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Twefs offers guide to fund education

Tunbridge Wells Equitable Friendly Society is offering a guide aimed at IFAs and parents saving for a child&#39s education.

Given increasing funding costs and the longer period young people are remaining in education, the question of how parents are going to pay will become more important, says the friendly society.

A Brief Guide to the Financial Aspects of Higher Education is specifically aimed at encouraging younger families to start saving now. It det-ails some of the possible ways to build up funds to support a student through higher education.

There a number of issues involved, including student loans, tuition fees and living costs. It is estimated by the National Union of Students the total cost of sending a student to university for the next academic year will be £7,217 in London and £5,906 in the regions.

The union believes these figures could reach £11,244 and £9,201 respectively in 15 years.

The friendly society highlights how its university bond can be used to offset some of this burden by paying out a lump sum each year of a student&#39s degree course. Under current tax rules, investors can put £25 a month tax-free into the bond.

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