back of head of college graduate

Discover ways to start saving for your child’s college education

Saving for education is a long-term saving goal that increases the further a child goes through school and on into college, so it makes sense to have a savings plan in place to ensure all their needs are met during a child’s life.  

For some families, there may be little left in the kitty to provide for their children’s education. Even if they are able to put away the monthly Child Benefit – €140 – from the time the child is born until their 18th birthday – it stops then – and if that accrued sum of money had a net return of 3% per annum, the total amassed would be just short of €42,000 – the precise amount required for a child’s 3rd level education without fees.

Many parents use their Child Benefit payments from day one for the purpose it is there – to help financially support the family through the years. Also, you cannot get 3% on ordinary deposit accounts now.

Savings for Education

We all want to give our children the best possible start in life and a good education is a top priority. However, this can be more costly than you might realise. The cost of putting one child through school and university can easily run into tens of thousands of euros. If you have two or more children then you’re going to have to dig even deeper to keep the educational roadshow up and running.

Saving for education picture of students

Financial planning

Saving for your children’s education can seem daunting, but if you save and invest wisely it doesn’t have to be. Knowing how to save for their future is important, but you don’t have to be a financial wizard to do it. You might just need some advice on a financial plan and review and adapt that plan to meet your family’s changing needs.

Grow your funds

We have a number of savings products suitable to a variety of savings goals. So if you’re saving for your children’s education and future, check out our saving options and start growing your funds today.

Saving for education options

Once you’ve worked out how much you want to save, you will need to decide how those savings are invested. The amount invested depends on how much risk you are prepared to take. Everyone’s attitude to risk is different. Choosing your own investment strategy will involve deciding on the level of return you are looking for and balancing it against the level of risk you are comfortable with.

Small changes, big results 

The cost of education is high and has increased over the years. So, wouldn’t it make sense to plan ahead and build up your savings year-on-year? Regular savings can grow quickly over a short period of time. Starting now and contributing to a Regular Savings plan can help ensure your child’s future education.

Getting started

We have lots of useful Saving Tools to help you start and continue to save into your children’s future. From savings calculators and budget tools, we are happy to help you with your savings objectives.

Warning: Past performance is not a reliable guide to future performance.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: These funds may be affected by changes in currency exchange rates.