Starting early and being proactive in saving for your children’s tertiary education
expenses can have a positive impact on your finances. Some popular investment options for saving for education are an education policy (usually an endowment policy), unit trusts or exchange-traded funds, and a tax- free savings account.
The choice of investment vehicle should be based on factors specific to your financial situation and goals, including your time horizon, investment flexibility, return expectations and risk tolerance.
If you do not save or invest for your children’s education, you may need to take out a personal loan or act as a guarantor for your children’s student loans. Both options involve paying interest, which increases the overall expense of education.