Planning for unexpected education costs in 2022

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According to Stats SA, education fees increased by 4.1% in 2021, compared to 6.4% in 2020. Moneyweb personalfinance

Hybrid learning – a combination of in-person and online learning – requires investment in an up-to-date computer or a mobile device such as a smartphone or tablet. Speakers, headphones or earbuds are also needed to boost audio quality, while a webcam supports activities that require video feedback. A stable internet connection and sufficient data add to the costs. If your child experiences a growth spurt, extra uniforms could be required.

Scholarships: If your child is a high achiever in sport or academically, enquire about bursaries and scholarships. Life insurance: Should you be disabled or suffer from a debilitating illness, or even die, your child’s education would be badly affected. Consider a life insurance or education protection policy, as well as dread disease and disability cover. These will ensure continuity of your child’s education if you are no longer able to provide the finances.

 

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