University/College Savings Plan

It is a savings plan that can start from the birth of a child. It allows parents and grandparents to start to save for their children and grandchildren. The plans are flexible and designed to ease the burden of rising educational costs. The plan can also be used to help the child start a business. A variety of insurance and investment choices are available as well

Can’t I just put the money in the bank?

Yes, you can. But that strategy won’t protect the savings for urgent family needs, a holiday, an extension to the house, a new car, death . What is the likelihood that your child will actually end up with the savings they are going to need?

Couldn’t we just get a student loan?

 We don’t know what the politicians have planned for us! Will student loans be available? Will the interest rate be affordable? Do you really want to saddle your children with a huge debt that will hold them back for several years? Will your children miss out on education because the thought of such a large debt is not appealing ?

How can I save fast enough?

We can help you with a few simple ideas to help your savings grow even quicker with our Education Fund:

*  Save a regular amount every month. You’ll then be able to adapt your lifestyle around the remaining amount and you probably won’t even miss it

*  Reduce your spending. Rather than giving lots of presents at birthdays you could reduce the amount you spend on presents and put money in the Education Fund instead. Ask relatives to do the same.

*  Reduce the amount you spend on socializing and other similar avoidable costs

*  If you receive an inheritance, extra cash, bonus etc.,  then add a lump sum to your Education Fund

*  Show your children that you’re saving for them, so that they will have money when they want to study. This is a two-sided benefit as it will teach your children about the benefits of saving too.