School Fees Advice

How can we help with your school fees advice?

At Worldwide, our school fees advice covers planning for the costs of private schooling as well as for higher and further education.

Our Financial Times award winning advisers are on hand to assist with every aspect of school fees advice. If you have children, the cost of their education now and in the future is likely to be a pressing matter given expected changes in funding requirements. We can help you with either forward planning or finding immediate solutions.

As well as school fees advice, your dedicated independent financial adviser here at Worldwide can help you plan and budget for university costs.

Call your FT award winning independent financial adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you to assist with your school fees advice.

Our fee guarantee: You won’t pay any fees unless we can help you.

If you are choosing private education, it can be the biggest financial outlay you make after your house. This makes advice to choose the best option vital.

Our school fees advice service

As soon as you contact us, you will be appointed your own dedicated independent financial adviser.

The initial consultation with your adviser will be free of charge and obligation.

Your adviser will discuss with you all your school fees needs before researching all available financial solutions to find you the very best option.

As we are independent, your school fees advice will be provided from the unlimited solutions available in the market. Whether it’s immediate needs such as equity release or a remortgage, or alternatively saving and investing for future needs we are happy to help.

When you are happy for your adviser to proceed, they will assist you with all the applications, paperwork and information gathering necessary for your school fees advice.

Every case is individual and we tailor our school fees advice to fit your circumstances and requirements.

Did you know?

There are many solutions. For example did you know if you saved into an offshore bond, the growth rolls up free of tax? If you assigned the bond to a non tax payer (an 18 year old student) and they encashed the bond there may be no tax to pay if the gain is within their income tax limit. So you would have tax free growth and distribution.

But did you know that an offshore bond can also be the most costly method of saving? Especially if there is commission paid on the plan as this is not a reclaimable tax expense for the life insurance company.

The best school fees advice could save you a small fortune in tax, investment growth or interest rates.

I’m considering private schooling in the future for my children; is it best to take school fees advice now or when my children start school?

We always recommend that you take school fees advice and start planning as far in advance as possible. When the issue of school fees arises, the reaction could be to panic and seek out a quick, short term solution. But this can be expensive. The earlier you put financial plans in place the better.

You will then have greater flexibility and more options. Taking school fees advice should be an important part of this planning. Some of the more cost effective long-term financial solutions are:

• deposit accounts

• fixed savings plans

• offshore bonds

• zero bonds (these are bonds that pay no income but give you a fixed amount back at the end of the term)

• gilts

• Remortgaging or equity release

• equities (stocks and shares)

• National Savings and Investments

• friendly societies

• using your ISA allowance.

What other costs do I need to take into account when budgeting for school fees?

Other costs will vary from school to school, depending to a great extent on location and services provided; for example, if your child is boarding at the school it will be more expensive than if they are a day pupil.

As well as fees, costs are likely to include things like uniform, sports equipment and so on. Your child’s school will be able to provide you with a list of necessary outlays to help you budget for costs.

When giving school fees advice, your independent adviser will help you take a holistic view of the situation, taking into account all likely and possible costs. They can also give you an idea of long-term costs – fees usually increase by 5% a year, a rate greater than current inflation levels.

Will I be able to receive any financial assistance to pay for school fees?

Depending on your circumstances, there may be some financial assistance available to you. Your chosen school may have bursaries and scholarships available. Bursaries are likely to be means-tested.

Certain professions may be eligible for grants. A useful place to look is the Private Schools’ Directory and the Independent Schools Council and of course the school itself should be able to give you information.

What other school fees advice can you give me?

One piece of school fees advice that has proved useful to many people over the years has been to ask your children’s school about payments in advance.

The school may be willing to take a lump sum payment of fees in advance at a discounted rate; for example, if normally a year’s fees would cost £30,000 paid in instalments, they may accept £28,000 if paid in advance.

Call your FT award winning independent financial adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you to see how we can help.

Remember: You won’t pay any charges unless we can help you.

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