Study reveals private schools concerned about payments
Research conducted with headteachers, bursars and finance managers at UK fee paying private schools has revealed that 48% of respondents are very concerned about a potential rise in children leaving their schools because parents can’t afford the fees. A further 47% are ‘quite concerned’ about this.
The study reveals that half (52%) of the respondents at believe at least 15% of parents are finding it difficult to pay their children’s school fees.
83% of those interviewed said their schools are spending more time chasing parents for payment of fees. Four of ten (40%) of those interviewed say that at least 15% of their school parents are on special repayment terms allowing them to spread the cost of their school fees.
The research was commissioned by finance company Premium Credit. Jennie Hill, chief commercial officer, at Premium Credit said: “With school fees rising by around 4% a year, we estimate that it would cost around £355,516 to educate your child at a private day school up until their final year of A-levels if they started reception class this academic year.”