School Fees – Back To School - Brewin Dolphin Report
4th September 2013
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Tim Walker Head of Office and Divisional Director – Brewin Dolphin Exeter

As recent figures show that the average cost of raising a child has risen to £148,000 from birth to 18, many parents who would like to educate their children privately might find it difficult to juggle their finances. However parents who are concerned by the costs of private education could give their children a better chance to secure a university place for just £210 a month.

And if you wait until your child is 11 to put money aside, the amount required could still be under £600 a month; a more affordable sum than the huge figures required to send a child to private school for their entire education.

“School fees are expensive and are rising by more than the rate of inflation,” said Tim Walker Head of Office and Divisional Director, Exeter Ofice who produced the figures, which take into account expected above-inflation increases in school fees.

“Families are feeling the financial squeeze, particularly in a year when the cost of bringing up a child has risen and child benefit has been cut for many. They are having to make their money work harder. Unless you’re fortunate enough to be able to pay school fees from savings or have a large annual income, an alternative is to save money monthly to pay for a private 6th form education, which can be the most influential years of study.”

Notes

The Brewin Dolphin calculations assume an average price of 6th form private school fees at £16,195 per year. School fees inflation is running at approximately 5pc per annum. Investments are assumed to grow at an average of 7pc a year. 

Disclaimers

If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.

The information contained in this presentation has been taken from public sources and is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness.

The value of investments can fall and you may get back less than you invested.

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