Saving schemes for university fees

trojan1

Hi

As a new member, I am looking or advice on saving schemes to help my children pay university fees - any advice?

a&akay

Our strategy - we promised and gave our 2 sons the full fees. They then proceeded to apply for and get the full student loan and lived the life of Riley at Uni. Now at 30 when they want a deposit for a house they have had to really struggle. Our 2 daughters, one at Uni the other next year, will get the same but theirs goes into an ISA in their names which will be released to them as a deposit on a house when they need it, about £20k each. They will live on their student loan plus checkout girl earnings from the local supermarket. They need this to enjoy Uni, about £2k required a year. I have a non working wife so all savings per month go into a high interest account tax free eg Kaupthing. If regular savers are on offer eg A&L at 12% tax free then the Kaupthing is used to drip feed the regular. There are a few more offers like this appearing so keep a look out. Pay into the ISAs each year to build up to the student fee and living expenses amount.