New School Fees and University Fees Calculator
With over two thirds of Universities declaring that they will be charging the full £9,000 per year for student education in September reports are already coming in that many college leavers are considering ending their education now rather than saddling themselves with the huge debt. This will come as a great concern for many parents of college kids who had not financially planned for the massive hike in university fees and may be inclined to pay for the fees by borrowing the money themselves.
Graduation tradition
Those parents that have younger children at least have a little time on their side to plan ahead for this cost. But how much should you save? Welcome to our new School and University Fee Calculator. It is free for you to use and you can use it to work out how much money you need to save each month to have a pay for future School and University fees in the future.
In order to work out how much you should be saving each month for your childrens education cost you will need to make an assumption about what interest rate/investment return you are likely to acheive. Make sure you are realistic about this. For instance, if you are going to be saving in a cash saving account then you should be assuming a return of about 3% per annum gross. If you are investing in something else then you need to adjust your assumed investment return accordingly.
If you have worked out the monthly saving and would like the benefit of independent financial advice about the most appropriate savings vehicle for you then please do not hesitate to call me on 0845 0179 578 or contact us through your preferred channel.
Enjoy the new calculator and I look forward to hearing from you.
Kind Regards,
Rob Simpson
Managing Director
