Education Fee Planning

Traditionally, independent education school fees have risen faster than the rate of inflation on a yearly basis. In the UK an independent survey carried out by the Independent Schools Council established that fee increases in 2007/2008 were at 6.2%. During the same time period, the average fee at an independent school was £3751 per term, £3023 for a day school and £4110 for a boarding school. In addition to these costs, you will need to consider uniforms, books, computers and other necessities!

If your children go to university, tuition fees and living expenses can easily exceed £20,000 per year and the average course is now either 3 or 4 years with some disciplines lasting even longer. Many leading authorities believe that it will cost you much more than £100,000 to put a child through private education!

Finding the money to fund your children's education is getting harder now that many grants have been replaced with 'student loans' and wealthier parents are expected to meet a proportion of the costs of tuition as well as living expenses. From the Autumn of 2012, the average cost of University courses will be almost £8,500 per annum, with many Universities charging the maximum amount of £9,000.

Expatriate Financial Advice can help and will introduce you to our approved partners who are experts in ' education fee planning ' offering a wide range of flexible solutions to meet every need whether you have a 'lump sum' to invest or are looking to start a 'regular savings' plan.

Whilst we understand that every individual client is unique and has differing requirements and financial objectives, the one piece of advice we can give to everybody is to 'start sooner rather than later'! The longer you have to save, the more likely it is that you will beat your expectations.

For a confidential, no obligation discussion with one of our approved ' education fee planning ' consultants, please contact us.