Bill_S

Sounds like the kids would be better off as plumbers, then

lansbury

Fully agree with those sentiments. While we have money put aside for our grandsons college in 13 years time the money is in an account in our name and we can use it if needed. Hopefully we will not have to but who knows what might happen in the meantime.

Also being "our" money it leaves him open to apply for any grants etc available at the time without being constrained by a college fund in his name.

I don't intend he gets a free ride through college as I'm a firm believer in you appreciating something more if you have to work for it. But on the other hand he isn't going to miss out through lack of funds. As someone said in another post you need a college education just to get a half way decent job these days.

The only condition is he doesn't go to the University of Oregon I am not paying for a bl**dy DUCK

Elvira

Lots of books on paying for college, eg:

http://books.google.com/books?id=ijb...age&q=&f=false

But the basics:

- invest in your own name, not the kids
- treat it like any investment with the same time horizon

orangemirror

Just started thinking about this myself. Kind of asumed i'd set up a 529 but reading this thread that now doesn't seem like such a good idea.
Cheers to all for the good advice.

jackar99

I put cash for my kids into a CD in my name as I was also concerned about penalties, etc, if I leave the US and need to take out the savings. I have a related question which someone might be able to answer. I've been out of the UK for almost 7 years (wife and kids as well) and I was looking at the possibility of returning to the UK and my daughter going into University there - say in a couple of years.

I'm concerned that she will be considered as an overseas student and will have to pay the much larger fees as the rules state that, although she is a british citizen, she must have been living in the UK for 3 years prior to entering University in order to qualify for the "home" fee rate which is around 3000/year compared to 10000/year for overseas students .

There is an exception where she can qualify as a "home" paying student as long as she was abroad due to her parents (us) being on temporary job placements. Does going to the US and working for an american company for a few years count as a "temporary foreign job" ? has anybody been through
this dilemma at all ?

Sally Redux

It all seems a bit cloudy. I have seen things saying there is room for negotiation and things saying definitely not. Maybe if you are on a temporary fixed term contract, still have your house in UK, otherwise not?

Bob

If you've got a greencard, then no.

jackar99

Good point - I don't have a GC, only an L1B, so this may count as temporary.
The following link explains the exception:

http://www.ukcisa.org.uk/student/inf...ategories_home

"If you can demonstrate that you have not been ordinarily resident in the relevant residence area only because you were, or your ‘relevant family member’ was, temporarily working outside the relevant residence area, you will be treated as though you have been ordinarily resident for the period during which this was the case."

So it seems that the educational institution would take the final decision on this, and therefore the result may vary. If someone has already been required to "demonstrate" this then I would be keen to see what had to be done.


http://www.ukcisa.org.uk/files/pdf/i...klist_ewni.pdf

jackar99

I managed to find some more info here:
http://www.liv.ac.uk/sas/administration/feestatus.htm
where it says:

5. Special ‘Home’ Classifications

The following categories of students are exceptions to the basic criteria defined above and may be granted a special ‘home’ classification subject to the production of all requested supporting documentation.

•Students who meet the ‘settled status’ requirements but who have not been ‘ordinarily resident’ in the UK/EEA for the required period only because they, their spouse/civil partner or parents were temporarily employed outside the UK/EEA. Provision will be given for this as long as documentary evidence is provided to substantiate the temporary nature of the absence AND evidence is provided that sustained links were maintained with the UK/EEA throughout the period of absence. The sort of evidence we would require in these instances is as follows:
◦Evidence of the fixed-term or temporary nature of the employment overseas. This should cover the full period of the absence and explicitly state its temporary nature. A copy of the actual employment contract(s) would be most appropriate. An official letter from the employer confirming the temporary position would also be acceptable.
AND
◦Evidence of sustained links with the UK/EEA throughout the period of absence, in the form of utility bills or tax payments on a current property, copies of bank statements showing regular activity or evidence of income tax/NI payments in the permanent country of residence.
The payment of tax in the UK does not in itself satisfy the requirements for ‘home’ fee status.

another bloody yank

I gave my kids a choice, I can start saving to pay for your college, or you can eat.

Englishtart

Sounds like a plan...

nethead

Yep, the same goes for our kids....

Jerseygirl

As our daughter didn't have a choice in moving here we covered all her uni expenses. Quite honestly I think kids who move from the UK through no fault of their own should be able to go back to a UK uni without paying international student fees.

Sue

Our neighbours daughter is going through that right now. She graduated college last year with a Master's degree in Marketing and couldn't get a job. Everyone wanted experience. She's currently working at Radio Shack cause it's the only job she could get. She even got turned down for a couple of low paying jobs because they thought she was too qualified. She's now wishing she had gone to work to gain some experience first before continuing on with her masters.

Duncan Roberts

No. The way I figure it is it's better for them to get loans and know what their education costs than get it all for 'free.' Plus, I'd rather put it all for our retirement and be able to take care of ourselves when we're old and be able to help out kids when they may really need it. I'd rather give them $35k for a down payment on a house or to help them if they lose their job or to pay for our healthcare than fritter it away on something they have to decide when they are 17 or so.