INFOGRAPHIC: The Cost of Education in the Philippines and How to Prepare Financially

Published: March 13, 2015 | Updated: July 20, 2020 | Posted by: Moneymax | Lifestyle

The Cost of Education in the Philippines
Do you have children? Are you planning to start a family?

As any overworked parent will tell you, raising a little boy or girl is no picnic. And of course, one of the most expensive parts of raising a kid is sending them to school.

With at least twelve years of formal education in your child’s future, you are in for a rough ride as far as your money situation goes. This goes double (or triple, or quadruple…) if you have more than one child. Years of tuition fees add up, especially if you make the commitment to send your son or daughter to a good – read: expensive – private school. And that’s not counting other miscellaneous expenses such as your child’s textbooks, uniforms, everyday supplies, projects, field trips, and more.

As if that weren’t enough, paying for the most basic education is, in fact, a piece of cake compared to the biggest money sink of them all: college. Like millions of other parents out there, you may subscribe to the belief that a college education is a surefire way to guarantee your child’s career. And what parent doesn’t want to see their child succeed in life?

If you want your finances to weather your kid’s college years and beyond, you’d need to come up with an effective strategy for saving and spending your regular income. One option is to get a personal loan to pay for tuition, in which case you can use to shop around for one with affordable terms.

If you want to focus more on security than convenience, however, you can play the long game and save up for tuition over a span of several years. Here we look at how you can apply this approach to your own finances, given the cost of education in the Philippines.
The Cost of Education in the Philippines Infographic

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