It’s every parent’s dream to see their sons and/or daughters graduate, and be able to get a nice job, start a business, give them grandsons and granddaughters. I also have the same dream, although I do not have kids yet, nor am I already married. I am, however, already thinking about that future. I am hoping to save up enough money to start my own business (I tried buying one franchise out, but I got outbid) and be able to support my future kids.
After seeing this picture, though, I felt more underprepared for the future. This is a simple calculation of possible tuition fees for the year 2013. The schools included in the list are, some of the top educational institutions in the Philippines today.
The disclaimer reads:
- Tuition quoted are only estimates for AY2012-2013 and do not include miscellaneous and other fees (which actually drives up the total school/university fees, and ultimately, the parents and the guardians crazy.)
- Assumed increase in tuition is 10% per year from year 2012 to year 2030.
A lot of people will argue that the above data is very misleading. Maybe, but this is an eye opener to what may be a possible scenario: Philippine tuition fees can and will get too high that a lot of people will no longer be able to afford to go to school or continue their education. Let’s not forget the cost of the uniforms, your kid’s allowance, food, fare, gas, and all the other payments. The result will be an increase in out-of-school youths, thereby increasing the crime rate.
Oh wait, that’s already happening. If you look at the 2012 stats in the pictograph, those amounts are already way beyond the average monthly earnings. I wonder if the minimum salary will also increase by year 2030.