Escaping The Squeeze of The Sandwich Generation Part 2: Preparing for Your Children’s Future

As with all parents, John loves his two beautiful children dearly. To him, his greatest wish is for them to have a bright future. To achieve this, it is essential that he provides them with the best education. Like many other parents, he sees education as the best gifts for his children.

Even with a limited budget, he knows it is essential to prioritize planning for their education. Nothing is more important than being financially prepared for his children’s education fees.

What is the Cost of Education in Singapore?

In today’s society, many will consider having a university education to be essential. As with many parents, it is John’s dream to witness his two children receiving their degree scroll, dressed in their graduation gown. 

However, tertiary education does not come cheap. The annual tuition fee, depending on the course, for a local university ranges from S$8,200 – S$34,200 (after the government’s subsidy). Based on past trends, the figures are also projected to increase by 0.6% – 8% per year. 

This does not factor in other fees such as overseas exchange programme, accommodation, and living expenses which will all incur huge costs as well. 

Should your child choose to pursue an overseas university education, the figure will be significantly higher. For example, tuition fees in Australia – one of the most popular destinations for Singapore students, can cost between S$19,200 to S$44,000 per year. This is notwithstanding other expenses such as flights, living and accommodation expenses.

What can I do?

Well, while many have the intention to fund their children’s education, small and adhoc saving is insufficient. It is important to have a financial plan!

There are two main ways to approach this:

Option 1: Make your savings work for you

You can opt to put your money into financial plans that have higher returns compared to bank savings accounts while incurring lower risks than investments. This makes it the go-to option for most parents who are looking for a relatively low-risk option to stash their savings.

Option 2: Invest your Money via a Financial Adviser

On the other hand, if you have a higher risk tolerance, you can consider investing with a financial adviser. Through investment, you can increase your chances of getting a higher return. However, as with all investments, the returns are not guaranteed. You have to understand the risks involved and be comfortable with the risk factor.


Faced with the financial pressure to support both the young children and elderly parents, it is definitely not easy to set aside money for an endowment plan.

However, it is essential that you make the right choice for your children. As seen in John’s example, it definitely helps if you start early. 

The best gift from a parent to a child is the gift of education. A small sacrifice here and there will free your child from the crippling monster that comes in the form of student debt. 

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Read more:

Escaping The Squeeze of The Sandwich Generation: Three Important Rules

PolicyPal Promotion: Get Paid to Sort Out Your Insurance

10 Long & Short Term Endowment Plans in Singapore (2020)

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