Only 1 in 10 parents in Bahrain have a children’s education savings plan: New GCC Survey

Only 1 in 10 parents in Bahrain have a children’s education savings plan: New GCC Survey

Tuition fees for higher education is the leading concern for 61 percent of parents in Bahrain revealed a survey commissioned by ), 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 percent of families in Bahrain are digging deeper into their personal savings. In comparison, 15 percent 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 percent of parents in the GCC use their monthly income for school-related expenses while the majority of others rely on personal savings or loans. With the increasing cost of education and the uncertainties of life, parents should seriously consider investing in a structured savings plan to support their child’s education. Always back your education savings plan with life insurance cover, which fully protects you and secures your child’s future,” said Rayner Britto,