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Building Wealth The price of knowledge: unpacking the cost of education
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For many families, securing a degree from a prestigious university in the United States, Canada, the United Kingdom or Australia remains a long-term aspiration. An international qualification not only strengthens academic credentials but also builds the skills and confidence needed to thrive in a competitive global job market.
In fact, the number of students pursuing higher education has more than doubled in the past 20 years, surpassing 254 million worldwide—and continues to rise, according to United Nations Educational, Scientific and Cultural Organization (UNESCO). However, a world-class education comes at a significant cost. Below is a snapshot of average tuition fees in popular international study destinations:
| Country | International tuition fees | Local tuition fees | Notes |
|---|---|---|---|
| United States | US$44,000–US$70,000 per year (public universities) | US$11,610 per year (state residents) | Fees vary widely by institution; source: College Board 2024 |
| United Kingdom | Up to £38,000 (approx. US$49,000) per year | £9,250 (approx. US$12,000) per year | International fees are substantially higher than local fees |
| Australia | AU$22,359 per year (public institutions) | AU$8,580 per year (private institutions) | Average costs for undergraduate studies |
| Canada | CA$30,697 per year (bachelor’s degree) | CA$20,876 per year (master’s programmes) | Tuition figures are based on public institutions |
Given these figures, it’s essential for parents in the UAE and wider region to begin planning early. Structured financial planning is key to ensuring children can access top global universities for undergraduate or postgraduate studies.
This highlights how time in the market matters more than timing the market.
Set a monthly savings and investment goal
Starting early—ideally from birth—enables you to invest in growth-oriented instruments. Popular options in the UAE include:
- Education savings plans
- Mutual funds and index funds
- Exchange-traded funds (ETFs)
- Government or corporate bonds
- Equities (stocks)
- Real estate investments
Each asset class carries a different risk-return profile. It’s important to consult a qualified financial advisorto build a diversified, goal-based portfolio aligned with your timeline and risk tolerance.
Stay consistent and disciplined
The earlier you start, the less you need to invest each month to reach your target. You can gradually increase contributions with salary increments, bonuses, or additional income streams such as rental income.
Set up a systematic investment plan (SIP)
SIPs involve investing a fixed amount at regular intervals in selected mutual funds or index funds. This strategy benefits from dollar-cost averaging, reducing exposure to market volatility over time.
Click here to learn more about SIPs.
Explore scholarships and alternative funding options
Many international universities offer scholarships, grants, and merit-based aid. Education loans may also be considered—though they should be assessed carefully due to interest costs.
World-class education, closer to home
International universities in the UAE now offer globally recognised degrees and career pathways, without the high costs associated with overseas study.
Institutions like New York University Abu Dhabi, Sorbonne University Abu Dhabi, and University of Birmingham Dubai offer programmes identical to their main campuses, delivered by expert faculty and backed by strong industry connections.
From a financial standpoint, studying locally eliminates:
- International relocation and living expenses
- Student visa fees
- Long-haul travel costs
Students also benefit from regional career opportunities, with easier access to employers across the Middle East, Asia, and Europe.
To learn more on how to save for higher education, click here.
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Did you know?Planning early makes education affordable
Knowledge quiz What is a smart way to invest for education?
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