It can cost over $250,000 to fund a child through secondary private education and university, and it is not unusual for fees to rise between 3-5% per annum. It is therefore vital for parents to address this issue at an early stage. Costs can increase dramatically for students wishing to do their degrees overseas and many a retirement pot has been decimated by the need to pay higher education fees.
Education fees planning is not an exact science, but sensible and conservative assumptions can be applied to remove a large part of the guesswork before college starts. We quantify your education funding needs and then suggest a clear financial strategy to ensure that your child gets access to the best higher education. Whether you have accumulated capital to earmark for education fees, or if you need to start accumulating savings each month, we can assist you.
- Your child's age now
- How much have you saved so far?
- How long do you have to save before fees start?
- What are the anticipated fees now per annum?
- Which country? Do you need to accumulate a particular currency?
- By how much do fees increase on average per year?
- How long is the course?
- What are the expected living costs (rent, food, etc.)
- What is a realistic investment growth figure for the school fees plan?
To discuss funding options, please contact us.