Zurich Life have just released their latest Cost of Education in Ireland study. While it feels like we have just settled into the summer holidays, many will have already started to plan for the return to school and college in September.
So what did the result of the Zurich survey hold? One of the most notable findings according to Zurich was that the cost of primary school education is 42% higher than parents expect, while the cost of secondary school education comes in 21% above parents expectations.
Zurich have highlighted, following their survey that the annual school costs are as follows:
Primary: €830.00
Secondary: €1,495.00
Private School: €6,470.00
When your child hits college, the cost really starts to spiral!
The annual cost of sending your child to college looks like this:
With rented accommodation| €9,011
With student accommodation| €8,336
Living at home| €4,894
It is easy to see therefore how to see how the lifetime costs look like this:
With rented accommodation| €36,044
With student accommodation| €33,344
Living at home| €19,576
It is a daunting prospect having to accumulate such funds for each and every child you wish to give the best start in life too!
As Financial Advisers, the best advice we can give you is to start now – don’t delay. Saving little and often will ease the burden on an annual basis.
If you wish to discuss education savings, please do call us today on 053 9233640.
