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 vital for parents to address this issue at an early stage. Costs can increase dramatically for students wishing to do 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 assumptions can be applied to remove a large part of the guesswork. We quantify your education funding needs and then suggest a clear solution to ensure that your child has access to the best education. Whether you have accumulated capital to earmark for education fees, or if you need to start accumulating each month, we can assist.
Factors to consider:
- Your child's age now
- How much have you saved so far?
- When will fee payments commence?
- What are the anticipated annual fees and how long is the course?
- Which country? Do you need to accumulate a particular currency?
- By how much do fees increase on average per year?
- Expected living costs (rent, food, etc.)
To discuss your child's education funding needs, please contact us.