10 days ago
Since Jacob Zuma’s shock announcement on free tertiary education, there’s been a considerable spike in queries about the cost of educating a child at an overseas university.
The Money Show’s Bruce Whitfield asked Galileo Capital Financial Advisor Warren Ingram to do the research.
Here's what Ingram found (fees only, not including any other costs):
University of Michigan and Brown University (United States) - R760 000 per year
Oxford University (UK) - R465 000 per year
Edinburgh University (UK) - R380 000 per year
Studying in Australia will set you back about R380 000 per year, in Canada it'll cost R470 000 per year, and in Singapore, you need around R180 000 per year.
You'll need to add approximately R220 000 per year for food, lodging, books and supplies to the above amounts, according to Ingram.
If you're investing for 13 years - assuming a return of 10% per year, and a stable exchange rate - that means you'll have to invest about R25 000 per month.
For more detail listen to the interview in the audio below.
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
This article first appeared on 702 : What it'll cost to educate your kid abroad (and how much you must save a month)
Mike has been studying towards a qualification in engineering. He has struggled paying for his tuition, leading to many delays.
102 days ago
The #KeepTheChange social media man Malcolm X says he is earning a decent living and is not involved in heists.
137 days ago
This Jozi photographer uses her camera as a form of social activism focusing predominantly on the #FeesMustFall student movement.
278 days ago