The Independent is reporting new research that suggests the cost of sending a child through private education has rocketed to £286,000…
Fees have more than trebled since 1990 and continue to rise above inflation, according to the figures.
The average cost per year of a boarding school place today is £30,369, while a day school place is £13,194 – 342 per cent higher than in 1990 – the Centre for Economics and Business Research said.
Over an education of 14 years from primary school to A-levels, that means today’s parent will fork out £286,000 per child for a day school place and £468,000 for a boarder.
“Even with two parents working, as fees outpace earnings, many professionals are now unable to afford private schooling,” adds the report, carried out for financial planners Killik & Co. “With total annual costs now worth 38 per cent of a doctor’s disposable salary and 59 per cent of an accountant’s, it is clear many professionals who traditionally send their children to private school may struggle…”
These are quite eye-watering figures and yet there seems to be absolutely no shortage of demand for places, at least amongst the big-name schools.
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