Investing 20K for school Fees

james_peter777

This is my very first post so hello to everyone and apologies in advance for anything that goes wrong.
I need advice on investing 24k primarily for school fees over the next three years. I need , I think , instant access as well as some sort of account that allows direct debits. Anyone had similiar posts/threads?

skippy64

How about opening & using a Nationwide Flex current Account from which you can then set up the eSaver account. Its very easy to transfer funds between the accounts plus you could use your miniISA allowance for the next three years & transfer monies to an ISA account also. The plus side of the eSaver is that there are no condtions/restrictions on how much & when you can access your funds. I only post this suggestion based on you wanting to have an account where you can use it like a current account having direct debit facilties.

Rikki

Can you tie some of the money up for a while. I staggered my investments to pay out each year to cover school fees.
It depends on what the fees are now and the predicted fees for the years you are investing for. School fees rise at a rate of about 10%ish a year.

james_peter777

Thanks Rikki. I need to pay 800 a month by direct debit. I can only open three ISA's for the family. What do I do with the rest. Are there good, safe, high interest accounts that dont tie the money up or penalise you for withdrawing additional funds for school trips etc? Ta.

Rikki

Do you prefer to pay by DD? Sometimes they make a charge for this facility. I pay mine each term.

ISIS is a good place to look for information on schools.

I used endowments originally to mature each year but they are not so good now. If I was looking now I would use a series of short term bonds, ISA's and a high interest deposit account. For DD you would need instant transfer to a current account.