How should I plan for university? Any opinions?

I’m a 21 yo NSF and enrolling into SMU next year and I’m hoping to not apply for a loan.

I’ve got a scholarship of 5k/year but it isn’t enough to cover school fees. My mum is a single parent & we’re not doing well financially so I wouldn’t want her to pay.

I’ve been doing my own investments with returns ard 7% p.a. I’ve $30k (25% BC, 25%REITs, 50% cash) and saving $400/mth.

I am trying to
A) get a better scholarship
B) re-allocate and invest more

Any tips/opinion? Or I can’t do w/o loan?

Discussion (25)

What are your thoughts?

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Ga ming

28 Jan 2023

Some universities offer tuition waivers for students who demonstrate financial need. Be sure to check with your school to see if you qualify.

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Rais M

26 Feb 2020

Accountant at SME

Original Post:

I am planning to use all the red packet and cash presents for our child, to save and invest it until she is entering university, to use it to pay her school fees. Where should we put the money in?

For my kids red packet and cash presents, I plan to give it to them when they turn 21 and use it to teach them investing directly.

For their university fees, I have purchased an education savings plan and also invest in the STI ETF and I plan to loan them these amount for their university studies. They are supposed to return it back to me. This is to teach them how loan works.

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Andy Sim

26 Feb 2020

HR Professional at a Financial Institution

Original Post:

I am planning to use all the red packet and cash presents for our child, to save and invest it until she is entering university, to use it to pay her school fees. Where should we put the money in?

Can try buying ETFs that tracks an index like S&P500 to get market returns, should be good enough for your case :)

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Geraldo L.

26 Feb 2020

Original Post:

I am planning to use all the red packet and cash presents for our child, to save and invest it until she is entering university, to use it to pay her school fees. Where should we put the money in?

Considering the long time horizon to ride out the volatility in the market, I would consider putting those monies into stock ETFs.

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