An irrelevant question on school fees vs family income

minirat

Hi, apparently paying HK$10K per month or more for kid's education is quite a "market price" for IS now but come to think of it, it's actually ridiculously expensive, even though it's within the affordability for many families here.  A curious question.  What % proportion of these 2 elements is considered reasonable in your perspective?

hellokids

It's rather on the personal value.  I know someone living in an apartment with monthly rent of 50k but doesn't feel worth for school fee of around 3k for his kid.

minirat

回復 hellokids 的帖子

I understand where you are coming from.  I also know parents who are willing to send their kids to IS with family income of HK$30K.  Hence I am curious how different people view and value it.

Jane1983

一 commit左，就系12年的責任，負擔問題真系要想清楚。

chwmama313

I roughly calculated that it will cost around HK$2m from kindergarten to secondary school! Add a further HK$1m if we send my boy to overseas Uni. Really a lot of money!!!

HKTHK

回復 chwmama313 的帖子

In current money, yes but with inflation, the actual amount will be much larger.  Probably more like HK$2.5mil assuming 6% inflation.  And for university, I think a more reasonable number, even in today's money, will be more like HK$400k-500k/year.

martie

回復 minirat 的帖子

To me, I believe education is very important.  I would prepare to pay my kid's education no less than my rental.

poonseelai

回復 chwmama313 的帖子

x 2 for me  

21Ckid

ISF put the "poverty line" for 2 kids studying there at $77,000 per month, below which you can apply for financial aid. Honestly, if you still have mortgage to pay and need to save up for overseas tuitions later, anything less than $100,000 per month will be stretching your means to the limit.

mamavee

原帖由 21Ckid 於 12-12-05 發表
ISF put the "poverty line" for 2 kids studying there at $77,000 per month, below which you can apply ...

77000 poverty line

Jane1983

mamavee 發表於 12-12-5 16:15
77000 poverty line

條poverty line系幾好笑，不過個admission officer 講明個資助申請系決定左收吳收小朋友之后先辦，所以無歧視成份

mamavee

What's the net school fee for one kid studying there per month ?

HKTHK

回復 21Ckid 的帖子

Unfortunately, $77000 in HK really isn't that much these days.  After paying for income tax, this income is only enough to pay the monthly rent of a 1600 sq ft apartment in Bel-Air!  With no money leftover for food, education, clothes, ......

chukuen

For my case I spend around 20% of our family income to send my girl to IS. That's why we only can have 1 child....

Mom2One

School considerations is also the reason we have only one child - but not because of costs - but because I really can't face the stress of having to get another child into primary school!

FattyDaddy

HKTHK 發表於 12-12-5 16:50
only enough to pay the monthly rent of a 1600 sq ft apartment in Bel-Air! ...

Haha, a 1600 sq ft Bel-Air apartment is a bit extreme {:1_1:}

This $77,000 poverty line thing, I wonder if ISF actually check the applicant's family bank statements as part of the admission process, and if so would they categorically reject all applicants below the poverty line in order to protect the profitability of the school. Surely they wouldn't want too many students applying for financial aid.

poonseelai

FattyDaddy 發表於 12-12-5 22:10
Haha, a 1600 sq ft Bel-Air apartment is a bit extreme

This $77,000 poverty line thing, I wo ...

I think ISF, as well as other private schools/DSS, is required to retain a certain portion of school fees as scholarship/financial assisance for students.  So it cannot keep all fees received la.

21Ckid

It is an open secret that most sort after schools (LS or IS) (exclude esf which are non-selective) vet parents' background for entry grade students (aged 3-5), by looking at address, occupation etc. And for the 2 top LS/IS (st paul co-ed and CIS), they basically interview parents, and it will be extremely lucky for those not with prominent background to get into their entry grade form.

minirat

Why is it only 12 years?  I counted at least 20 years from PN to Uni!

minirat

21Ckid 發表於 12-12-5 02:03
ISF put the "poverty line" for 2 kids studying there at $77,000 per month, below which you can apply ...

Agree.  Apart from mortgage and money aside for studying aboard, saving up for retirement is also realistically important.  And while splurging on education, we need to maintain satisfactory level of quality of life.  Hence personally I think maintaining education expenditure under 10% of family income is acceptable.