How do you finance private school?

Lunar_Eclipse

Misty_Blue wrote: »

The school has a scheme whereby the fees could be paid over a longer timescale, and this is what she did. It meant she was paying fees for a couple of years after I left school but she says she would definitely do the same if she had the time over.

I haven't heard of that before. Will see if any of our schools offer it.

Marcheline

Hi Lunar, I really do feel for you and I totally appreciate what you are saying. It sounds as though (if you really don't want to send your children to state school and if you really think a scholarship to go private is unlikely) then you might have to change your lifestyle to manage with the costs of private education.

For instance, have you thought about (and is it feasible!) to move to a cheaper house in a worse location? Or shopping in cheaper stores? Having no holidays, or cheaper ones? Driving cheaper cars or not driving at all? If you did all these things, do you think you could afford the fees then? If so, then are you willing to sacrifice your current standard of living to send them to school privately?

chivers1977

Lunar_Eclipse wrote: »

Not near enough to get in. I actually put our names down at one before the kids started school but was told that even then, the 'catchment' for day pupils was 1/2 mile since they are set up for boarders (originally and still primarily for Forces' children). I heard a couple of years ago that it was already more like 1/4 mile. We're a lot further away than that!

But I really appreciate your helpful input. Thank you.

Had a look at these: Boarding fees for Cranbrook in Kent

They are currently £2,950 per term for boarders from aged 13 - 16. New Sixth Form boarders are charged £3,175 per term.

Sounds as much as day private school to me!!!!!!!!!!

grahamliza4

ChasingButterflies wrote: »

We have 3 children of who attend independent school.

Household income without bonus is under 50k. However on DH's side of the family it is traditional that grandparents fund the education of their granchildren (previous generations have done this - it wasn't made up just for us )

However our choice to have so many (and with another one on the way) means that there will be no boarding school etc just a local day school (there is method in my madness )

Thinking about it we should really get saving for our lot :eek: :rotfl:

Fees are around 2.5k(each per term) for 8&6 year old and 1.5k(per term) for 4 year old. Fees for secondary schooling are around 3-3.5k on a rising scale.

There I think was a rule that for grandparents paying school fees it was tax deductable (I am not sure if this is still the case)

Worst case if they were for some reason that they were unable to continue we have saved enough to cover 6 months fees - which should give me enough time to find a job (if it came to it - any job!)

The bit about it being tax-deductible is rubbish - never was, isn't now, and never will be.

grahamliza4

Non-academically selective private schools will offer a number of full scholarships to children with High IQs, usually top 2% of population. This is to boost their league table ratings. Money does not guarantee you a bright child, and most fee paying schools have an entrance exam.

Basically, if your school isn't selective it will quickly fill up with less able pupils and slide down the league tables. Then nobody will want to send their kids there anyway and it'll lose money (private schools are run like a business), so they let in the brighest poor kids they can find for free to maintain a balance.

omelette451

Lunar_Eclipse wrote: »

our local state school is very good and on the up. But despite the fact that both my children are 'bright' and would be okay there (and ultimately might go there), I fundamentally disagree with the lack of individual focus in the state sector and narrow curriculum/opportunities comparatively. So would like to put my (lack of!) money where my mouth is, so to speak. I believe every child has an equal right to reach their potential and the state system is not delivering this.

That's just not true: the state system is, with a few (often well-publicised) exceptions, fantastic, and provides an excellent foundation in life for the vast majority of children in this country. Kids who want to learn and who have the right support at home will do well in pretty much every school. Far from having a 'narrow curriculum', children in state schools study a huge variety of subjects and get a far superior grounding in life; I think it would actually be doing a disservice to your children to closet them away in an elitist backwater only to perfect their toffishness.

You said yourself that the local state school is 'very good' and that sending them private would mean a substantial reduction in your own quality of life, at least for the time they're there. Honestly speaking, in my opinion it's a no-brainer. You want the best for your children, but sometimes it comes down to more than just money.

Spirit_2

DD is now at university but was at an independent school from Nurseruntil 6th form.

Pre-prep and prep school were not hugely more than good quality childcare (no subsidy in those days). I and Mr Spirit both worked fulltime and no one else could have paid the fees (even if we would have let them) we used to pay from earned income, had one terms fees "in the bank" as asafety net. We paid monthly by direct debit, over 9 months per year I think.

We got used to paying for it - a comfortable but not flash lifestyle in semi-detached cottage. Still had holidays, school trips, extras and horses.

BB1984

I went to private school from Year 1 to Year 7, then passed the 12+ and went to the local Grammar school. My parents were really not well off at all (we lived in a caravan until I was three!); they sacrificed a lot to send me and my sister there, and I'm so grateful.
I really want my kids (if and when they ever happen!) to go there, it's such a fantastic little school. But sadly, once again Labour is tightening the screw. The Grammar schools have been forced to treat all private schools as being out of the catchment area, so my old school is no longer a "feeder school". This means that the chances of a child being granted a place at the Grammar are much much slimmer. The headteacher (of the private) reckons that it might be the end for the school
My parents could never have afforded to send me to a senior public school, so if I hadn't gone to Grammar I would have gone to one of the not-very-good state schools. Would I still have done as well as I did? I'll never know.

Sorry, I digress - but long and short, people make sacrifices, private school does not necessarily equal "elitist backwater", to quote Omelette, above.

BB

DonnaP

Hi

This is an interesting thread.

I have twin DD's in year 1 and when they finisih primary school we would like them to go to private school. It costs around £3k per term per child, so would cost us £18k per year. :eek:

Oh the joys of twins! No spreading the cost for us. I'm a SAHM and used to be a Head of HR and could easily afford it if I went back to work. But at what cost? Not just financial, but cost to our quality of life??

It is a few years off - we could always win the lottery. :rolleyes:

Donna

mdean

looby-loo wrote: »

I don't think the children have missed out too much and they have all done well so far. !

Apart from mixing with a range of different people