Industry News
CTFs 'can help the cost of uni'
Posted on 11th December 2007
Parents should consider saving for their offspring's university education through his or her child trust fund (CTF), an expert has commented.
Lucy Pope, media relations manager for LV=, said parents who save "as little" as £35 a month could amass nearly £25,000 by the time the child reaches 21.
"It is a great opportunity for parents to save in quite a simple way - just any amount that they can each month - and the thing with regular savings is that they do build up," she added.
Additionally, grandparents, friends and other family can contribute to the savings, Ms Pope continued, adding that many people had began to give money for the CTF as Christmas and birthday gifts.
Last week, LV= released the findings of a study into the cost of raising a child from birth to age 21.
It revealed that the child's time at university could be the most expensive for parents, costing an average of £12,249 a year.
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