Call me crazy (DD is a teeny 7 weeks old but I'm a Lone parent and want her secure) I've been tentatively thinking ahead about some of my investments and property so that I'm comfortable to cover private education and what I "wrongly" imagined - university costs.
After research it's actually a false economy to pay for my DD approx £20k per year Uni costs instead of the traditional student loans...
www.telegraph.co.uk/finance/personalfinance/10245550/Martin-Lewis-Time-to-stop-calling-student-loans-a-loan.html
Does anyone have any advice or experience around this. My daughter is only 7 weeks old but I want something in place now to save over 17/18 years.
I currently have a Junior ISA in place which will build up a really nice amount for when she reaches Uni age, and a buy to let property designated for her to either rent out and have the income as an allowance (60% equity currently with the hope to pay off the mortgage by the time she is 18). OR live in if she chooses a Manchester University where we live and rent out the second room to a friend for a small income boost.
This is new territory for me, I didn't do Uni and none of my family have ever been to private school either, not sure where to start just that I want to make the right choices for DD.
After a decade of hard graft I've a few things built up and saved that could make a real difference to her to have the start in life I didn't have but you never know what's around the corner either and things may not always be this way....
I'm also looking at level term life insurance for 25 years, again new territory! Ahhh
Anyone willing to share any experience I would be very grateful - my extremely tired whirring mind is getting a tad overwhelmed haha
;-)
Please or to access all these features
Please
or
to access all these features
Talk to other parents whose children are preparing for university on our Higher Education forum.
Higher education
Is funding your DC Uni costs a false economy?
16 replies
Newmamatobe · 29/03/2016 00:02
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.