School & University Fees Planning

• Private schools in the UK are very expensive and the average cost for boarding schools per year is higher than the average salary. The average cost for day-only private schools is £4,980 per term, or £14,940 per school year. Boarding school fees are a lot higher (at least 1.5 times on average) with the boarding school average cost in the UK being £11,763 per term, or £35,289 per school year. This means that 14 years of private school education (from primary school to the end of A levels) could cost approximately £494,046. University fees and living costs for 3 years can amount to approximately £45,000.
• Thus to educate your child from primary school to the end of university (until 21) the costs will approximately be £230,000.
• This indicative guide to the cost school fees can change significantly, depending on location, extra tuition, and extra-curricular activities, so, putting your child through a private school needs to be planned for carefully before you commit to it.

Source: https://thinkstudent.co.uk/how-much-does-private-school-cost/

In order to prepare yourself financially for these costs Old Bray Financial can provide tax efficient plans to help secure your child’s future.

For more information, please get in touch.