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Credit crunch 'hitting parents and private schools'

Posted on 11th September 2008

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Private schools are having to reconsider how they distribute their funds in the wake of the credit crunch, it has been claimed.

Regional editor at The Good Schools Guide Sue Fieldman said some of the independent sector have had to postpone plans to upgrade their facilities due to uncertainty about the economic future.

Furthermore, she noted, more parents could abandon private schools due to soaring costs, which could have a further impact on the sector.

However, Ms Fieldman acknowledged that this will not be felt yet, as parents would have to have given at least a term's notice to withdraw their children from school.

Nonetheless, schools are being confronted with "increasing expenditure and a prospect of lower fees", she added.

According to moneyextra.com's university fees and school fees guide, parents who are using their income to fund their children's education should consider taking on a term life assurance plan in case of the death of an earner.
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