school fees saving schemes

[rproycon]

hi, seriously considering sending my only child to boarding school, fees 2008/09 € 16500 rising by 10 % p.a. aprox. is there any extra high interest, saving/investment scheme maybe with tax relief/incentive. to which i could start putting into now ? he would be due to start sept 2015, 80 months time, and finish june 2021, 144 months time.the money would'nt be touched until aug. 2015. any ideas ? R.P.Roycon.

 

[oldtimer]

It may be conservative advice but at this point and time, with the present financial situation, I would put money for a child into post-office saving certificates. They are state guaranteed, pay 3.53% tax free if left for the 5.5 year term which equates to 4.40% if DIRT applied, whch compares favourably with any 5 year fixed term account at the moment.