School Fees Planning

Over the last few years, the Annual Consensus from the internationally renowned Independent Schools Council showed the cost of private school education has been rising in some years at twice the rate of inflation. The latest Annual Consensus carried out by the Independent Schools Council confirmed that on average, fees for 2016 rose by 3.3%, to £13,623.

As with any financial plan, planning ahead of time can save you money and help you work out exactly what you need to save now for the later years.  If you can work out how much you’ll need to cover the eventual school fees and over how long you can then work backwards and figure out how much you may need to invest now.  We can help you do this. It’s not unusual nowadays for the total cost per child to exceed the cost of an average UK home.

Schools do offer some form of financial assistance and you may be able to pay fees in advance, locking in today’s prices to avoid the inevitable hike in later years, perhaps from remortgaging or other means – we can work with you on this.  Around a third of private school pupils receive some help via scholarships, awarded to children with a talent for academia, arts or sports, or means-tested bursaries. There are usually discounts for siblings and if you’re really determined, pick your job or partner carefully as parents in the armed forces or working as teachers at the same school can save around 25 per cent on fees!

If you would like further advice or information, please call us on 0118 916 5480 or complete an enquiry form.

 

 

 

 

 

Macbeth Financial Services Ltd is an Appointed Representative of 2plan wealth management Ltd. 2plan wealth management Ltd is authorised and regulated by the Financial Conduct Authority. It is entered on the Financial Services Register (www.fca.org.uk) under reference 461598  |  Registered in England & Wales No. 8542176  |  Registered Office: 4 Commerce Park, Brunel Road, Theale, Reading, Berkshire, RG7 4AB

Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk