Industry News
Cost of education soars
Posted on 10th December 2007
It is "startling" how much the cost of education has rocketed, an expert has commented.
Lucy Pope, media relations manager for LV=, said the cost of raising children and of supporting them through university has risen dramatically since her organisation began monitoring the cost in 2003.
She said: "I think the figures show that people need to start thinking about their financial planning as early as possible."
Research published by LV= last week showed the cost of raising a child from birth to 21 has risen to £186,032, which works out at £24.30 a day.
Parents who choose to send their child to an independent school could pay an additional £72,957 for a day pupil or £130,557 if their child attends a boarding school.
The research found that the time a child spends at university can be the most expensive, costing parents around £12,249 a year.
© Adfero Ltd