OPM children’s education

Education could be the single most costly expenditure on a child, especially if the child has private schooling. Find someone else to fund your child’s education.

  • Get your employer to pay. Many companies give scholarships, interest-free loans, or low-interest loans to children of employees.
  • Help your child get a scholarship. Many private schools give scholarships to attract bright students to improve the institution’s academic standing.
  • Use pre-tax income for school fees. In high-tax countries, this tactic can be worth a lot, especially if you are self-employed.
  • If the above approaches fail, send the child to a government-funded school, so long as the quality is good. Example: In some countries, there are schools identified as special or selective.
  • Borrow books from the library instead of buying from the bookshop.
  • Choose low-cost non-academic activities. Examples: Choose activities like debating, martial arts and scouting instead of fencing or rowing.
  • Choose a school nearby if possible so that the child can live at home.
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