Factors Influencing Parents’ Awareness of Children’ Education Investment: A Systematic Review

Andy Prasetyo Wati and Sheerad Sahid
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Andy Prasetyo Wati: Faculty of Education, Universiti Kebangsaan Malaysia, Bangi 43600, Selangor, Malaysia
Sheerad Sahid: Faculty of Education, Universiti Kebangsaan Malaysia, Bangi 43600, Selangor, Malaysia

Sustainability, 2022, vol. 14, issue 14, 1-13

Abstract: Parents’ awareness of the importance of education greatly influences decision-making on educational extensions for children. Because more and more parents are aware of the importance of education in supporting the survival of children in the future, parents will be more aware of expanding education to a higher level for the benefit of the children, the environment, and the future. The objective of this study is to identify the factors that influence parents’ awareness in investment decision-making for children’s education. To address this issue, we use Cooper’s approach combined with the prism method, which offers a methodological framework and reporting procedure for the current review. Six main factors have emerged to answer the objective of this study, namely out-of-pocket expenses, forgone earnings, returns on investment, educational design, educational process, quality of education, and competitiveness. These findings show that decision-making for education transfers is not only seen from the side of government policy but also from the family side, illustrating the need for continuous synergy between the government policy and parents’ awareness of it, so that the improvement of superior human resources through education continues optimally.

Keywords: parents’ awareness; cost of education; return on investment; educational planning; educational process; quality of education; investment in education (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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