BRITISH parents are among the least likely to say that paying for a child’s education is a good investment, according to a report released this morning.
HSBC research into priorities for education in 15 countries reveals that only 35 per cent of parents in the UK say that paying for schooling is the best investment you can make, down from 79 per cent in Brazil, and 58 per cent on average across the nations included.
Parents in the UK also allocate the least money to education of their children when asked how they would best financially support them.
On average, British parents allocate just 24 per cent of this hypothetical pot to education, far lower than the average 42 per cent across the world.
With the country’s often-painful house prices, British parents allocate 20 per cent of the money in their ideal scenario to a deposit for a house for their children, double the average. In the US, the figure is only six per cent.
The survey also shows that parents in the UK have practical priorities for university: 39 per cent say an ability to compete in the workplace is what good higher education needs to deliver, and another 39 per cent say the same of income earning potential.
Nearly three quarters expect that their children will go on to a university-level education.