Regular investments, zero savings: How UAE parents are securing kids’ education

Regular investments, zero savings: How UAE parents are securing kids’ education

One parent whose eldest is just 9 years old has already started investing to pay for college — yet another just goes with the flow and doesn't save at all. Some also rely on loans.

In the UAE, where several financial solutions are available, providing for children's education varies from one family to another. A cross-section of individuals shared with Khaleej Times how they manage their budgets to meet schooling requirements.

Parent Adil Eschack is among those who plan ahead. “I follow a goal-based savings plan to save up for my children’s college education,” he said.

“The first step is to decide what and where they will study. The second step is to save the amount by calculating how many years I have. I need to identify investments that I can put aside which will make the required amount available," Eschack added. Among the options he considered were fixed deposits, bonds, stock market and property investments, and mutual funds.

A recent survey showed that 80 per cent of parents in the UAE spend up to 40 per cent of their monthly income to pay tuition fees. Over one-third – 34 per cent – UAE residents feel “very confident” that they will be in a