Private education - finding the money

The decision to send your child to a private school is athe child a good start at a good pre-prep school and
very personal one. There are parents who make thissee how it goes.
commitment soon after, or even before, their childThe cost of private education using an averagely
arrives in the world. The child's name may be putpriced pre-prep school from the age of four, through
down for the parent's choice of independent school.prep school and on to an independent senior school
Quite often the school may be the one which a parentcould be as much as £200,000 plus. More if a
attended or one chosen because they wish the childboarding school is chosen.
to be educated according to a particular religious belief.In the case of parents who have pre-planned their
There are also private schools catering for childrenchild's education, it is likely that they have built provision
with special needs as far as their education isfor the costs into their budgeting and there are various
concerned. Children with impaired hearing, problemsproducts geared towards this.
with vision or mobility or some degree of learningMany parents, disillusioned with the state sector, come
disabilities are catered for. Schools are available formore slowly to the decision to head for the private
specially gifted children, offering training in drama, musicoption and therefore have made no provision for the
or dance alongside a comprehensive academiccosts. In this case, unless you dip into your savings or
curriculum.have sufficient income, borrowing may be the only
All independent schools in England and Wales arechoice.
required to be registered with the Department forThere are tens of thousands of parents who are
Education and Skills. In Scotland and Northern Irelandmaking great financial sacrifices to give their children
the registration is with the Scottish or Irelandthe very best start in their education. Around a quarter
Executives.of these have average, or lower, incomes and are
The normal pattern of private education is kindergartenchoosing to go without holidays or other luxuries to
or pre-prep school from the age of four (sometimespay school fees.
earlier) and then on to prep school until the age ofThere has been a notable rise in applications for
thirteen when they move into a senior independentpersonal loans to fund private education fees and it is
school.expected that these will increase as more parents
Some parents choose to use independent schools fordecide to invest in their child's future. Around 620,000
part of their child's education, combined with statechildren are now educated in independent schools.
schools. They may decide to send their child to a localA recent study shows that not only are private school
state school for some years, before transferring himpupils more likely to attain better results, but also to get
or her to a private school for their senior years. Not allhigher-paying jobs than state school pupils who were
parents like the idea of the large comprehensive statejust as able and of similar backgrounds.
schools. The child may have attended, and made goodFor all the advice you need on loans, the internet is the
progress, at a smaller village school and the changeplace to go. Here you'll find advice and help and
may be something which worries both parents anddiscover the best way to fund your "personal
child. Alternatively the decision may be made to giveinvestment".