StudySearch: Student marketplae reveals Nigerian parents save up to $50,000 for foreign education

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StudySearch

According to StudySearch, the top 5 most popular destinations for their students outside of Nigeria for University are The UK, Canada, USA, Australia and Germany.

StudySearch, a peer-to-peer led student marketplace that helps African students study abroad, has revealed that Nigerian parents save an average of $50,000 to send their children to University. For those who start a savings plan from the moment they leave the maternity suite, this equates to N10.5K a week.

In total, African parents spend $10bn annually on sending their children abroad for University. According to StudySearch, the top 5 most popular destinations for their students outside of Nigeria for University are The UK, Canada, USA, Australia and Germany. It is not just foreign Universities that are benefitting from hard working Nigerian parents, but also the wider economies.

Much of London’s housing boom can be attributed to wealthy Nigerian families investing in property for their children. In the last three years alone, wealthy Nigerians have spent $373m on London properties, many of which are used to house their children whilst they study.

StudySearch CEO, Frederik Obasi says: “When it comes to educating their children, Nigerian parents mean business – they are willing to save hard for years as they see it as investment in their future. In Nigeria, there’s a real premium placed on people who’ve graduated from overseas Universities and middle class parents are acutely aware of this, which is why they save hard to pay for international study”.

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Obasi adds: “Our student advisors have gone through the process of applying for and accepting oversees courses at top institutions, so are well placed to advise others on how to navigate the system, which can often be complicated.”

Obasi continues, “Speaking to young people and their parents, we realised that many of the international student recruitment companies operating in Nigeria were not only over-priced, but they were delivering a poor service and sometimes fraudulent, unable to live up to their promises. If families have saved in excess of $50,000, when it comes to choosing an education agent, they need to invest wisely.”

StudySearch is an online marketplace that connects African students with University courses around the world, promoting travel and cultural exchange globally.  The company was launched in 2014 by Frederik Obasi and Taofeeq Alabi, two British-born Nigerians who studied in the UK before moving to Nigeria to disrupt the international education and student recruitment market.

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