With the costs of higher education getting higher every day, parents need to plan carefully and early to make sure they can fund their children’s education plans. HSBC offers comprehensive education financial planning to make sure your children can reach their utmost potential.
Parents dream of watching their children transform into adults on their university graduation day. They know their children are ready to embark on an exciting journey to successful, fulfilling careers and feel satisfied having done their part in paving the way for their children’s bright future.
But many parents find the process of turning their enormous dreams for their children into an actionable plan complicated, especially those who are planning to send their children abroad in the future. Where should I send my children to study – the United States, United Kingdom, or Australia? How I do know if the amount I put away for their university education funds will be enough in the future? And when they go overseas, how do I ensure their banking needs are met? If an unfortunate event happens to me, what will happen to my plan for my children’s education?
With parents’ dreams and concerns in mind, HSBC has carefully designed a holistic solution for your children education planning to ensure all of their education needs are met.
Each child’s education starts with their parents’ education. Parents first need to understand the pros and cons of studying in various top universities around the world, the opportunities and challenges of living in different countries abroad in addition to the financial implications before they can make informed decision. HSBC has partnered with Education First to provide personal consultations for parents to guide them through the myriad options available to them so they can decide which is best for their children.
With a clearer picture, parents can start preparing for their children’s education funds. Given the rising cost of education and inflation, the estimated total amount might be prohibitively expensive. The graph below shows the sizable jump in the cost of education from 2012 to 2022 for a Business and Management undergraduate degree program in several popular destination universities in Indonesia and abroad.
We can help parents create an affordable financial plan through a program created by Allianz and offered to HSBC customers. Called College Care, the program provides peace of mind for parents by guaranteeing a payout amount of 255% of the sum insured for their children’s university tuition fees and other related expenses over flexible payment terms of 5, 10 or 15 years. Two other distinctive benefits are instant acceptance into the program without medical checkup1 and life protection2 for parents to ensure that their children’s university education funds will be available in time even if they pass away during the payment period terms.
After achieving a sufficient budget for when their children are about to enter university, parents have to choose the right banking partner to channel the funds to their children in their destination country. HSBC worldwide presence can provide ease of financial management in Indonesia and abroad, including credit card and debit card issuance before their children’s departure. In addition, we provide a global support system to anticipate their children’s banking needs, such as free and real-time fund transfers between HSBC accounts in 33 countries and emergency funds of up to US$2,000 if their children lose their HSBC Premier credit card abroad.
At HSBC, we believe that, through careful planning, parents can realize their dreams for their children’s education. We would like to do what we can to help every parent’s dream reach its satisfactory climax at their children’s university graduation ceremony so their children’s dreams can come alive with boundless possibilities.
Plan your children’s education fund with College Care now and get 2 weeks language and culture program in the United Kingdom worth up to USD 3,500 with EF Education First.
For more information regarding College Care, please go to
www.hsbc.co.id/asuransi
1) No health examination is required if Sum Insured is 5 billion for accidents and no additional insurance taken. Accumulation of Sum Insured with product Guaranteed Issued previously already owned with Allianz will be applicable.
2) In case the policy year is less than 2 years and there is risk of death due to the pre-existing condition then 80% of total premium already paid will be returned and Policy End. If passing away not due to the pre-existing condition, then the waiver of premium and benefit of the cash fund will remain be paid in the specified policy year.
