Private School Fees
Private school fees in the UK are only payable at independent and private schools. The average private school fee per term for a day school is about £3400. Day pupils at boarding schools would pay an additional £1000 in private school fees on average. Boarding School fees for boarders cost on average £7800 per term. Over recent years, school fees have been increasing at around 6% per year.
There are large regional variations in private school fees, the South being generally more expensive than the North. Private school fees also rise as the children get older, senior school fees being appreciably more expensive than preparatory school fees.
Parents normally pay private school fees termly in advance, but discounts may be applicable if private school fees are paid annually. Further reductions for school fees are normally offered for siblings.
The overall annual cost of educating your child is likely to be higher than the cost of private school fees alone. Additional expenses are incurred for school uniform, sports equipment, school lunches, music lessons, extra-curricular activities and additional tuition.
Many schools provide assistance towards school fees by offering scholarships for children for high achievers in academic studies, music or art. These are normally awarded by exam results or an audition. Scholarships normally don’t cover more than 50% of the private school fees.
Bursaries are means-tested, may also be available to cover part of the private school fee bill for pupils whose parents could not otherwise afford the full cost. They are awarded at the discretion of the school, which may set specific criteria.
Financial assistance towards private school fees may also be available from educational charities. These normally reserve awards for children whose parents can demonstrate a genuine need for an independent education or to enable a child to complete the current stage of education in the event of an unforeseen change in circumstances.
Planning your private school fees is vital. Private School Fees are likely to be the largest expenditure encountered throughout your lifetime. SFIA are the leading School Fees Specialists in the UK and we aim to make school fees less taxing. A key strategy to make private school fees affordable is to pay them over a longer period, but even for those that can afford school fees, we can offer plans that utilise tax you have already paid (or about to be charged) to fund private school fees.
Contact us, to discuss this further with the option of a free, no obligation, consultation at a place of your choice.