Industry News
School fees 'rise beyond inflation'
Posted on 31st March 2008
The cost of sending offspring to an independent school has risen significantly above the rate of inflation in the last ten years, a new study has revealed.
Research carried out by Halifax found that fees for private boarding schools rose by an average of 86 per cent between 1997 and 2007, almost three times the rise in the retail price index.
In 1997, the average boarding school's fees accounted for 55 per cent of average gross earnings, compared to 73 per cent in 2007.
The largest increase in average annual fees was in the West Midlands, with an increase of 96 per cent over the decade. In contrast, fees in the East Midlands have risen by the least, 70 per cent.
According to data from the International Schools Council (ISC), the number of pupils attending ISC establishments has fallen 14 per cent over the last ten years to 67,335.
A recent report from Engage Mutual Assurance revealed that more than half of parents admit they will be spending less money on their children in 2008 to counter increased living costs.