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~please note this an archived article and may include out of date content~  
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Investing Offshore

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Making the decision to educate a child privately is a path that leads to potentially many years of rising bills, sent with great regularity by the school’s Bursar. But once you have decided on this route for a child’s education, you need to have a financial plan in place to ensure that future fees can be funded on an on-going basis.

School fees for one complete academic year at a day school can cost in the region of £7,188; to board can cost as much as £16,476. (Source: The Independent Schools Council Information Services 2003)

Counting the Costs of funding a private education

Day school: £7,188 a year
Boarding school: £16,476 a year
School lunches (boarding schools and some day schools include these in the fees): £450 a year
Private bus to school: £360 a year
Uniform (including sports kit): £350 for new pupil, then £200 a year
Books: £200 a year (some schools do not charge but ask for the books to be left behind or paid for if lost)
Exam fees: £400 for a set of GCSEs (or £50 a paper)
Music lessons (one instrument): £660 a year
School trips: several hundred pounds, especially if this includes a tour abroad
Extra tuition: £10 an hour minimum to help children get through exams
(Source: The Independent Schools Council Information Services 2003)

(article dated 1/11/03)

 

Do your sums add up?
The reality is that you need to start saving or investing for school fees sooner rather than later. To find out how we can help you, please e-mail or contact us.

 

 

 

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