5 Things To Consider About Sending Your Child To An International School
Did you know? Over the past five years, the international school market in Malaysia has almost doubled.
This despite the fact that the registration fees in international schools can reach over 100,000 RM each year.
In fact, over 20% of international schools in Southeast Asia are located in Malaysia, which has seen the international school market grow by 44% since 2015.
According to the education market intelligence group ISC Research, there are now 87 international schools in Malaysia which teach a total of 107,100 children. While most of the students enrolled in these schools come from expatriate families, up to 45% of enrollments in these schools are made up of Malaysian students.
Parents who are parents will always want the best for their children. So if international school education is an initiative you are considering, here is what you need to know and do to prepare.
1) How much does it really cost?
We already know that the tuition fees at these establishments are no joke and that parents can expect to shell out up to RM 100,000 per year (depending on school and location) just to keep their child on track. primary or secondary education in an international school.
So, if you decide that international school education is the best choice for your child, you need to be willing and able to shoulder a large expense for a good number of years without compromising your other financial goals, like retirement.
Remember, as with everything else, fees for private and international schools increase over the years. You may even have to make sacrifices, like moving to a smaller house or not spending as much of a vacation, although for a growing number of Malaysian parents, those sacrifices are worth it if it means being able to afford a better quality education for their children. kids.
According to a report provided by the Ministry of Education in 2019, 84,079 students are enrolled in schools classified as “ expatriate ” and “ international ” in Malaysia.
2) plan early
For many parents, international school education is a huge commitment and a huge expense, so it goes without saying that the sooner you start planning, the better.
For example, most international schools charge a one-time enrollment that could cost parents an additional RM 25,000 or more, and that’s an amount you will likely have to fork out up front.
Also, it is not uncommon for schools to require some form of financial commitment, such as an acceptance deposit, so it will be wise to start planning as early as possible, perhaps even from birth.
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3) consider the extras
Paying for an international school education involves more than just tuition fees.
To get started, you’ll need to get some school uniforms for your child, and these will often need to be specially tailored or can only be purchased with the school.
You should also factor in the cost of sports, school trips, refresher courses, and extracurricular activities which will likely cost several times as much as in public schools.
4) think about future children
Some parents quickly make the decision to send their first child to an international school, then come number two and three, and suddenly they’re stuck.
To avoid ending up in this scenario, proper family planning and budgeting is important so that you do not find yourself in a difficult situation in the future.
With the cost of living rising, it’s never too early to start budgeting for your child, with things ranging from daily expenses to planning for college, so you can be financially prepared.
5) Compare the discount rates
We already know that international school education costs a bomb, which makes it even more important for parents to find ways to save a few dollars on tuition. To this end, parents will first need to do some research to find and compare the special rates and discounts offered by these schools.
Some international schools offer “reduction for siblings or family” rates. With the reduction, families enrolling more than two children in these schools will benefit from a reduction of 5% on the tuition fees for the second sibling and of 10% for the third.
You may be able to get additional discounts for early registration or take advantage of discounts offered for registration at the school’s international fairs.
Lastly, remember not to outdo yourself if you simply cannot afford to send your child to an international school without going into debt or compromising other important financial goals.
While attending an international school can give your child a good start in life, it doesn’t guarantee a successful life.
One way to better manage your fund is to consider transitioning your child to an international school later, such as during their high school years, so you don’t have to spend so much. Sending your child to school is another good alternative that won’t break the bank.
Whatever your options, be sure to pick one that is both practical and durable for you and your child (ren) in the larger picture of things.
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