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