HSBC has some good news for students who want to study abroad or online.
The bank’s latest report in their Value of Education series shows that 42 percent of parents would consider sending their children abroad for school—that’s up from 35 percent in 2016.
Parents in China, Hong Kong, India, Malaysia, Indonesia and the United Arab Emirates were most likely to consider sending their children abroad for college.
In the UK, Australia, and France, only 17 percent to 22 percent of all parents showed an interest in international study. For American parents, that figure was 36 percent.
The US is still a favored destination among international parents.
In an article in The Financial, Rajika Bhandari, Head of Research, Policy and Practice at IIE said, “With an intake of over one million, the USA has a strong track record of attracting international students who recognize that a higher education received there is a valuable personal and professional investment. They particularly appreciate the importance of critical thinking as well as the broad range of available resources and the wide variety activities beyond academics offered by America’s more than 4,000 higher education institutions. Additionally, specific programs are offered to international students so they can gain work experience and ultimately develop their employability skills.”
Interesting tidbit? International parents expect tuition at US schools to be $11,000 a year or less. The reality? Tuition costs closer to an average of $33,000 per year.
The study had more good news for those thinking about online studies. Sixty percent of parents said that they were open to their children completing some or all of their degree online.
HSBC surveyed over 8,000 parents from 15 countries and territories. It also showed that student mobility is on the rise, with 4.6 million students studying abroad for higher education in 2017, compared with just 2.1 million in 2001.
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