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How much more expensive has higher education become in Kazakhstan and abroad?

The experts of LIC Freedom Life studied the data of local and foreign universities and learnt about the world's most expensive and prestigious education and how to save up for it with the current average salary.
How much more expensive has higher education become in Kazakhstan and abroad?

According to the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, there were 620.4 thousand undergraduate students in the 2010-2011 academic year, of which 140.5 thousand students received grants. The average cost of education at Kazakhstani universities for those who entered on a paid basis amounted to about 480 thousand tenge.

As of the 2015-2016 academic year beginning, there were 127 universities with 414.7 thousand undergraduate students in the country. 137.7 thousand of students received grants. The cost of higher education at that moment averaged 400-600 thousand tenge.

The number of students in higher education institutions amounted to 576.6 thousand people in the 2020-2021 academic year. The average cost of a one-year full-time course was 825 thousand tenge. And the academic year for the remote study common during the COVID-19 pandemic, was estimated at 378.4 thousand tenge.

As of early 2022-2023 academic year, the number of students was about 600 thousand people. The cost of education in domestic universities is from 250 thousand to 9 million tenge, depending on university location and status. The highest cost is at the universities of Almaty (KIMEP, KBTU) and Astana (Nazarbayev University). The cheapest universities are in Shymkent.

Great Britain: according to the British government’s website, there are 154 recognized universities in the Kingdom. Over 2 million people study at universities as undergraduate, master and postgraduate students, of which 500 thousand are foreign students.

The cost of education in the UK is considered one of the most expensive in the world. The fees in prestigious universities can exceed 50 thousand pounds per year (more than 28 million tenge), while on average British universities estimate tuition at 35 thousand pounds per year (19.8 million tenge). To this must be added a minimum of 10-15 thousand pounds (5.6-8.4 million tenge) for accommodation per year.

British higher education has risen in price for Kazakhstanis by 9.2 times for 12 years.

Australia: the country has 43 universities with over 600,000 students. The average cost of living for foreign students is about 1.4 thousand Australian dollars per month (426 thousand tenge).

The cost of education for Kazakhstani students for 12 years has increased by 6.5 times.

USA: there are 4,726 operating universities and 21 million students. The minimum expenses of Kazakhstanis on education in both public and private universities, food, accommodation and other needs can be about 35-40 thousand dollars (16-18 million tenge) a year.

The cost of education for Kazakhstanis has increased 10 times for 12 years.

UAE: there are two public and about 80 private universities. 70% of private universities are located in the cities of Dubai and Abu Dhabi. In total, more than 200 thousand people study there. In addition to tuition fees, students spend around AED 2,500 per month on living expenses (309,000 tenge).

The cost of education for Kazakhstanis has increased by 12.7 times for 12 years.

South Korea: 267 universities have been opened for about 1.9 million students. The estimated cost of living in South Korea (excluding rent) is around KRW 1.3 million per month, including food expenses, transportation, utilities and entertainment. The cost of rent can vary depending on location and type, on average it ranges from 400 thousand to 1.2 million won per month (136-400 thousand tenge).

For 12 years, the cost of education for Kazakhstanis has increased by 6.4 times.

China: there are currently more than 2,900 universities with more than 38 million students. The accommodation costs are on average 3,000–4,500 yuan per month (200,000–300,000 tenge). 

The cost of education for Kazakhstanis has increased by 13.8 times for 12 years.

Türkiye: there are more than 200 public and private universities with over 8.2 million students in the country, almost 4.6 million of which are undergraduate students. Tuition fee at Turkish state universities for foreign citizens is much cheaper if the program is in Turkish. In addition to tuition fee, living expenses for students are about 10,000 Turkish liras per month (235,000 tenge).

The cost of education for Kazakhstanis has increased by 11.9 times for 12 years.

The programs that help save money for university education

The cost of university education both locally and abroad grows by an average of 14-20% every year. Education for Kazakhstani students in some countries has risen in price by more than 10 times since 2010.

There are several convenient options to facilitate the saving process for child’s higher education. One can use educational deposits. As of 2023, a funded life insurance program within the framework of the State Educational Savings System (SESS) has also become available for Kazakhstanis. It has a significant difference from other products, such as banking, as it provides insurance coverage. In the event of a parent’s death or disability with disability confirmation of group 1 or 2, the amount planned for child’s education will be paid under the contract for the provision of educational services, regardless of how many contributions the parent managed to make to the insurance program.

“The method of accumulation under the life insurance program within the SESS framework is as follows: the parent determines the duration of insurance (from 3 years or more), amount of premium and frequency of its payment (monthly, quarterly, semiannually, annually). After that, the agreement with insurer is concluded, according to which the state bonus is accrued for a period not exceeding 20 years. Voluntary educational endowment insurance (SESS) works as a deposit with a guaranteed annual effective rate of about 8%. During the insurance period, the amount of savings is annually growing by the amount of the state bonus in the amount of 5% of the estimated amount, which includes paid premiums and return on investment regulated by law,” LIC Freedom Life explained.

Photos are from open sources.

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