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Private school fees + University -- how much do you think?

6 replies

Page62 · 09/06/2008 16:25

i am in the process of insuring myself (in the event of death) and trying to determine the amount of money to leave the kids for private education + university fees (will be paid into a trust so it is protected from tax). I will be gettting legal advice on how to set these things up but really needed a feel for the total amount i would need for this (bearing in mind they will also sit in an account earning interest with money coming out bit by bit to pay the fees). I have a feel for private primary but no idea about secondary and how much uni fees and board and lodging cost. I cannot imagine the children will be boarding for secondary.
I was thinking of taking out insurance that pays £200k per child? (the kids are only 4 and 2 so if i get hit by a bus tomorrow, it's still a LOT of school fees to go).
Please don't turn this into a discussion of private vs. state education. I am just asking for help.

Thanks

OP posts:
QueenMeabhOfConnaught · 09/06/2008 16:35

Round my way, prep schools are about £9k per year and senior is about £12-£13k per year (not boarding). You need to add on about 8-10% per year for fee increases.

University - I would look at about whatever £5k-£10k per annum multipled by 6-7% pa works out at.

You need a calculator now!!!!

sophiewd · 09/06/2008 16:38

I did hear somewhere that at the moment a year at uni with fees and living is about £14K, as regards schools, have you any idea where they would go to school and maybe phone and explain the situation?

jura · 09/06/2008 16:42

This reply has been deleted

Message withdrawn at poster's request.

claricebeansmum · 09/06/2008 16:42

That is probably about right.

Don't forget you need to cover yourself for a nanny/housekeeper for running the home and looking after DC after school and in holidays.

Page62 · 09/06/2008 17:21

ok, that's really helpful. I might up that a bit for each one then.
Hopefully, we won't need it!

OP posts:
janinlondon · 10/06/2008 11:15

I calculated £250k per child when I did this.

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