FUND'S CHILDREN EDUCATION | ExpatWoman.com
 

FUND'S CHILDREN EDUCATION

22
Posts
EW NEWBIE
Latest post on 20 November 2014 - 10:31

Hi Ladies,

can you share how you fund your children education here in Dubai. My daughter is turning 2 , is it to early to think about it ? and what you do ? since you know education fee getting higher and higher every year.

Thank you :)

22
Posts
EW NEWBIE
Latest post on 24 November 2014 - 11:47
Why do people have kids and then only later wonder how to pay for them? Not to be mean, but you've got to think things through! You can send your child to one of the less expensive schools in Sharjah or something like that. Sorry ladies i guest there is misunderstanding, what i saying is her university education fund. she is 2 years old now. I want her can choose any university later on when she is 17 years old and have no problem with school fee. edited by sophia2012 on 20/11/2014 You can check on one of those insurance investment plans which requires monthly deposits ( you can start with AED 1500 and increase if you wants later and let's say after 10 years you can withdraw amount with profits ( I've taken one thru one of local banks, which provides life insurance for me and my husband, critical illness, hospitalization). You can choose different tenure 10 to 25 years. Alico has also one of those plans but there were some many inconvenient conditions so we opt for local uae insurance company HI Moon, can you tell me what is the name of the local banks that you have right now? thank you :)
1
Posts
EW NEWBIE
Latest post on 23 November 2014 - 20:52
Why do people have kids and then only later wonder how to pay for them? Not to be mean, but you've got to think things through! You can send your child to one of the less expensive schools in Sharjah or something like that. Sorry ladies i guest there is misunderstanding, what i saying is her university education fund. she is 2 years old now. I want her can choose any university later on when she is 17 years old and have no problem with school fee. edited by sophia2012 on 20/11/2014 You can check on one of those insurance investment plans which requires monthly deposits ( you can start with AED 1500 and increase if you wants later and let's say after 10 years you can withdraw amount with profits ( I've taken one thru one of local banks, which provides life insurance for me and my husband, critical illness, hospitalization). You can choose different tenure 10 to 25 years. Alico has also one of those plans but there were some many inconvenient conditions so we opt for local uae insurance company
345
Posts
EW EXPLORER
Latest post on 23 November 2014 - 13:51
Hi Sophia2012 - this is very forward thinking of you! I would put a little money aside every month, perhaps into a high interest (or as high as you can find) savings account or fixed deposit. the earlier you start, the more you will have once your child turns 18. If you have a fixed sum that you would like you have saved by the time your child turns 18, there are calculators online that will work out how much you should be saving every month. As with retirement saving, saving more in the early years is much better than saving in the later years. you could speak to a financial advisor but I would say be careful about signing up for the life insurance savings products offered by most companies here, as the fees are really high and the funds can be quite risky. Good luck! Yes KH, do you have any reference financial advisor? I come across that ADCB Bank has this program as well. Is it bank more reliable then any financial advisor? It depends on what product the bank is selling you - a high interest savings account or term deposit should be fine. just check the small print for fees and penalties before you sign up.
4062
Posts
EW MASTER
Latest post on 20 November 2014 - 15:28
hi londiamond, i am planning to put her abroad because as you can see here in Dubai School fee is quite ridiculous. Where are you planning for her to go? Foreign student university fees in our home countries are astronomical. It doesn't matter if you are a citizen, if you haven't been resident for a certain number of years before starting you are charged as a foreign student.
22
Posts
EW NEWBIE
Latest post on 20 November 2014 - 15:00
Why did you say [i'>here in Dubai[/i'>? The best instates are not here. However for the best education, it would be better to send her abroad. I do not know that your DH will ever reach a level where the co. pays for university, as I have never heard of this. Ever. edited by Londiamond on 20/11/2014 hi londiamond, i am planning to put her abroad because as you can see here in Dubai School fee is quite ridiculous.
22
Posts
EW NEWBIE
Latest post on 20 November 2014 - 14:59
Hi Sophia2012 - this is very forward thinking of you! I would put a little money aside every month, perhaps into a high interest (or as high as you can find) savings account or fixed deposit. the earlier you start, the more you will have once your child turns 18. If you have a fixed sum that you would like you have saved by the time your child turns 18, there are calculators online that will work out how much you should be saving every month. As with retirement saving, saving more in the early years is much better than saving in the later years. you could speak to a financial advisor but I would say be careful about signing up for the life insurance savings products offered by most companies here, as the fees are really high and the funds can be quite risky. Good luck! Yes KH, do you have any reference financial advisor? I come across that ADCB Bank has this program as well. Is it bank more reliable then any financial advisor?
984
Posts
EW GURU
Latest post on 20 November 2014 - 14:51
Companies will only pay school fees until children are 18, so basically finishing A-levels. No company would pay beyond that.
345
Posts
EW EXPLORER
Latest post on 20 November 2014 - 13:48
Hi Sophia2012 - this is very forward thinking of you! I would put a little money aside every month, perhaps into a high interest (or as high as you can find) savings account or fixed deposit. the earlier you start, the more you will have once your child turns 18. If you have a fixed sum that you would like you have saved by the time your child turns 18, there are calculators online that will work out how much you should be saving every month. As with retirement saving, saving more in the early years is much better than saving in the later years. you could speak to a financial advisor but I would say be careful about signing up for the life insurance savings products offered by most companies here, as the fees are really high and the funds can be quite risky. Good luck!
22
Posts
EW NEWBIE
Latest post on 20 November 2014 - 12:54
Why do people have kids and then only later wonder how to pay for them? Not to be mean, but you've got to think things through! You can send your child to one of the less expensive schools in Sharjah or something like that. Sorry ladies i guest there is misunderstanding, what i saying is her university education fund. she is 2 years old now. I want her can choose any university later on when she is 17 years old and have no problem with school fee. <em>edited by sophia2012 on 20/11/2014</em>
474
Posts
EW EXPLORER
Latest post on 20 November 2014 - 12:15
Why do people have kids and then only later wonder how to pay for them? Not to be mean, but you've got to think things through! You can send your child to one of the less expensive schools in Sharjah or something like that.
22
Posts
EW NEWBIE
Latest post on 20 November 2014 - 12:06
That is the problem , right now my husband still not in the position that company will pay for the school fee:(
984
Posts
EW GURU
Latest post on 20 November 2014 - 10:53
I'm seriously considering home schooling! I think the schools here are just ludicrous, the fees are getting just too much and any good new school only starts 50,000+ per year for FS1 and then increases in later classes. Ideally if you or your husband work for a company that is willing to pay part or whole of the school fees, that would be a huge help.
 
 

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