Articles

EDUCATION & UNIVERSITY FEES

More and more children go on to university. Which means that as a parent if you are not entitled to Government help with their tuition fees and cost of living expenses it can become a very expensive exercise. As a parent it is prudent to save over a short period of time to provide for an expense that is increasing at over 5% per annum. Even if fees are capped there’s the rising cost of their accommodation, computers, transport and food to consider. When your children are young, university seems a lifetime away. But they come around very quickly.

Careful planning for your children’s university education can help cover the costs and spare them the debt created by high fees and increasing costs of day-to-day living. It’s a debt that could take them up to 30 years to pay back and seriously affect their ability to afford a comfortable lifestyle in the future debt free. Acting now will make a big difference. The cost of living is continuing to erode your saving power, so the sooner you plan the more you can save.