By Maricar Gonzalez
Unfortunately, a lot.
Knowing that my little Jeio will be starting school soon, I naturally searched the web for pre-school tuition fee rates. Just looking at the P30,000 – P60,000 range per year was enough to give me an anxiety attack! Imagine my shock when I searched further and saw that college tuition costs as much as P45,000 a semester today if I want to send him to that school in Katipunan. I wonder how much it would be when we enroll him in college 13 years from now? Not to mention the cost of books, food and transportation allowance, plus other miscellaneous school requirements. Hay!
And yet, even with all the information, I know that when the time comes, I would gladly and willingly send him to the best school that I can afford. Why? Because I am inclined to believe that sending him to a good school would mean better opportunities for him in the future and that education is still the greatest form of pamana (legacy) that I could leave him with.
So, to all parents out there, here’s a little advice that might help you:
1. The sooner you start saving, the better.
I’ve come to the conclusion that Jeio’s college education will probably be one of the most costly in our family’s expenses. So, while I still have time, I have already started to prepare for it by saving regularly.
2. Evaluate other options for education funding.
Aside from praying fervently that Jeio will be granted a scholarship, I’ve discovered that there are a variety of financial products that can help us save for his education. Besides providing far better earnings than savings accounts and time deposits, these financial products are very convenient and affordable.
3. Entrust your money only to a stable financial institution.
I’ve seen and heard of companies closing shop during the recent financial crisis. Find out more about the history and financial performance of a company and ask friends about their own experiences.
Need help saving for your child’s education?
Drop by any Sun Life Office nationwide. I dropped by one in Makati where a free consultation introduced me to Sun MaxiLink Bright. Just for visiting, they gave me a chance to win P100,000! No purchase needed!
What are you waiting for?
Great article! short but effective!
Hi Maricar, I wish more parents will be just like you. Taking a very proactive approach today is much better than waiting for things to turn out thirteen years later.
Good luck!
education do cost a lot but nowadays and just a though of it makes me shiver cause I donrt have alot in my saving but still working on it. its much better to pay in full so you can save up for the next school year.
Hi Gio, thanks for the tip! We’re sure that It’s Time! readers will benefit from that.