Singapore’s tertiary education system has been criticised by experts for its steep tuition fees, with some of the country’s best universities seeing tuition fees soar by an average of more than 20 per cent.
The country’s most prestigious universities, including the University of Singapore, the National University of Ireland, and the Singapore Management University, have seen tuition fees rise by an annual average of almost 30 per cent since 2011.
At a time when the country is on track to surpass its 2020 target of a 3.6 per cent growth rate, experts say it is essential to keep in mind the country has an aging population and the higher fees may be an obstacle.
“It’s not a problem for us.
We are not the only ones with tuition fees.
It is not a big issue for Singapore.
There are many other countries where it is not an issue.
But in Singapore, it is very big issue,” said Dr Sunjun Huang, professor of finance and economics at the University College London.
As of the end of September, Singapore had about 1.35 million people enrolled in its universities, with more than 2,300 institutions receiving a total of more a billion dollars ($1.1 billion) in funding.
With Singapore’s population expected to reach around 4 million by 2030, Dr Huang said the universities were in dire need of funding.
Singapore has the highest per capita income in the world at $1,000 a day.
However, the average university student spends an average 11.5 hours studying a course per semester.
Singapore’s tertiaries are also among the most expensive in the region, with the average tuition fee at a university of around $1.9 million ($1,907 per month).
The government has been slow to reform the countrys education system, but experts say a higher tuition fee is one way to address the issue.
Currently, there are three types of tertiary students, who are divided into two classes: high-yield (HS) and low-yielding (LL).
High-yeeds are students who earn more than $50,000 per year, while LLs earn less than $35,000.
According to a government estimate, there were 4,600 LLs enrolled in Singapore in 2020, while there were 3,200 high- and low-, respectively.
In a report published by the Centre for Asian Development, experts said that by 2030 the country would need to increase its tuition fees by 15 per cent, or about $600 million per year.
It is hoped that the government will continue to reform Singapore’s education system in a more sustainable manner.
There is a growing debate about the role of university fees in the country.
Earlier this month, the government unveiled a new set of guidelines that would allow students to opt out of university tuition.
While some universities, such as the National Singapore Management and Technology University, said that students should not be forced to pay for their education, others, such the University Of Singapore, argued that they should be able to opt in to the system.
Some university students, including Dr Huang, are against the higher tuition fees because they believe it could lead to an increase in tuition fees for students who do not have the funds.
But for the students, the higher costs would be offset by the higher educational opportunities offered in the future.
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