Dubai: For many families, education has been the largest part of total expenses for raising children, and costs tend to shoot up during college years.
Overall consumer expenditure on education in the UAE has been steadily rising, from $1.83 million (Dh6.7 million) in 2005 to $3.4 million in 2010, according to data released by Euromonitor International.
Compared to other GCC countries, UAE consumers were the second biggest spender in 2010, trailing behind Saudi Arabia ($5.2 million). Qatar didn't spend as much, registering only $1.5 million. Kuwait residents spent a little over $1 million and Bahrain spent the least at only $277,000.
Euromonitor data also showed that university fees have been on the rise in the UAE, with many amounting to Dh50,000 annually. In 2009 alone, some schools increased their fees by 12 to 20 per cent. "Some of the more drastic increase in fees reflected the rate of inflation and the effects of the recession," Euromonitor said in a report.
At the moment, a bachelor undergraduate degree in Dubai can cost anywhere between Dh24,000 and Dh66,000 a year. Parents who want their child to get a degree in medicine will need Dh80,000 a year. Some schools don't include book and laboratory expenses in the tuition, so parents will have to shoulder the additional costs. Those who opt for student housing may need to set aside Dh8,500 to Dh12,500 per semester.
Families who are planning to send their children overseas will need an average of Dh179,000 a year to cover the cost of a full-time university course plus living expenses. According to Candour Consultancy, the average annual cost of study abroad will amount to approximately Dh155,000 at a UK university and Dh165,000 at a US university. The figures, based on a-year-ago rates, include tuition, living costs, books and other expenses.
