Start Planning Today!
It’s never too early to start planning for School & University Funds.
SCHOOL FEE PLANNING
Start Preparing For School and University Fees Today!
A good education is an investment for the future, the return of which is almost impossible to estimate. However the cost of private and university education is continually rising. For secondary education at most international schools today, you can expect to pay around £12,000 per child per year.
In order to help you meet these costs, OIB and our network of professional independent financial advisors are able to offer truly flexible investment accounts that allow you to take regular withdrawals on a termly (to coincide with university or school terms), quarterly, annually or as one off withdrawals.
Calculating the Cost of School and University Fees
It all starts with calculating what you expect your future educational costs will be. After this you can use the calculator on this page to give you a good idea of what you will need to start investing. Starting your funding plan early will increase the likelihood that you will have all the funds you need to support your children through their education journey.
What You Need To Consider
The following list will help you avoid missing some of the costs that have the potential to shock you when the time comes to start paying for your children’s education.
Most expatriates will consider sending their children to private or international schools. However, new figures show that the total cost of such an education for children starting school at five and finishing at 18 is now in excess of £200,000.
More and more children are now going to university. This means the state is less and less able to provide for them without significant help from parents. In the UK grants no longer exist, fees have sky-rocketed, and loans can turn into huge debts.
The Push University Guide predicts that average debts may reach £53,000 for UK students starting in 2015, double the figure for 2011. The same survey says average annual debt rose 6.4% in the past year: faster than inflation. Education inflation is also running at an average of 7.5% p.a.
Even if fees are capped, there’s the rising cost of their accommodation, computers, transport, and food to consider. If your children are young now, those costs could rise to over £100,000 for three years of UK university education in the not too distant future. It’s best to be prepared.
Talk To An OIB Advisor
Speak to one of our financial advisors about your education goals and which investment account/s will help you meet your investment objectives. Whatever you do, don’t put this off. Delaying your education savings plan by just one year can have dramatic effect on the final amount available.
What You Need To Save
Use the following calculator to get an idea of how much you need to be saving in order to cover the education fees you expect to incur.
Look No Further.