How to deal with rising cost of education

MANILA – The rising cost of education has tapered a bit over the last decade but it is still huge.

The Department of Education (DepEd) has been making some headway in improving the public school system but this is a long struggle, according to financial adviser Salve Duplito.

“Public schools now are still crowded, lack well-trained teachers and funding for technology,” she said on ANC’s “On The Money.”

Duplito noted that the rising cost of education presents a harsh reality, and eventually, only the very rich will be able to afford quality education in the country. The rest of the population will likely go into debt, sell assets, or forego investing for their own retirement to afford quality education.

Citing a study by Pathways for Higher Education, Duplito said some public schools provide quality education, allowing its students to beat those from the country’s top private schools in national examinations.

There are three factors for quality education, the study said: very good principal, good teacher trainings, and committed parents.

“When choosing a school, don’t just go for the ones with the best names. You can look for high quality, low cost education by considering public schools with the best principals and those that train their teachers well,” said Duplito.

To deal with the rising cost, Duplito shared these strategies:

1) Create a sinking fund for education expenses

Set up a separate account dedicated solely for tuition expenses, and transfer money monthly from your expense account to this account.

2) For future education expenses (at least 5-year horizon), put your money in a low-cost mutual fund or unit investment trust fund

Go for index funds with no entry fees and a management of at most 1.5 percent.

3) If you know how to pick stocks, look for 10 stocks that are not overpriced

Choose companies with good management, who are transparent and accountable, and whose products and business model can survive the test of time.

“The worst thing that parents can do is to depend on current income to pay for education costs. Anything can happen to us. The ‘bahala na’ strategy is the worst strategy for paying for education costs,” said Duplito.

She added that education is an investment, and its rewards are far greater than the cost of tuition.

source: www.abs-cbnnews.com

Teen boxer dies after days of being comatose

MANILA -- The 16-year-old high school student who went into comatose for days after a boxing match has died, the Department of Education (DepEd) announced.

“DepEd is deeply saddened by the loss of Jonas Joshua Garcia. We may not fully know why sad things like this happen, however, we hope that it will help for the family of Jonas to know that in this time of sorrow, their extended DepEd family cares and that our thoughts and prayers shall always be with them forever,” Assistant Education Secretary Tonisito Umali said in a statement.

According to initial reports, Garcia was competing in a boxing match at the Central Luzon Regional Athletic Association meet when he complained of dizziness at the second round of the match.

The boxing match was sanctioned by the DepEd.

The fight was immediately stopped and Garcia was rushed to the provincial hospital. The admitting physician said Garcia suffered internal hemorrhage and slipped into coma.

The organizers of the athletic meet and the tournament manager denied any negligence on their part and claimed it was an accident.

The Bulacan team has withdrawn all 10 amateur boxers from the tournament. The team will also recommend to the DepEd superintendent to abolish all combative sports such as boxing, taekwondo and arnis in future athletic events of DepEd.

source: www.abs-cbnnews.com