Industry News

Parents worried about education costs

Posted on 30th July 2008

For Parents

For Student/Child

For Schools

Discounted goods for you and your child, for school and home

Rising fees and tightening household budgets have left one in five parents fearing that they will not be able to raise enough money to send their children to private school, according to new research.

The Skandia study revealed that 84 per cent of parents believe education is the key to producing well-rounded, happy children, so getting their sons and daughters into a good school is a priority, Easier Finance reports.

With the average annual cost of private schooling rising by 40 per cent over the last five years, 29 per cent of mothers and fathers are already saving up in the hope of giving their children a better chance in life.

Concerns about a state school 'lottery' and high house prices in the catchment areas of good schools means many are declining to take their chances with the state system.

"Parents still believe that money will help give their kids a good start in life - either by funding private education or moving to live within the catchment area for a good school," Michelle Cracknell, strategy director at the firm, commented.

A recent report from Halifax Financial Services showed that the average annual fee for independent schools rose from £9,627 in 2007 to £10,239 this year, although the number of parents choosing to send their children to such institutions continues to rise.
ADNFCR-921-ID-18709309-ADNFCR