Considering to send your child to study abroad? What else does one need to consider?

No matter how old is your child, a parent’s list of worries are endless and child’s education is always on list. Besides local universities, many parents are preparing to send their children to study abroad. This will offer them the exposure of a western education and culture, further developing their independence and skillsets. However, what does that preparation actually mean? What is the annual tuition and living expenses? What else does one need to consider?

Have a discussion with your child

It is important to understand your children’s aspirations and interests, and place them in an environment that complements their abilities. Aligning these items will allow your child to have a happy start for studying abroad.

Overseas university entry requirements

Admission requirements for universities vary from country to country. Some will recognize the results of the Hong Kong public examinations, while others will require a designation from public examinations such as IELTS, TOEFL, SAT, ACT, etc. Supplementary documents such as letters of recommendation or proof of financial ability may also be needed.

In terms of scores, some colleges or disciplines require DSE average scores of "4" or above, or IELTS scores of 6.0 or above. Prestigious universities such as Oxford, Cambridge will even require IELTS scores of 7.0. Should your children’s public test results fail to meet these standards, they can alternatively enroll in a community college or university prerequisite class for a period of two years, and then progress to year one of undergraduate degree if certain requirement is met.

Application Procedures

It is important to note that certain Universities require application a year before the school term commences. This can be completed via post or the Internet. Enrolling in a bachelor's degree at a UK university can be applied through UCAS. Student visa application begins with the immigration office once you receive the confirmation of admission.

Tuition and expenses

Actual expenses will vary depending on the cities and universities that you choose. Cost of living will also fluctuate depending on the proximity to the campus.

Average annual expenditure for overseas bachelor degree programs
Country	Tuition	Living expenses (Housing, Meals, Transportation)	Total
USA	HK$196,200 (USD25,000)	HK$117,700 (USD15,000)	HK$313,900 (USD40,000)
UK	HK$210,000 (GBP20,000)	HK$126,000 (GBP12,000)	HK$336,000 (GBP32,000)
Canada	HK$102,600 (CAD17,000)	HK$72,400 (CAD12,000)	HK$175,000 (CAD29,000)
Australia	HK$143,400 (AUD24,000)	HK$121,900 (AUD20,400)	HK$265,300 (AUD44,400)

Average annual expenditure for overseas bachelor degree programs
Country	USA
Tuition	HK$196,200 (USD25,000)
Living expenses (Housing, Meals, Transportation)	HK$117,700 (USD15,000)
Total	HK$313,900 (USD40,000)

Country	UK
Tuition	HK$210,000 (GBP20,000)
Living expenses (Housing, Meals, Transportation)	HK$126,000 (GBP12,000)
Total	HK$336,000 (GBP32,000)

Country	Canada
Tuition	HK$102,600 (CAD17,000)
Living expenses (Housing, Meals, Transportation)	HK$72,400 (CAD12,000)
Total	HK$175,000 (CAD29,000)

Country	Australia
Tuition	HK$143,400 (AUD24,000)
Living expenses (Housing, Meals, Transportation)	HK$121,900 (AUD20,400)
Total	HK$265,300 (AUD44,400)

Financial assistance

Needless to say, studying abroad involves a big investment. A three to four year program will require close to a million dollars. If financing does prove to be difficult, it is possible to consider other means for education funding. For example, HSBC's Personal Instalment Loan provides loan amount up to 12 times the monthly salary or HK$1,500,000 (whichever is lower). The maximum 60-month repayment period offers you a comfortable repayment schedule while covering tuition costs and living expenses. Redraw the repaid loan any time without re-applying is also available in case additional funds is needed.

Supplementary information of overseas study

Studying abroad is not a simple decision, other than visiting universities official websites for more details, you can get additional information from some of the public and private resources, like Education Bureau and Hong Kong Education & Career Expo.

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