Parents and grandparents see a good education as a necessity in today's job market, but tuition fees for private school and university both seem to be spiralling well out of reach of average working families. 

However with proper planning, these daunting sums can be saved for well in advance, giving our children and grandchildren every opportunity for advancement in the future. 

Saving is more crucial than ever, as parents who want to send their children to private schools face tuition rates that are rising well beyond the level of inflation. However, one trade-off for these high fees is that the number privately educated children gaining placements at universities is on the rise. Once children get their university placements, no matter whether they were publicly or privately educated, they face further fees of up to £9,000 a year.

Parents and grandparents who want to save for the next generation can work together by saving into products like the Junior ISA, which allow them to work together and contribute as much as £3,600 a year. However, what if you’re a grandparent who wants to save for your grandchild without the involvement of their parents?

Steve Weisner, an independent financial adviser, has received this question from numerous grandparents through’s ‘Ask the Experts’ feature. Mr Weisner said: "For grandparents where their grandchild has used their CTF or Junior ISA limits, or who may not wish to get the child's parents involved in an investment, a good option could be a Unit Trust or an OEIC (open-ended investment company). These are collective investments which can invest in a variety of asset classes from equities to property or corporate bonds. These can also be held via a variety of trusts from simple bare trusts to more complex discretionary trusts depending on the exact requirements, and there can be tax advantages to holding investments in this manner."

The experts at are not focused solely on Junior ISAs, as the needs of every family are different. They can provide a wealth of knowledge – completely for free – on any aspect of children’s savings or family financial planning. 

Notes for editors is a free independent online resource for parents and grandparents, making information on children's savings accessible and understandable. The site offers performance comparison tables and unbiased parent reviews in order to help you make an informed decision about how best to invest in your child's future. 
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