We all want to give our children the best possible start in life and a good education is a top priority. However, this can be a lot more costly than you might realise.
The cost of putting just one child through school and university can easily run into tens of thousands of euro. If you have two or more children then you’re going to have to dig even deeper to keep the educational roadshow up and running.

Don’t leave it too late to plan!

The cost of educating your child can be expensive irrespective of whether your child attends a private or a public school. The problem is that many parents get to grips with the costs when it’s too late and end up having to fund everything out of day-to-day expenditure. Remember, the mortgage and other utility bills you have today will still have to be paid when your child starts school. The only difference is you will be expected to manage those household costs on top of your child’s education.

Your child’s first days at school are a big milestone. Their first day at school is also your first day of many years of (worthwhile) expense! The average cost of sending a child to primary school each year is €490. The total cost for one child in primary school over 8 years amounts to an estimated €3,920.

The cost of education gets even higher as your child moves into secondary school. The average annual cost of education for a child entering first year is €1,135. This results in a total estimated cost of €6,810 over the 6 years in secondary school.

A good education is the foundation for a successful future. However, many parents end up having to borrow to fund the significant costs of third level education. These costs can be particularly difficult to manage in the current climate on top of other existing loans including mortgages, car loans, etc

Something to think about!

It’s clear to see that the cost of education is high and increases over the years. So, wouldn’t it make sense to plan ahead and build up your savings year-on-year?
The table below illustrates just how much regular savings can grow with a Zurich Easy Access Savings plan. For example, if you saved the Government child benefit of €140 per month for 5 years (as at January 2016) from when your child was born, by the time they started school you could have built up savings of €9,158* in time to fund this crucial stage in their education.

See our flyer below, as Zurich have a special offer at the moment!!

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