U.S. top choice for sending children abroad for college
HSBC’s The Value of Education Foundations for the future report reveals the United States is the most popular choice from a list of 50 countries. The UK and Australia ranked as the second and third choices for an education abroad.
The majority of parents (59%), when asked to select the one reason to best explain why the United States is their top choice, say it is because of the better quality of education, while 29% say it is for the job prospects.
Parents from China (12%), the UAE (12%) and India (10%) made up the largest proportion of individuals who prefer the U.S.
Despite its popularity, the U.S. is also the most expensive destination, with average annual tuition fees at $33,215 per year. More than two in five (42%) parents cite higher tuition costs as the most significant barrier to sending a child to college in the United States.
Over a third (35%) of parents around the world would consider an international university education for their child. Ambitions for an international education are the highest among parents in Indonesia (60%), the UAE (58%), Hong Kong (54%), India (47%) and China (44%).
Countries where parents are the least likely to consider sending their child to college abroad are Egypt (10%), Australia and France (both 16%). American parents interested in sending their children abroad for a college education fall below the global average (29%). ■