Introduction to Education Fee Planning
Once they're in its tough to take them out...
Having decided to educate your child/children independently it's vitally important to take appropriate advice to ensure the continuity of their education. Imagine; all's well and affordable today, but how would you feel if times became hard and costs had to be cut, and you had to take your child/children out of their independent education?
Parents/Grandparents must be fully aware of the financial implications and be confident they can afford the fees throughout the selected term. If the costs of an independent education are not planned properly, at a later date this could prove serious for both the child and the Parent.
Why do I need education fees planning advice?
Comprehensive financial advice is important to review and assess the best manner to meet and protect future school and university fees.
You may be looking to spread the cost of fees; looking to invest a lump sum; or you may be one of those Parents looking to set up a regular savings scheme to provide funds to cover future fees, hence there are various factors to take into consideration.
For example, we would take into consideration the Parent's financial profile; attitude to investment risk, current tax rates, existing portfolio of investments and assets as well as other income. A plan needs to be drawn up to meet these substantial funding requirements as indicated here:
A quality education for your children at an independent school may cost you more than you have spent on your own home!