The Telegraph is reporting that one of Britain’s most famous private schools is offering bursaries for children whose parents earn £120k a year.
London-based St Paul’s, which charges £7,827 a term, is offering discounts to families on a combined salary of £120,000, after headmaster Professor Mark Bailey admitted the school had become “unaffordable”.
This comes amid concerns that private school fees – which have risen by 550 per cent in the past 25 years and now cost up to £30,000 annually per child – are affordable only to wealthy foreigners. “The part-bursaries are being offered in a far more generous way,” he told The London Magazine.
Research shows fees are their least affordable since the 1960s and that the children of previous generations who were able to go private schools will no longer be able to do so.
Lucy Elphinstone, head of Francis Holland School in west London, said: “The [current situation] is fuelling desperation among parents, which is having a detrimental effect on children’s mental health.”
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