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College Fund for Helper’s Dependent

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  1. #1

    Join Date
    Feb 2009
    Location
    Gulf Region, ex Mid-Levels
    Posts
    1,933

    College Fund for Helper’s Dependent

    Hi, we have a helper we are very happy with. We know that she has a 15 year old daughter and are thinking about whether setting up an educational savings fund for the child in the Philippines is an idea.

    Has anyone looked at doing this before or has any ideas?


  2. #2

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,766
    Quote Originally Posted by fth:
    Hi, we have a helper we are very happy with. We know that she has a 15 year old daughter and are thinking about whether setting up an educational savings fund for the child in the Philippines is an idea.

    Has anyone looked at doing this before or has any ideas?
    She will have two years left in High School and then college if she wants. Note that unless she goes private this is now free. If she goes private then the fees can be paid throughout the year so as there is no time to build up a savings fund you could if you wish just pay the fees. There are also extras like uniform, books, school trips.

    Fees vary enormously but I pay HKD 5000 per year for school and HKD 12000 per year for uni.