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Options to fund daughter's tuition fees?
Options
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Are there any union or company related organisations that you or your wife could apply to for funds? SSAFA, BWC, Unite or something?
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My wife and I are 55 but we only have £2000 in savings. Mortgage is paid though. Fee needed for course and travel about 15,000Which would be best way to find funds?
Withdraw 25% of my private pension. I have 3 seperate ones about 100, 000 in total. Can I withdraw 25% tax free from each of my pensions?
£2000 is a relatively low level of savings already. If you spend this and you need a new boiler or whatever, how are you going to pay for it ?
£100K is also not a high level for a pensions pot, so really you should be looking to add to it, not withdraw from it.
Would your daughter be happy to see her parents, scrimping and saving in retirement, or having to work into their 70's ? Or with equity release having potentially no home to inherit ?
I can understand what you want to do, but really think it through carefully as a family before doing anything.1 -
Thank you all for the helpful comments.
I think we all need to discuss other options even if it means defering for another year while she builds up funds.0
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