Can I get help with paying my fees?
There are now a variety of options for help with paying for childcare. You will need to consider the options in relation to your own individual circumstances. Thankfully, there are some useful websites to help you make the right decision. Whether you have toddlers or teens, you could get support. We have put together some useful links to relevant websites below.
Pointing you in the right direction
Help with fees for working parents
Universal Credit is a new benefit for people on low incomes both in and out of work. It will gradually replace a number of benefits, including Working Tax Credit. It includes a childcare costs element for those who are working and paying for childcare which is available to parents even if they only work a few hours a week.
You will be able to claim back up to 85% of your paid out childcare costs up to a monthly limit of £646 for one child or £1,108 for two or more children. There are requirements for being able to claim Universal Credit depending on the hours you work, age of your child and your personal circumstances.
For full details visit: www.gov.uk/universal-credit
Tax-Free Childcare Scheme
Tax-Free Childcare is a Government-backed scheme which helps parents with the cost of childcare. Launching in April, it gives eligible families an extra 20% towards childcare costs but not everybody will be able to take advantage straight away.
Tax-Free Childcare is for:
- For working families, including the self-employed, in the UK
- With children under 12 (or under 17 if disabled)
- For every £8 you pay in, the government will add an extra £2, up to £2,000 per child
- Parents of children who will be under 4 on 31st August, and parents of disabled children, can apply now
More information can be found here: www.moneysavingexpert.com/family/tax-free-childcare
Lots of you will be familiar with childcare vouchers. These are provided to you by your employer (often through a childcare voucher company), and you can use these to pay for some of your childcare. Childcare vouchers will be phased out from 2018 and if you are planning to have more children, it is worth getting advice on the merits of entering the voucher scheme.
Childcare vouchers are for:
- For working families, in the UK
- With children under 16 (or under 17 if disabled)
- Up to £933 a year in tax and National Insurance savings
There is a variety of funding for student parents. This entirely depends on the type of studying you are doing (e.g. higher education, NHS study, degree study, etc), the age of your child and if you have a partner who works. For example, the Childcare Grant is available to those not already claiming benefits (e.g. Universal Credit) with a dependent child under the age of 15 years. You should consult with the institution you are studying with for more information.