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How Much Do Studies Cost in Greece and Abroad and How to Secure Them? A Complete Guide for Parents

30/01/2025

Our children's education is one of the most significant investments we can make as parents. However, the cost of studies can be quite high, especially if they choose to study abroad. In this article, we will analyze in detail how much studies cost in Greece and abroad, based on real prices and recent data. We will also provide tips on how you can financially secure your children's education.

Cost of Studies in Greece

In Greece, public universities are free for students, but private colleges have tuition fees ranging from €6,000 to €15,000 per year, depending on the specialty and institution. For example, at Deree College, undergraduate tuition fees start from €9,000 per year.

  • Books and materials: The cost for books and materials can reach €500-1,000 per year, depending on the field of study.
  • Living expenses: If your child studies in another city, living expenses (rent, food, transportation) can range from €400 to €800 per month.
  • Entertainment and other expenses: These include costs for leisure activities, travel, etc., which can amount to €100-300 per month.

Cost of Studies Abroad

The cost of studying abroad varies significantly depending on the country and university. Below are some examples:

Europe

  • United Kingdom:
    • Tuition fees: €10,000 to €38,000 per year
    • Living expenses: €1,000 to €1,800 per month
  • Germany:
    • Tuition fees: Almost free (€150-300 per semester)
    • Living expenses: €850 to €1,200 per month
  • Netherlands:
    • Tuition fees: €2,000 to €15,000 per year
    • Living expenses: €900 to €1,400 per month

America

  • United States:
    • Tuition fees: €20,000 to €60,000 per year
    • Living expenses: €1,200 to €2,500 per month
  • Canada:
    • Tuition fees: €10,000 to €30,000 per year
    • Living expenses: €900 to €1,800 per month

How to Secure Your Children's Education

To cover the cost of studies, it is crucial to start planning early. Below are some strategies:

1. Savings and Investments

  • Bank Deposits: A simple solution is to open a savings account with a fixed interest rate.
  • Mutual Funds: Investments in mutual funds can offer higher returns.
  • ETFs and Stocks: For long-term investments, ETFs and stocks can provide significant returns.

Investment Scenarios

  • Scenario 1: Saving from birth
    • If you start saving €100 per month from your child's birth, with an average annual return of 5%, in 18 years you will have accumulated approximately €34,000.
  • Scenario 2: Investing in ETFs
    • If you invest €200 per month in an ETF with an average annual return of 7%, in 18 years you will have accumulated approximately €86,000.

2. Child Insurance Plans

Some insurance companies offer child insurance plans that cover education costs.

  • Scenario: Child Insurance
    • If you purchase a child insurance plan with an annual contribution of €1,000 and an average return of 4%, in 18 years you will have accumulated approximately €25,000.

3. Educational Loans

In Greece, there are student loans with low-interest rates for students.

4. Scholarships

Many universities abroad offer scholarships for students with academic excellence or athletic achievements.

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