MORE INFORMATION - COSTS OF UNIVERSITY EDUCATION

If we take today’s costs of university education as set out by the NUS Press Pack 2005/2006, then a three year course costs £8,810 a year, and £27,096 for three years. This assumes the £8,810 figure is indexed by 2.5% for the next two years.

If we project forward from the current figures assuming 2.5% inflation here and you need to target for funding university costs for three years starting in 2011, the overall figure might then be around £30,548. The new tuition fees if enacted from 2006 would add to this figure by £8,000 or more.

To be sure of accumulating such a fund, parents might need to save a figure in the range of £465 a month

Equally, if you need to target for funding university costs for 3 years starting in 2016, the overall figure might then be around £34,562. The new tuition fees if enacted from 2006 would add to this figure by £11,000 or more.

To be sure of accumulating such a fund, parents might need to save a figure in the range from £230 a month.

If you would like help on how best to invest while children are young to plan for future school fees or university education costs, or if you wish to remortgage to create capital that is needed now, then do contact us, or go to the Enquiry Form.