indicated that more than 50 percent of Malaysian parents are willing to go into debt to fund their child's education. 80 percent of them are funding their child's education from day-to-day income.
Lim Eng Seong, an official of the HSBC Bank in Malaysia, said 92 percent of local parents are funding their child's education at their own sacrifices and the risk of financial security, compared to 60 percent at the global level.
Lim said parents in Malaysia spend about 10-15 percent of their salary on their child’s education.
They pay out an average of 8,720 USD each year for their child’s university education, about 14 percent higher than global regular rate.-VNA
