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Investing And Supporting Student Loan Pay Outs

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Quite simply, with daughter No1 going to college next year, and No2 two years later, any ideas of schemes that you can pay into for shelling out later?
They have been in private school since year dot so we are now into saving money, but looking for ideas where we can offset what we give to her (they will both be taking up the student loan options) into some account that will gain money (of any description) as well as supporting them at the same time.

Any suggestions?
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