on air now

Should baby-boomer grandparents foot the bill for private school fees for their grandkids?

Baby-boomers are being asked to contribute to their grandchildren’s tuiton and private school fees as parents continue to feel the pinch, Scott Haywood says.

The Finance Guru says grandparents should contribute to the educational costs.

“Baby boomers have enjoyed an enormous property boom for the 2000s to 2018,” he said on 3AW Drive.

“They’ve also worked in a wage boom, and now most retirees are living on allocated pensions or pension funds that are completely tax free.

“It’s time they reached into their pockets…and paid for private school fees for their grandkids.

“A recent survey suggested 55 per cent of couples had asked their parents to fund private school fees.”

But Tom Elliott disagreed, saying they should be saving their retirement money and not dipping into superannuation.

“My view is, if you can’t afford to send your child to a private school, just send them to a state school,” he said.

Click PLAY to hear the full discussion on 3AW Drive