Investment for 18 Year Old

In a bit of a quandary. My 18 year old is hoping to head to uni in September. There is a children's bond maturing with £4353 and I don't know if we should use it to top up the loan, replace the loan with the cash or put it in a life time ISA or something else. Want to make the best of this opportunity and not sure what to do.

Comments

  • Reaper
    Reaper Posts: 7,277
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    I have no expertise on student loans but I wouldn't replace the loan with savings as it's cheap and might never have to repaid. Have a read here:
    http://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes
  • butterflymum
    butterflymum Posts: 987
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    I don't know if we should use it to


    Do remember, though, that as your 'child' is 18, the maturing children's bond (assuming it is a National Savings one), will be payable to them and they will then be free to use the money in whatever way they wish. You can offer guidance and suggestions to them and in doing so, hopefully help them develop good, financial awareness and make a wise choice with regards what to do with their money.
    butterfly )i(
  • xylophone
    xylophone Posts: 44,140
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    What exactly do you mean by "children's bond"?
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