Have you thought about how much it is going to cost to send your children to college? You may think it’s too early to start considering this, but when you realise the costs involved, it is something you should start planning for now.
Currently, the average cost to send a student to college amounts to approximately €9,940 per year. It is important to remember these figures represent 2008/2009 prices and do not take into account other college fees (including registration fees ) which will also have to be paid. Taking into account that the average student goes to college for a four-year period, the costs will be c€40,000.
o what can you do about this now? M&C Financial Services is offering excellent savings plans, designed specifically to help you prepare for this eventuality. By saving your monthly children’s allowance of €166 per month, you can expect to receive the following returns: After five years, €10,799.21*; after 10 years, €23,833.91*; and after 15 years, €39,319.05.*
*Above figures assume a return of six per cent per annum and show the projected policy value after payment of tax.
Tom Connolly, director of M&C Financial Services, said: “Having a child in college myself, I can see the costs involved on a weekly basis including rent, food, travel, electricity to name a few. It’s now I am glad that I started saving for this over 10 years ago. It’s a great help to know I have this money available now to help pay for his education costs.”
his savings plan offers you flexibility: you can vary the amounts of your regular premiums and also make lump sum lodgements should you be in a position to do so, with 100 per cent of your money invested from day one.
Don’t delay any further, start saving today by calling M&C Financial Services on 094 902 0677.
