Whether you’ve been blessed with one child or ten, you’ll know that raising a family is a costly concern – and if any of your offspring decide that they want to continue their education through a university course then, as of 2012, your bank balance is really going to suffer unless you have planned for this expenditure.
In order to plan investments that will cover the costs of one or more of your children attending university, you’ll first need to know exactly how much money you are going to need so that there aren’t any nasty surprises.
From September of this year tuition fees can rise to a maximum of £9,000 per year for a full-time course and, unfortunately, the cost of university doesn’t just involve tuition fees. If your child will be going away to university, accommodation costs, even outside London, could easily be another £6-8,000 per year. This means a three year course studying away from home could cost you around £50,000.