Saving plan for kid future

[Goldbug]

You meet medisave and minimum sum, you can ask CPF to waive the education loan your kid took

[flashbang]

If you have sufficient CPF, university fees can be paid via CPF. Only need to save up money for school expenses such as pocket money and books. Taking into account inflation, maybe $700/month in 15 years time? 4 year course means 48 mths x 700 = 33.6k.

 

You don't need to save all of it since you will still be earning money in future, but maybe hitting 50% would be good.

[L_club23]

Hi

 

Just to get a rough sensing, how much do I need to save for my kid studies in future. For local university, not overseas.

 

My daughter is almost 3yrs old. So, I should have about 15yrs to save.

 

How much do I need to save monthly to hit the minimum (prudent) sum for her?

 

Minimum is negligible... Isn't there still the deferred payment loan scheme for tuition fees...

[Little_prince]

Hi

 

Just to get a rough sensing, how much do I need to save for my kid studies in future. For local university, not overseas.

 

My daughter is almost 3yrs old. So, I should have about 15yrs to save.

 

How much do I need to save monthly to hit the minimum (prudent) sum for her?

local uni not so bad. CPF should be enough to cover. probably can cover by CPF

 

for overseas. set aside at least 300k. more if planning of medicine ~ 500k.

 

not only sch fee. need to take into account misc fee such as allowance, rental of housing. food etc. will add up to abt 2k per mth. and that's current rate. add in inflation. will be 3-4k/mth easily in 18 yrs time?