Considering tuition fees and the length of studies in 2016/2017 school year, Swedbank has compiled a top list of Latvia’s higher education programmes in which education costs the most. Education to acquire the profession of a dentist in the University of Latvia will cost the most – students hoping to work in this profession will have to pay EUR 12,500 a year in the five-year study programme.
In Riga Stradins University, on the other hand, the same education programme costs EUR 11,500 a year, Swedbank reports.
The next study programme that will cost a lot of money is medical education in English at the University of Latvia – EUR 7,000 a year (six years in total). It should be said that this same programme in Latvian language costs EUR 16,920 at the University of Latvia or EUR 16,800 at Riga Stradins University.
The seventh most expensive higher education programme in Latvia is veterinary medicine. Studying this programme at the Latvian Agriculture University will take six years and a tuition fee of EUR 2,600 annually. The eighth most expensive higher education programme is heating, gas and water technologies at Riga Technical University, which can be mastered in five years with tuition fee of EUR 3,000 a year. The ninth most expensive education programme is finances (it is possible to earn a double diploma in cooperation with Swiss Business School) at the School of Business and Finance: it is possible to master this programme in four years for EUR 3,600 a year. Physiotherapy offered by Riga Stradins University is the tenth most expensive education programme in Latvia, which can be mastered in four years for EUR 3,415 a year.
The average tuition fee for higher education in Latvia is currently EUR 7,300. To save up such an amount, it is a good idea for parents to start putting away money for their child’s future once he reaches the age of five. It is best to divert at least EUR 40 every month to make sure enough money is saved by the time the child reaches the age of 18. It can make for a good birthday present. Nevertheless, it is also highly important to keep in minds that depending on the child’s chosen profession, the price of education may be EUR 4,000 or EUR 62,500.
«According to results of recently made estimates, British students who begin their studies this year will either have accumulated debt worth nearly GBP 50,000 after three years of studies. This includes living expenses and tuition fees. This amount is equal to 40% of average mortgage loans, which reaching GBP 115,000 in Britain. This means tuition fees in higher education comes close to the biggest purchase in any person’s life – housing. In all developed countries that had participated in studies regarding higher education expenses there has been a 20 to 30% increase. This applies even without the inflation effect. Therefore, education and living expenses grow more rapidly than expenses for other goods and services. This fact is made even more significant if you take into account the growing desire of employers to look for potential employees among graduates of higher education institutions. This means the interest to acquire higher education continues to grow, and with that we see growth in living expenses and tuition fees – at least 30 to 35%,» – notes socio-anthropologist, former Education and Science Minister of Latvia Roberts Kilis.