How do you finance private school?

bunny999

Mini_Bear wrote: »

Actually i now remember a close school friend of mine was privately educated until she was 9 as was he younger brother. I think the grandparents initially paid but then her parents wouldnt take the money and decided to put them in the local primary. She was very bright and it stayed with her all through school so i imagine just a few years in these places can give a child the necessary enthusiasm for learning and set them in good stead!
I wonder if anyone else thinks tax breaks for paying for private education should be allowed under government rule. as these children are not being funded through the state and as the parents are likely higher rate tax payers can the government not give a tax relief, even if its only a few thousand a year. Same with private healthcare.
Oh i just remembered - the government is broke

How about tax breaks for those who don't have kids and / or don't use the NHS.

Firefly

DS2 has applied to an independependent school for a sports scholarship to do his A Levels in 2010. This was suggested by a sports coach. We've got a long way to go yet but he'll be assessed academically, sportingly and then may be offered a 15% scholarship topped up with a means tested bursary. It would be boarding and with fees of over £30k a year we'll be needing that bursary!

Our feet are currently firmly planted on the ground but our fingers are very firmly crossed. He has the potential to very well in his sporting field and that is what they are looking for. He has been identified as gifted and talented in the other subjects he wishes to study too which all helps.

It never occurred to me that this would ever happen and although it hasn't yet, the whole application process has been a learning and positive experience for us both.

suki1964

bunny999 wrote: »

How about tax breaks for those who don't have kids and / or don't use the NHS.

So you have never seen a GP, been to a dentist or popped into casualty?

WOW - Im impressed

Lunar_Eclipse

grahamliza4 wrote: »

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.

Good point. I hadn't thought of this as an option, because both my girls are bright, so I'm considering academic schools. I will however investigate, although I suspect full funding won't be available and if I'm going to pay, I will choose the right school for each child (which will probably be different schools even thought they are both girls.)

Our closest private school (walking distance albeit non lit country lanes!) is selective but not academic. Their results are actually worse than our state school (a bit worrying) but they have fabulous facilities. And would definitely suit our youngest in ethos. I have actually dismissed it because it is also very expensive and has a reputation for taking rich but average children (not the best fit for us on paper.) However if bright children could still achieve in this environment (big question) and I got good vibes upon visiting, I should give it some careful consideration if scholarship was an option. I do also know a local parent (with a bright child) who chose it based on proximity, so I will have a chat with her.

Thank you for offering this alternative perspective; I'm quite excited!

bunty109

I was going to suggest looking at state boarding schools too: it might be worth looking carefully as up until last year my state boarding school only took weekly and full boarders. However, this year the school has taken day boarders and there isn't a catchment as there would be for day pupils. If you are very keen at the idea of private education you could look at weekly boarding at a state school as it's still cheaper than most private schools (well, ours is!).

Lunar_Eclipse

omelette451 wrote: »

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.

You're right, state education is suited to and does in fact educate the majority of children in this country; 93% of our population. I wouldn't say it provides an excellent foundation, but that is me being subjective; based on my personal perspective, direct experience and taking my own children's profiles into account.

My reference to narrow curriculum was referring to our obsessive focus on Maths & Literacy, particularly in primary education. But then comparatively little focus on sport, art, music, critical thinking etc. For example, I would like to see daily sport. It would have enormous benefits from the obvious fitness (good for girls, especially as teenagers!) and teamwork as well as improving classroom behaviour and academic performance, particularly amongst boys.

But I do understand the point you are making.:) And I can see the benefits of continuing in the state sector but being able to afford any extra curricular activities they choose (music lessons etc) and travel that we all enjoy and to some degree need because my husband is from the other side of the world. However your reference to toffishness and elitist backwaters doesn't help, whether or not this is from experience or perception. It's like me saying my local school is full of chavs. Ridiculous.

Little_Chicken

looby-loo wrote: »

Altogether we will have spent £210,000 on four children over 13 years. Averaging this out it is £16,100 a year or £1,350 a month and by looking at it over a long period of time is how we coped.

No 4 has one year to go. No 1 finished 5 years of uni this year. We had no help from grandparents. DS1 got a VI Form Scholarship of 25% but other than that we have funded every penny. It can be done. The most income we have ever had coming in is just less than £40,000 gross for the last two years but before that for six year it was £32,000 gross. Our mortgage wasn't too high at £290 month throughout most of the time as we have never moved house.

The reason we did it was that both state schools they could have gone to were in special measures and were for ages. We were just looking for a good education at a private school, not a grand public school

We started saving when DD1 was in Yr 4 when we decided in 1995. I didn't work and DH earned £22,000 which we lived on = living OS, old cars, cheap holidays

I started working part time when DD1 started and earned just enough to cover the fees, then just £4,500. Fees are now £11,500 and my now retired (7 years ago) DH earns nearly that part time so some role reversal has taken place.

There was just one year when we had a child in Yr 7, Yr 9, Yr 11 and Yr 13. The total fees were well over our gross income but we had planned for this and used the savings. We never asked for bursary as we didn't know we could.

All the children have done some trips e.g. French exchange but have never felt under pressure to take part in the expensive trips e.g. skiing. There is a great school uniform shop for buying and selling. Although some parents are rich there are lots of parents are in a similar position to us making sacrifices.

I don't think the children have missed out too much and they have all done well so far. Our house is not full of the latest new things. We had to have it valued a couple of years ago and the estate agent described it as 'family home in need of some decoration' and I have to agree. We haven't bought any furniture for over 10 years, except a bookcase from Age Concern for £15; the carpets are all at least 15 years old, as is the TV. We don't really have much 'stuff'. Oh, and I bought a 'new' car last year - an 'R' reg!

New car = one years school fees!

With £50,000 coming in it would be a doddle!

I loved this post.:beer::beer::beer::beer: A decent education is the best gift anyone can ever give to their child. I'm sure you'll be rewarded as you see them go off into the wider world.:D:D:D

Lunar_Eclipse

BB1984 wrote: »

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

I know that. Thanks for your story.

themaccas

Just thought I would add my thoughts....our children have been/are going to private school and once your children have started believe me you notice the difference. Our children and not high achievers or the brightest in the class but we have been given amazing 90% burseries from HM forces. Our DS1 went from age 10 and absolutely thrived, he was academically way behind his peers when he started and they admitted they thought he would have difficulty with his GCSE's. He ended up passing all 9 then 3 A levels and is now at uni. Our DD is at boarding school and her fees amount to £22K a year including specialist dyslexic tuition, our contribution is £600 per term. Our youngest is too young for any Forces bursary but we decided we would send him to private school from the start (our other 2 started in state education). We pay all his fees of £2400 per term plus £200 for learning support as he has some speech and language difficulties. It's not easy and we struggle and go without to afford this, we have a joint income of over £80K per year and a large mortgage. I am not sure that DS2 is in the right school and we are considering a move back to state for him to receive all the learning support he needs as it is costly in the private schools and he needs more than he is receiving. Other than that he loves the school so do we so we are not sure what to do. Our DD is coming up to the age she needs to move schools to senior and has decided she wants to leave boarding school. In view of her dyslexia, we have decided to send her to the local high school which has an outstanding ofsted and she is unlikely to pass the common entrance exam for another private school. So we could end up having both our children back in the state sector, having said that I have no regrets and I think the private schools our children have attended have been fantastic, they deal much better with behaviour, attendance, manners, their facilities are second to none and their teachers have always been available to talk to daily of needed.

I hope you find a way to send your children.

k1mmie

lostinrates wrote: »

Academic scholarships are not the only scholarships.

Some schools offer them for sport and music too. Many schools will offer a child who would qualify for both academic and music scholarships BOTH of them, significantly reducing the fees.

My son attends a catholic state comprehensive. However was playing a rugby game against a private school. The coach approached my son at the end of the game and asked if he was interested in coming to play for their school. He said no thanks.

That Sunday a couple of the lads from the school, approached my son at the rugby club they all play for and said the coach was offering a 100% scholarship if he accepted.

I had a discussion with him, and he said he was happy where he was.

So there are other scholarships out there. Alternatively if it is an option find a good state school. If your child is bright they will succeed wherever they go!