Tuition fees major concern for Bahrain parents: survey

TDT | Manama                                                                           

The Daily Tribune – www.newsofbahrain.com

Tuition fees for higher education is the leading concern for 61% of parents in Bahrain revealed a survey commissioned by Zurich International Life (Zurich), part of Zurich Insurance Group.

The survey further revealed that only a tenth of the parents surveyed have an education savings plan in place. According to the survey, 30% of families in Bahrain are digging deeper into their personal savings.

In comparison, 15% have resorted to taking personal loans. Conducted in partnership with research firm YouGov in July 2022, the survey covered over 1,500 GCC residents across the UAE, Saudi Arabia, Qatar, and Bahrain. It also included parents and married residents across various income groups, occupations, age groups, and gender.

“Our recent survey has unearthed interesting insights including the fact that a good 62% of parents in the GCC use their monthly income for school-related expenses while the majority of others rely on personal savings or loans,” said Rayner Britto, Head of Distribution at Zurich International Life.

Top concerns for parents in Bahrain

While tuition fees are the top concern for most Bahraini respondents, living expenses followed at 45%, and securing admission to an institute of their choice was an additional concern for 43%.

The survey findings showed that nine out of 10 couples in Bahrain set aside up to 40% of their monthly income to pay tuition fees, with the average annual cost of education among those surveyed in Bahrain amounting to BHD 6,370.

Confidence levels were not very high, with only 43% of Bahraini residents feeling “somewhat confident” that they will be in a position to support their children’s further education financially.

More parents in the region are investing in education savings plans to ensure they can adequately provide for their child's education. Among those parents that have invested in a savings plan, 22% said that they were mostly influenced by their social circles, while 10% were influenced by financial advisers.

When it comes to selecting a destination for their children’s higher education, 35% of Bahraini residents said they plan to send their children abroad, with around 9% hopeful of getting a scholarship.

Popular higher education destinations included the USA, Canada, UK, and India among others. However, the UAE still ranked as the top destination, with 35% of parents across the GCC choosing this as their preferred location.