A new study by Online Gaming Groups has evaluated over 30 countries to determine the most cost-effective higher education systems, focusing on the percentage of average annual income spent on educational expenses.
This analysis included countries with the highest university fees, and additional costs such as living and rent were considered to accurately assess the full financial commitment needed for education.
By examining the ratio of costs to salary, the study ranked these nations. Belgium emerged as the leader, offering the most cost-effective higher education. In contrast, Israel was noted for having the highest educational expenses on the list, despite having the fewest universities and the lowest quality of higher education.
Belgium tops the list of countries offering the most cost-effective higher education, with annual expenses, including tuition fees, averaging $28,574. The average annual salary in Belgium is $53,890, with 53.02% of this salary spent on living and university expenses. This balance between earning and learning costs underscores the country's commitment to making education accessible.
Switzerland ranks second, with average annual expenses of $51,013 and an average salary of $95,490, dedicating 53.42% of salary to education and living costs. Despite having the highest living costs in the ranking, Switzerland's substantial average salary helps mitigate these expenses, making its education system remarkably cost-effective.
In third place, South Korea presents a contrast with more affordable living conditions and a lower average salary of $36,190. Here, 61.01% of the salary goes towards education and living expenses, with the country having the highest education costs among the top three.
The Netherlands, fourth on the list, has annual expenses of $37,697 against an average salary of $60,230, spending 62.59% of it on education and living costs. The country ensures broad accessibility to higher education with relatively moderate educational costs.
France is fifth, balancing university and living costs against an average yearly salary of $45,290. With 63.50% of the salary allocated to these costs, France maintains a balance between accessible education and high educational quality.
Ireland follows as the sixth most cost-effective country for higher education, with average expenses of $55,129 and a salary of $79,730, dedicating 69.14% of it to education and living. Despite not having the highest costs, the cumulative annual expenses are considerable.
Japan ranks seventh, where 70.14% of the average annual salary of $42,440 is spent on higher education, indicating a premium level of education, as evidenced by the high number of universities and education costs.
Italy, eighth, spends 70.51% of an average salary of $38,200 on education, reflecting the country's rich educational heritage and the high quality of its education system, ranked 14th worldwide.
Australia is ninth, requiring families and students to invest significantly in education, with 72.97% of the $60,840 average salary going toward educational and living expenses, indicative of the country's high standards of living and educational quality.
Lastly, Israel, despite having the highest education costs on the list and ranking lowest in the number of universities and education quality, spends 78.97% of the average salary of $55,140 on education, rounding off the list of the top ten countries with cost-effective higher education.
