scientific edition of Bauman MSTU
SCIENCE & EDUCATION
Bauman Moscow State Technical University. El № FS 77 - 48211. ISSN 1994-0408
SINGAPORE: Cost of University Degree Set to Soar
# 05, May 2016
The cost of a university degree in Singapore is set to rise, according to a new study by the Economist Intelligence Unit (EIU).
Released yesterday, the study projected that a four-year degree will cost 70.2 per cent of an individual's average yearly income in 2030, up from 53.1 per cent in 2015.
Since 2010, tuition fees at local universities have gone up every year for most undergraduate courses, mainly due to rising operating costs.
For instance, a local undergraduate entering the National University of Singapore's faculty of arts and social science this academic year (2016) would pay $8,050 annually, up from $7,950 last year (2015).
Another projection showed that Singapore's education spending will dip from 3.4 per cent of gross domestic product last year to 2.7 per cent in 2030, largely due to falling birth cohort sizes and a growing population aged over 60 years.
The study, known as the Yidan Prize Forecast, Education to 2030, was released today (May 22) at a press conference held at the Kowloon Shangri-La in Hong Kong.
It was commissioned by the Yidan Prize Foundation, a global education foundation based in Hong Kong and named after its founder Charles Chen Yidan, a Chinese Internet philanthropist.
The EIU study, conducted from January to March, looked at future trends in education across 25 economies including Hong Kong, the United States, Germany, and Japan.