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Paying for University Education.
Finding the money to pay for higher education is becoming
tougher as grants have been replaced by loan schemes in recent
years.
Parents considered as being wealthy are now expected to meet tuition
fees and up to 25 per cent of living expenses. Students themselves are
expected to borrow the rest.
Recent Education Regulations have governed payment for tuition fees and
loans for living expenses. Depending on their level of income, parents
may be expected to contribute a proportion of a student's costs.
University Tuition Fees
Recent government proposals will introduce "top up" fees amounting to
around £3000 per year. The tuition fees will be deferred and will need to be paid
by the graduate once they start earning £15000 or more. This legislation
is proposed to replace the up front £1100 a year contribution and
will become effective from 2006. It is also likely that top up fees will
continue to rise in the future.
University Living Costs
Excluding university tuition fees, the living costs during the academic year should
be planned and budgeted for. The
combined burden of living costs and tuition fees could be substantial
for a typical 3 year degree course.
We have a number of flexible savings schemes that will help plan for
the cost of university education, please
contact us
for more information.
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