A recent global survey of parents with school- or university-aged children shows an increased awareness and openness to online learning.
The HSBC’s Value of Education report’s latest edition shared survey responses of 8,481 parents from 15 countries: Australia, Canada, China, Egypt, France, Hong Kong, India, Indonesia, Malaysia, Mexico, Singapore, Taiwan, UAE, UK, and the US.
The key finding? Parents spend an average of about $44,000 on their children’s education from primary school through undergraduate. An overwhelming majority—82 percent—are prepared to make personal sacrifices to help their children succeed. Nearly 90 percent reported helping their children financially with school.
While many parents see a university education as the key to opportunity, cost is a factor.
That’s where online studies come in. The HSBC survey reported that 73 percent of parents are aware of the growth of online university programs, and 60 percent would consider a full or partial online program to save money on the costs associated with college.
Specifically, 30 percent of those parents said that they would consider an online degree if the costs were at least 50 percent less than that of a traditional, on-campus program.
HSBC’s Group Head of Wealth Management Charlie Nunn said, “In today’s highly competitive global job market, education for young people has never been more important. Parents across the world appreciate this and are willing to invest time and money to help their children get the best start in life. Their unwavering support shows in the personal, lifestyle and financial sacrifices they are making. From forfeiting ‘me time’ to giving up hobbies or reducing leisure activities, parents are going the extra mile to help their child succeed.”
Online learning adds another dimension to the opportunities available to students—and to parents.
Learn more about online studies.
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