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Private schools "seeing the effects" of the credit crunch

Posted on 6th October 2008

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The credit crunch is having an impact on demand for private schools, according to one headteacher.

Headmistress at Wakefield Girls High School Pat Langham told the BBC that the economic climate is leading parents to "reconsider all aspects of their spending".

And this is affecting the level of applications, particularly as school fees have increased by 40 per cent over the past five years.

"Parents are considering very carefully the demands on their finances and then it is a question of priority," said Ms Langham.

However, Independent Schools Council chief executive David Lyscom told the news source that it is too early to tell if the credit crunch has affected pupil numbers, adding that parents are unlikely to want to upset their child's education.

Last month Hugo Shaw, an investment adviser at Bestinvest, warned private schools that they should avoid the temptation to offset rising costs by raising school fees, as this could lead to a reduction in applications.