deanf
pfm Member
Not necessarily. My advice to anyone would be to start saving hard when your kids are born. That's what I did.
Both of mine came out of University debt free. When the first one went to Glasgow, we bought a 3 bedroom flat & kept it for the 7 years it took for both of them to get through the degree courses. For the first 2 years, we were able to rent out 2 of the bedrooms to 2 of their fellow students, when the other one started, one of the other students was turfed out to make way for daughter number 2, and for the final 2 years, we could rent out both again.
Then we flogged the flat for a very tidy profit.
When my first daughter returned to University to take a law degree, she was able largely to finance the endeavour herself.
Chris
I can't believe the parents of the 400,000 people who started Uni this year didn't think of that sooner. Although there is a slight flaw in the plan that you needed two students who's parents' priority was sticking food on the table to make it work.