Existing clients can use these links to log in to the Infinity dashboard. Not a client? Why not get in touch to find out about our services.
Children are expensive, there is no question about it; raising a family can be one of the most expensive commitments of our lives. The cost of keeping up with trends in clothing, toys and gadgets can be daunting but pales into insignificance against the huge costs of education. Every parent wants the best for their children and that includes a high quality education. However the rising costs of university can put an enormous strain on family finances.
A professionally arranged education fee plan can provide a practical solution to this challenge.
The current economic climate is causing governments in Europe to move away from free or state-assisted tuition for undergraduate and postgraduate education. The UK government introduced tuition fees back in 1998 when students began having to pay up to $1,568 (£1,000) per year. In 2010 the Browne Review sought to remove the ceiling placed on fees. The outcome was a vote by the government to allow universities to charge up to $14,114 (£9,000) in annual tuition fees. In the coming academic year 64 universities will implement the maximum tuition fees for domestic students to $14,144 (£9,000) per year.
For the children of UK expats the situation is even more alarming. Even if they are British citizens they may be subject to the same fees as foreign students. The rules state that to qualify for the domestic fee structure a student must not only be a British citizen but also be able to show permanent residence in the UK for a period of three years. Consequently, children of expats may have to pay annual tuition fees applied to foreign students which can be as high as three times the domestic fees. As the chart below show the finance required is daunting.
For foreign or expatriate students, fees alone for a four year degree course can already be in excess of the equivalent of $100,000 at many universities. University costs are rising at almost three times the rate of inflation in the UK, a trend that is repeated in many countries and one that is unlikely to change in the foreseeable future.
Regular savings made into an education fee plan may well be the only way to keep up with these increasing costs. By spreading the cost of a university education over 18 years by starting an education fee plan from birth it may is possible to avoid the potentially crippling burden on your savings and income.
A well-managed plan can offer the flexibility to cope with lump sums as well as regular savings and is an excellent way to build up the necessary funds for your children to go to university. An education fee plan can avoid fees being paid from taxed income and can be supported by a payment protection plan to account for unfortunate changes in circumstances.
Long term financial planning is core to our business at Infinity and we are experienced in planning funding for both private schooling and university education. Contact us to discuss your requirements; our specialist consultants can work with you to create an education fee plan suited to your individual needs and circumstances.
This Site and the Content are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of Hong Kong (or located or established in) any other jurisdiction where the use of the Site would be contrary to applicable law or regulation or would subject Infinity Financial Solutions Limited to any registration or licensing requirement in such jurisdiction.
Persons (or entity) who is a citizen or resident of Hong Kong please click on the link below to access our Hong Kong Site.