TAIPEI (TVBS News) — Rising education costs in Taiwan have placed a significant financial burden on families. According to Prudential plc, the average education fund per child now stands at NT$4.81 million.
This figure underscores the economic strain on parents, as the Directorate General of Budget, Accounting and Statistics (DGBAS, 主計總處) reported the average monthly salary in Taiwan at NT$58,545 in 2023.
Peng Shu-yen (彭淑燕), president of the National Alliance of Parents Organization (NAPO, 全國家長團體聯盟), noted that educational expenses have increased due to the need to support children's diverse developmental needs, career exploration, service learning, and international education trips. She explained that these additional costs have become a significant portion of household expenditures.
Parents also face non-monetary costs, such as the time and effort required to assist their children with learning after work. Huang Yao-nan (黃耀南), director of the National Federation of Education Unions (NEU, 全國教育產業總工會), advised parents to understand their financial situation clearly. He warned against depleting savings or retirement funds solely for children's education, as it could severely impact the family's future economic stability.
Taiwan's education policy is transforming, moving away from solely focusing on exams. Experts suggest parents observe their children's interests and encourage suitable development rather than pursuing quantity. Additionally, many parents opt for student loans to alleviate household expenses and teach children financial planning.
As Taiwan reshapes its educational landscape, families must balance financial responsibilities and support their children's holistic development.