How does it work?

To set up a trust you set out your wishes for what you want the trust to cover. You select a Public Trust Investment Fund for the trust to invest in.

You, or anyone, can make a lump sum payment or regular contribution and the money remains invested until required for the child's education.

You need a separate trust for each child you want to provide for.

How does it work(continued)?

When money is needed for the child's education, we'll check that you've set up the trust to cover the expense and work out the best way to pay it. We can make payments straight to the education provider, and reimburse living costs.

Money in the trust can only be used for the child's education. Any money not used can be paid when they reach 30, or the trust can be wound up early if it's clear that it's not needed for their education.