Education Cost in the Philippines
How old are your children today? Are they still in their primary education? About to enter university? Have you given a thought of how much education prices are today? Have you been struggling to cope with the education annual price hike? Regardless of education cost in the Philippines, we all want our children to receive quality education to pave way for their brighter future. But education today is not cheap. Take a look at some brief projections of education prices today, and how much receiving quality education would cost you in the future.
How much would a formal college education cost in 10, 15, 20 years?
Education today is not cheap. With college tuition fees rising by an average of 12% annually, take a look at how much sending your future kids would cost you after 10, 15 or 20 years.
According to CHED, college tuition fees increases at an average of 1.25% annually.
The educational costs for the following schools in 2013 are listed as follow:
- De La Salle University – Php196,828
- Ateneo De Manila University – Php161,481
- University of Santo Tomas – Php80,304
- University of the Philippines – Php64,155
Come the year 2023 or in 10 years:
- De La Salle University – Php625,104
- Ateneo De Manila University – Php512,845
- University of Santo Tomas – Php255,037
- University of the Philippines – Php203,750
Challenges in coping up with rise of education prices
Not everyone can afford quality education because it gets more and more expensive every year with inflation. If you are currently struggling to cope up with tuition fees, take a look at these facts: Bank savings generate less than 1% interest annually. Time Deposit generates around 2-3%. Given the fact that your money earns so little interest, how would you be able to cope with tuition fees rising by 12% every year?