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Russian families are ready to save up for higher education

39% of families ready to pay for their own higher education and education of their children are going to get the necessary funds from savings. The Sberbank Life Insurance employees came to this conclusion after a survey conducted among residents of 37 cities in Russia the day before the beginning of the school year.
Russian families are ready to save up for higher education

Among those willing to pay the respondents aged 30 to 40 with higher and postgraduate education and upper-middle income tend to accumulate funds for education most often.

Young people aged 18-30 are ready to save about 400 thousand rubles for schooling, and those 30-40 years old - 632 thousand rubles. Women estimate the required amount of savings at 526.5 thousand rubles, men - 423.1 thousand rubles (100 thousand rubles less). The residents of Tyumen, St. Petersburg, Kazan, Chelyabinsk and Moscow are ready to save up the most for education.

“It is important to start saving for education as early as possible,” says Natalya Alymova, senior vice president, head of Sberbank's Welfare Management block. - The average period of savings for children’s higher education with the help of insurance is 6-10 years; the average amount is about 400 thousand rubles. By concluding an endowment life insurance contract, parents can be sure that the amount they want to spend on schooling will definitely be accumulated: in case of adverse events related to health, the insurance company will continue to form savings."

80% of survey participants believe that education is the key to success in life. About three quarters of Russians fully or mostly agree that a good modern education allows earn more or much more. Besides, according to 84% of Russians, education allows make a career faster or much faster. The overwhelming majority of respondents (91%) are convinced that a good education is necessary for personal development.

Source: https://www.sberbank-insurance.ru/news/01_09_20

Photos are from open sources.

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