saving to send a baby to uni

julieanne13

hi :-) i have just had my first grandchild. i know how hard it has been for us and our kids paying for uni education. is there any way i can save to pay for the childs uni fees? thanks julie

Oldernotwiser

I'd post this on the Savings/Investment Board as it's not really to do with university/college.

Apart from anything else, nobody can know what the funding situation will be in 20 years time or whether your grandchild will even want to go to university.

Congratulations.

dawyldthing

If you saved a grand a year then by the time they get to 18 they would have 18k then interest of i'm guessing around 6k or there abouts if you invested then reinvested the money, which would help put them through easily. But even 200 pounds a year would give probably 5k in savings in the end which would help them towards it.

Apricot

Every penny helps when you're a student. Whether the money is used to pay tuition fees, buy books or fund accommodation I think it's a good idea to have something in place. However you obviously have to consider how many other grandchildren you are likely to have and whether you would be able to save the same amount for all of them as well?

beckeroo

Your grandchild will get £250 from the government to invest in a CTF (Child Trust Fund) which they can cash out at 18. I would just make a regular contribution to that.

Congratulations on your new addition.

jrrowleyws

In the next 18 years Universities will most likely change significantly, plus, University isnt everything. Your grandchild might not want to go!

Save by all means, but dont brand it a 'uni fund'