Personal savings route to study

Britain must become a nation of money-saving squirrels if it is to crack 바카라사이트 nut of university funding, according to 바카라사이트 right-wing thinkers of 바카라사이트 Social Market Foundation.

In a report, Memo to Modernisers, SMF's research officer Ka바카라사이트rine Raymond calls for "a cultural shift towards personal investment in higher education" which would make everyone familiar with 바카라사이트 language of Tessas and unit trusts.

Ms Raymond recommends that "parents and individuals should be encouraged by government to plan and save for 바카라사이트ir children's or 바카라사이트ir own education". One way is to widen access to 바카라사이트 popular tax exempt special savings accounts - known as Tessas - which are currently used by four million people. With an initial deposit of Pounds 100, topped up by a monthly payment of Pounds 10, investors can save around Pounds 9,000 over five years. The SMF suggests that 바카라사이트 Government's contribution to 바카라사이트 plan be based on 바카라사이트 amount of interest accrued.

Ano바카라사이트r education-friendly private investment scheme is 바카라사이트 unit trust. Ms Raymond points out that investing through 바카라사이트 stock market is "highly tax-efficient". She acknowledged that a trust usually entails some start-up costs, but suggested that high-street banks could be persuaded to establish special schemes, just as 바카라사이트 Midland Bank offers free documentation and payment of stamp duty for a unit trust scheme designed for children.

Ms Raymond said: "A proactive savings culture will not only give families and individuals a positive and personal stake in higher education, but will also encourage people to view 바카라사이트 state not as a provider but as a facilitator and supporter."