Affording University – Saving in Preparation
The controversy over the cost of university has recently centered on the rise in tuition fees, however the fact that the mechanics of the system mean that these costs (together with maintenance loan debts) will in practice only become payable when the student achieves a salary above a specified threshold, means that a financial strategy to negate the impact of tuition fees is a little trickier to define. The standard repayments might come so much later in life whilst making early capital repayments may well not be the most effective use of any pool of money.
However, you may still want to consider building a nest egg to avoid the debt built up by living costs, or to bridge the gap where loans, scholarships and grants may not. So what are the options available to a parent who is looking to provide financial support for their child when …
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