It may be stating the obvious, but school fees are expensive. It’s been estimated that between the ages of five and 18, each child will cost on average of £200,000 to educate privately – that’s a fair chunk out of anybody’s income.
If your children go on to university, and if you choose to help them with their tuition fees and maintenance – either by topping up their student loan, or in lieu of it altogether – you can add many more thousands of pounds to that figure. Most universities charge the maximum £9,000 a year allowed for tuition, and for some institutions this will increase because they have now been allowed to link fees to inflation.
So if you decide on private education for your child or your children, how do you go about making a school fee plan?
Saving for school fees is like saving for any other sizeable purchase – it’s all about planning.
How do you make a school fee plan?
The team here at Hartsfield can help. We’ll give you objective advice on savings options and help you come up with an approach which fits in with your personal financial circumstances.
We’ll work with you to devise a school fees planning strategy which enables you to support your children throughout their education, right from early years education and on through university.
Please get in touch with the Hartsfield team to talk about saving for school fees.
INVESTING FOR CHILDREN GUIDE
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