When it comes to planning for your child's education, there are important differences you can expect to consider out of the many options available in different regions. For families who are considering Dubai and the UK, there are some unique opportunities and challenges that one ought to consider. In this blog, we look at the key factors to consider in children's education planning for both regions, with valuable insight to help you make the right decision for your child's future.
1. Systems of Education and Curriculums
Dubai:
The education system in Dubai is very diverse; private schools promote several curricula, such as British, American, and International Baccalaureate. Most of the schools are private and addressed to expats from around the world. However, while the UAE government sets the standard for private schools, each is autonomous. Generally speaking, the British and American curriculums are among the most popular options among expats, with many schools having advanced options like IB.
UK:
The UK's education system comprises state schools, private schools, and academies. State schools follow the National Curriculum and provide free education; private schools charge student tuition fees. Generally, students follow GCSEs and A-Levels into higher education. There are also several schools offering the International Baccalaureate and other specialised curriculums for those looking for an alternative.
Cost of Children's Education
Dubai:
Some expats may have schooling allowances as an employment benefit covering some or all of the cost. Be mindful that if an expat changes employment, the benefit may not be offered in the new job, affecting your budgeting later. In other cases, education in Dubai can be costly for expat families.
Tuition fees start from AED 20,000 and go as high as AED 100,000 annually. This price range depends on the curriculum being offered and the school's existing facilities. International schools with British or American curriculums are highly priced.
Other additional expenses include uniforms, extracurricular activities, and school transport. It is imperative to make a budget plan regarding these costs.
UK:
In the UK, state schools offer free education. Private schooling, however, is costly; it may reach very high costs in big cities such as London. Tuition to private schools annually ranges between £10,000 and £40,000 yearly. Added to these are other expenses like uniforms, school trips, and extracurricular activities.
State schools will be affordable for families with higher or uncapped budgets, while private schooling offers wider opportunities concerning facilities and the range of education.
3. Avenues for Savings and Investment
Dubai:
As the UAE levies no personal income tax, most families save for education through savings accounts, local investment funds and international investment plans. While some banks in Dubai offer education savings plans to expats, many are not ideal for a family's needs. Indeed, a global offshore solution offering capital protection, tax efficiency, and freedom of choice regarding your preferred currency could be more advantageous.
UK:
Junior ISAs are a type of savings account available for parents living in the UK, to offer tax-efficient savings with potential growth free of any tax. However, the thing to note is that this advantage is only accessible to individuals living and residing in the UK, making it inaccessible for expats.
Expat parents are afforded new wealth solutions, consistent with their residency status, to create a tax-efficient, diversified, personalised portfolio of equities, bonds, and alternative investments that are designed to help reach the goal of funding their children's education. Other alternatives would be setting up trust funds to provide a structured way to save for future education expenses.
A financial advisor will also help parents devise proper short-, medium- and long-term plans for education savings to ensure a practical, robust approach towards securing a future for their children.
Future Children's Education Planning & Opportunities
Dubai:
With many international universities opening their campuses in town, Dubai is fast becoming a growing hub for higher education. Some globally recognised institutions offering undergraduate and postgraduate programs include the American University in Dubai, the University of Wollongong, and the Heriot-Watt University. Higher education in Dubai is at a time of growth but quite costly for expats needing more local funding, private funding or scholarships.
UK:
The UK is the home of some of the most prestigious universities in the world, like Oxford, Cambridge, and Imperial College London. Students originating from the UK can receive government-backed student loans for studies; however, access is only extended to students with specific residency requirements. For international students hailing from Dubai or anywhere else in the world, tuition fees will be high, but there is also the possibility of scholarships and financial aid.
From the various higher education options available to students in the UK, it is considered one of the favourite destinations for students globally, but expats returning to the UK for education will not be eligible for the previously spoken-about benefits, including a student loan. In most cases, the student will be classed as an international student, meaning education will cost three to four times the cost. Scholarships are limited and only sometimes even an option for consideration.
5. Lifestyle and Cultural Considerations
Dubai:
Dubai offers a unique lifestyle, modern infrastructure, luxury living standards, and multi-culturalism. There is little question that, as an expatriate, you can live a high standard of life. Still, cultural norms and regulations in Dubai are to be respected, especially when it comes to schooling and religious observances like Ramadan. Although schools in Dubai are international schools and welcoming most of the time, they follow the norms or customs of the local people. So, understanding the subtleties in the cultural system is one of the essential aspects for expatriate families.
UK:
Compared to Dubai, the UK can provide an easier life that balances work and personal life. The UK has a deeply rooted multicultural environment; therefore, its schools and education system are multicultural. Extracurricular activities in schools, cultural exposure, and historical events are more extended in their breadth than in Dubai.
The UK education system has greatly emphasised academic excellence and extracurricular activities that supplement this aspect of learning, giving students a wholesome educational experience.
Conclusion
When it comes to planning children's education in Dubai versus the UK, both regions have their advantages and challenges for parents: Dubai has a thriving international schooling environment, with tuition fees reaching high bars and the number of available curriculums; similarly, the UK offers an established, diverse educational system with free state education and prestigious universities.
In both countries, you must plan in advance, understand the associated costs, and evaluate the various academic options available to you so that your child has a secure and prosperous future. In Dubai, this importance grows even more.
Getting an early start on securing your children's futures? If you are an expat in Dubai or any other country, we will guide you through ensuring the best opportunities available. Feel free to contact us today to plan your child's education and secure the bright future they rightly deserve.
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