Services - Education Fee Planning
The spiralling cost of a good, solid education is now a real issue for the majority of expatriates. Currently, to send a child to an average private school in the U.K. you are looking at 7,000 per annum and for a boarder it is over twice this amount. Imagine with this that you have two children and this annual sum doubles. Furthermore, if your children are small do not forget to add inflation to your budget. Alarmed? Most people are when they consider that the average bill for a day pupil based on seven years at secondary school in ten years time (with inflation) is around 100,000 per child and double that if you want them to board.
Similarly, as professionals themselves, expatriates are increasingly aware that a university education in the modern world is essential as more and more job providers recruit solely graduates. For UK Residents, University tuition fees are set to rise to over 3,000 per annum. As an expatriate you may not have been contributing to the UK tax system and so could be faced with fees three times the normal amount of tuition fees. Although you may be British, if he/she has not lived in the U.K. for at least a year prior to attending a U.K. University your child will be classed as an overseas student.
Many expatriate parents are facing University costs of over 80,000 GBP (140K USD/117k).
To find out how Abbey Financial Solutions can tailor a savings vehicle to help you provide the best start in life for your children, call us on 0034 952 887 270, complete our enquiry form below or go straight to our on-line investment designer.
