bbc.com
October 22, 2013
"Asia's Parents Suffering Education Fever"
In recent decades, Asia has been suffering an educational fever
that may last for years to come. Economic studies show that Asian families spend
most of their income on education and
less on vacations, entertainment, and even healthcare. Some people have been
resorted to selling their apartments and homes in order for their children to
attend prestigious colleges and universities. Asia has been suffering with this
“fever” throughout their culture. Traditionally, Asian families firmly believe
that there is no other way to achieve success without a noteworthy degree from
a renowned university. Therefore, Asian families go deep into debt just to send
their children to receive a higher education. However, most middle class and
working class families cannot afford to pay back the debt and end up spending their
lifetime savings to pay back the student loans. Even though parents are the
greatest contributors to their children’s education, grandparents have also
gotten involved in this endeavor. China, South Korea, Taiwan, Hong Kong, and
Singapore are the main countries that have high levels of education spending. Experts
suggest that the solution to this problem could be to give university entrance
exams early so parents do not have to pay extra money for high school or
college tuitions. Students would have to go to school at an earlier age rather
than the average age. Even though this “educational fever” has affected the
Asian economy all the way down to their personal health and wealth, there is no
end to this since the culture strongly believes in an educated mind.
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