Nicholls Stevens have been helping families fund educational fees for many years.
Funding the cost of the education of your children can be a major financial concern for many families.
The cost of of fees can be anything between £2,000 – £8,000 per term, so if you have two or three children to educate, the costs can be enormous. In addition the cost of tertiary education is now increasing.
What action can be taken?
Bursaries can be investigated.
Some Schools offer their own schemes which allow parents to fund fees up front.
It may be possible to call upon contributions from grandparents. Funding of fees by grandparents can help overall IHT planning for the family.
School Fees Plan
Nicholls Stevens can draw up a cash flow model to see if sufficient resources are available to fund the fees
We will then make recommendtion for the investment of capital which is available
In some instances we may recommend a re-mortgage on a property which may bethe only way of providing funds
One of the key elements to any plan is to make sure that sufficient protection cover is in place so that if the main breadwinner dies or cannot work through ill health the school fees are secure
University Fees Plan
Do contact us if you need a School Fees scheme for your children or grandchildren
It is apparent that the cost of University Education is set to increase. Many families will struggle financially to send their children to University in the future. One solution may be for children to attend Universities in their home city or town to reduce the cost of housing but the cost of the tuition will still need to be paid.
The advantage of saving for University fees is that if you start youg, there is a good 15/20 years of investment,so this makes the scheme more manageable than school fees were the money is neeeded sooner.
Nicholls Stevens are able to advise on savings schemes which can be undertaken by parents or grandparents to help meet part of the University fees and if, in the end the child does not go on to tertiary education, a lump sum is available which canbe used towards house purchase