School and University Fees Planning

Planning for education expenses is far more common than it used to be and has become a high priority for a number of families. Because of current pressures on the state school system and different educational practices more parents are now wishing to educate their children at Independent schools and a greater number of children continue their education into their late teens or early twenties.

This has created new financial demands on families, many of whom need to plan for the financial commitment of a child's education. These new commitments not only relate to the fees but now frequently involve meeting the young person's living expenses whilst at college or university. This has become particularly important since the changes to student grants.

Making long-term provision for a child's education is easily arranged. It could help you meet a heavy financial burden on your family. Some of the possible ways of doing this include:

Earmarking capital: By putting a lump sum to one side and investing it wisely a good proportion of the cost can be generated from investment returns. Combining this strategy with tax efficient investments and the use of suitable trusts can greatly ease the burden over time.

Mortgages: Some lenders now offer schemes which only charge you interest on the difference between the amount you are currently borrowing and the amount you hold in current and deposit accounts and have flexible schemes allowing you to increase your borrowing to a predefined limit when required.

Grandparents: lump sum gifts to suitable trusts for the education of grandchildren can not only assist with the payment of fees in a very tax efficient way but can also be a useful way of reducing the Inheritance Tax liability on their estates.
We are school fees planning specialists and are dedicated to helping parents who choose to educate their children through the Independent Schools sector.

We offer independent advice to parents on an individual basis. We can produce a full school fees illustration and bespoke solution that can include:

• Immediate solutions for current fees - school fees special reserve

• Budgeting for future fees

• University Costs

• Immediate solutions for current fees

Many parents would like to know the outline costs in order to make a decision on what schools they would like their children to attend. We can provide you with a complete breakdown, term by term.