Even as unemployment for graduates hits record numbers, school fees have hit new highs.
For degree holders, unemployed has soared to 4.3 percent as of June, according to statistics from the Manpower Ministry – the highest it’s been since 2009.
But from 2007 till today, university fees have jumped by 38 percent according to research firm ValuePenguin.
Meanwhile, median household income in Singapore only grew by 10 percent over this period.
According to ValuePenguin, the annual tuition cost for a general arts and science degree was between S$6,000 to S$7,000 but now costs between S$8,000 and S$11,000 – a jump of about 51 percent.
Prospective law students, take a look at these numbers: the cost of a law degree at NUS in 2009 was S$6100 and today its S$12,400 – a 103 percent increase.
But how about kids who just want to do Business?
A business degree from NTU went from S$6,110 in 2007 to S$9,250 in 2015 – a 50 percent increase.
So, cost of higher education outstrips growth in household income at a time when there is record unemployment for graduates.
Feeling the pinch yet, or are you still reeling from the kick up the ass?