The lifetime cost of our children’s education is a serious consideration for all parents.
The cost of primary school education is 42 percent higher than parents expect, while the cost of secondary school education comes in 21 percent above parents’ expectations, according to research conducted by Zurich Life into the cost of education in Ireland.
Education tier Annual Cost Lifetime cost
Primary School €830 €6,640
Secondary School €1,495 €7,218
College €9,011 €36,044
“Early and consistent saving is the best way to prepare for covering your childs’ education costs. Opening a savings account when children are under a year old will allow you to prioritise education costs before they become a significant financial burden,” said Jonathan Daly, Head of Retail Distribution and Propositions at Zurich Life.
At Efficient Financial we can offer a range of Savings Plans to suit a variety of family circumstances. Get in touch with Harry Crummy for more information on 087 951 3638 or 0402 32629