Do savings affect student finance?

Ma77hew

I am wondering if I start saving now for my 1 year old, in order to contribute to university costs, could her having savings, impact her ability down the line to apply for student loans/scholarships/grants etc.

Whilst coming out of university debt free would be a great thing to achieve, if the loan rates are lower than interest on savings, particularly is a JISA is used, it could be worth while taking out loans and keeping the savings.

No one has a crystal ball so appreciate things may change over time, but I don't want to end up limiting options if that makes sense.

I didn't go to uni so have no idea how the fee's/finances work.

Lokolo

Interest from savings counts towards income. Doesn't effect loans, only grants.

And given this is at least 17 years away I wouldn't even be thinking about it.

Universities may not even charge tution fees, or your DS/DD may not want to go to university.

faifai

You can get an ISA for your child. It shouldnt effect your student grant

agrinnall

faifai wrote: »

You can get an ISA for your child. It shouldnt effect your student grant

Hmm, 18 posts in 45 minutes in their first day on the site - I'm calling post builder and the spam will be arriving any time soon.