A recent survey conducted by Zurich Insurance reveals a startling reality for UAE parents: they anticipate spending an average of AED 600,000 on their children’s higher education. This figure underscores the significant financial burden associated with pursuing tertiary education, especially in a region known for its high-quality institutions.

The survey, which polled 1,000 parents across the UAE, found that the majority are aware of the escalating costs of education and are actively saving for their children’s future. While many parents are confident in their ability to meet these expenses, there is a significant portion who express concern about the financial pressure.

These concerns are well-founded, considering that the average cost of tuition and living expenses at top universities worldwide can range from AED 150,000 to AED 300,000 per year. Add to this the cost of accommodation, travel, and other incidentals, and the total expenditure can easily reach the AED 600,000 mark, as the survey suggests.

The study highlights the need for comprehensive financial planning, particularly when it comes to education. Parents are advised to start saving early, explore different funding options like scholarships and educational loans, and consider the long-term financial implications of their choices.

This revelation also calls for a renewed focus on affordability and accessibility in higher education. The government, universities, and private institutions all have a role to play in ensuring that education remains attainable for all, regardless of their financial background.