Financial News
Affording a future for your children
It has always been expensive to educate children in nonstate schools and universities, and recent demonstrations in the UK against education cuts and increased tuition fees, are evidence that things are not getting any easier.
Affording private-school education
The average termly fee at an Independent school is:
• £3,571 – day fee at a day school
• £4,666 - day fee at a boarding school
• £8,033 – boarding fee at a boarding school
Source: Independent Schools Council census 2010
And this is before you buy them uniform, books, games equipment and other necessities. If a second child moves into private education, especially at the higher levels, you could see some hefty bills coming in.
Affording university education
A recent survey shows that the UK’s universities are going to be some of the most expensive state universities in the world. Of course, they are also considered to be some of the best too – but can you afford them?
With top-up fees for students rising from £3,290 to £6,000 a year (£9,000 in ‘exceptional cases’) it is likely to be very difficult for many parents to fund learning and living expenses without having established an investment mechanism to pay for some, if not all of the costs.
It has always been expensive to educate children in nonstate schools and universities, and recent demonstrations in the UK against education cuts and increased tuition fees, are evidence that things are not getting any easier.
Affording private-school education
The average termly fee at an Independent school is:
• £3,571 – day fee at a day school
• £4,666 - day fee at a boarding school
• £8,033 – boarding fee at a boarding school
Source: Independent Schools Council census 2010
And this is before you buy them uniform, books, games equipment and other necessities. If a second child moves into private education, especially at the higher levels, you could see some hefty bills coming in.
Affording university education
A recent survey shows that the UK’s universities are going to be some of the most expensive state universities in the world. Of course, they are also considered to be some of the best too – but can you afford them?
With top-up fees for students rising from £3,290 to £6,000 a year (£9,000 in ‘exceptional cases’) it is likely to be very difficult for many parents to fund learning and living expenses without having established an investment mechanism to pay for some, if not all of the costs.
So, what can you do?
For those with the time to do it, a tailored, regular savings plan is an ideal mechanism for saving sufficient funds to take the pressure off of your finances when your children get to the age of private education or leave home for university.
Of course, some of you may have left it too late to build up enough cash in a savings plan alone, but many people have been helped to overcome their late start by using existing funds or equity-release to help finance their children’s education.
We offer a free consultation and fact-find to anyone who would like to find out more about education planning – no matter how close your children are to school or university.
Use our contact form or the simple one below to find out more about us, and how we can help you.
For those with the time to do it, a tailored, regular savings plan is an ideal mechanism for saving sufficient funds to take the pressure off of your finances when your children get to the age of private education or leave home for university.
Of course, some of you may have left it too late to build up enough cash in a savings plan alone, but many people have been helped to overcome their late start by using existing funds or equity-release to help finance their children’s education.
We offer a free consultation and fact-find to anyone who would like to find out more about education planning – no matter how close your children are to school or university.
Use our contact form or the simple one below to find out more about us, and how we can help you.
Please note that this is our understanding of the UK Government’s education plan as at December 2010. A fact-find and
specialist financial review will be conducted prior to any advice being given about education planning.