University
Assuming the goal is to have your children study at a University, then the FEE-HELP system offered in Australia is the most cost-effective. FEE-HELP defers the upfront costs of attending university and is paid back later by the child when they start to earn income and is not means-tested to be eligible. If their salary is > $43,151 they starting paying back their FEE-HELP loan to the government at 4% per year. The maximum repayment is 8% when they start earning > $80,137.The lifetime loan limit for FEE-HELP is $85,062 for 2010 (higher limit for medicine, dentistry). For example, a 4 year Bachelor of Laws undergraduate degree at the University of Technology Sydney will roughly cost $35,424 in university fees. (192 credit points X $184.50) You must be an Australian citizen or permanent resident of Australia AND be a New Zealand citizen to be eligible.
Such a scheme is not offered in Asia. Attendance at a university in Asia requires upfront payment of fees. For example, at the University of Hong Kong, a 4 year Bachelor of Laws undergraduate degree incurs tuition fees for HK$42,100 X 4 = HK$168,400 = AU$24,680
Therefore attending an Australian university if you are an Australian citizen is not a difficult choice to make. Even though it may cost less to obtain a similar university degree in Asia, you must determine whether it is of the same quality and whether there are enough places to gain a place or if the entry mark is too high.
High School
Countries have both public high schools and private high schools. Public high schools are generally free while private high schools are not.
Private High School in Hong Kong versus Private High School in Australia
Australian International School in Hong Kong
Year 7 - HK$106,600 + HK$12,000 (capital levy) = HK$118,600
Year 8 - HK$118,600
Year 9 - HK$118,600
Year 10 - HK$118,600
Year 11 - HK$112,000 + HK$12,000 (capital levy) = HK$124,000
Year 12 - HK$124,000
Total: HK$722,400
English Schools Foundation (ESF) - Shatin College, New Territories
Year 7 - HK$89,250
Year 8 - HK$89,250
Year 9 - HK$89,250
Year 10 - HK$89,250
Year 11 - HK$89,250
Year 12- HK$89,250
Total: HK$535,500 (25.8% cheaper than the Australian International School)
Many schools in Hong Kong are Direct Subsidy Scheme (DSS) schools. They can set their own schools fees (usually HK$3,000 - $110,000 per year) and receive some government funding. A list of DSS schools in Hong Kong is found here:
Sydney Grammar in Australia
Year 7 - AU$24,318
Year 8 - AU$24,318
Year 9 - AU$24,318
Year 10 - AU$24,318
Year 11 - AU$24,318
Year 12 - AU$24,318
Total: AU$145,908 = HK$996,665
Public High Schools - Hong Kong
In Hong Kong, there are comprehensive public schools. Only 112 of 400 government-funded high schools are allowed to conduct classes in English. These are referred to as English Medium Secondary Schools. Funnily enough these English Medium Secondary Schools are also the best performing government-funded high schools. However, even in English Medium Secondary Schools, many instructions to students are given in Cantonese.
Therefore comprehensive public schools are not an option for someone seeking future study in an Australian university (which is taught in English).
Public High Schools - Australia
In NSW, there are public high schools which are Selective High Schools. The students who attend these type of public high schools must pass a Selective High School Placement Test when they are in Year 6 and therefore must be of high academic ability if they are offered a place. There are 3,533 vacancies for Year 7 in Selective High Schools and each year there are approximately 13,336 applicants. This represents a 26.4% chance.
In 2009, the top 5 Selective High Schools that accept boys based on their minimum entry score were:
1) James Ruse Agricultural High School (241/300 - 80.3%)
2) North Sydney Boys High School (223/300 - 74.3%)
3) Sydney Boys High School (219/300 - 73%)
4) Baulkham Hills High School (216/300 - 72%)
5) Fort Street High School or Normanhurst Boys High School (213/300 - 71%)
Why choose a Selective High School? For example, 50% of Year 12 students at James Ruse Agricultural High School accept university places for studying medicine and law.
Therefore attending a Selective High School is not a difficult choice to make. It is far cheaper than attending a private high school and your child has a far higher chance of being admitted to an Australian university course with a high cut-off entry mark than if they attended a comprehensive public school.
