Barclays education costs calculator: FAQs

Content supplied by Barclays

 

Pencil case and booksQ: I don't yet know what my child's school fees will be. Can I still use the calculator?
Q: On the "What are your education plans" area, why are some of the boxes greyed out?
Q: I'm currently pregnant. What age should I enter for my child? Does it matter when my baby is due?
Q: How are the average costs calculated?
Q: What if costs change as my child grows up? Does the calculator allow for inflation?
Q: If I make a mistake, or want to go back and change information that I've previously entered, what do I do?
Q: I have selected the number of children, and selected Next, but I can't get any further. What do I do?
Q: Why does the calculator ask me to enter an age for my child as of next September 1st?
Q: Are the calculator's University calculations are based on a three-year degree course?
Q: Why can't I see the calculator on my PC or Mac?
Q: Why can't I see the calculator on my iPad?
Q: The size of the calculator keeps changing, and the calculator scrolls up and down my screen. Is that a problem?
Q: I've calculated the monthly cost myself, and I'm getting different numbers. Is there a problem with the calculator, or with my maths?
Q: Can I save my results for future reference?
Q: Can I print off my results?


Q: I don't yet know what my child's school fees will be. Can I still use the calculator?

A: Yes. The tool contains figures for average fees and average expenses, so you can simply click the "Use average costs" boxes. For example, for Secondary school, if you click "Use average costs" under State (non-fee paying) the average yearly cost of your child's extras (uniforms, school trips, etc.) will be shown. If you click "Use average costs" for Private fee-paying (day) then the total of average Private Secondary school fees and the average cost of extras will be will shown in that box.

Q: On the "What are your education plans?" area, why are some of the boxes greyed out?

A: If your child has already completed a stage of education, then the boxes will be greyed out. If your child is 12, for example, then there are no future costs for Early years and Primary education costs will not be relevant, as he or she will have already completed these stages.

Q: I'm currently pregnant. What age should I enter for my child? Does it matter when my baby is due?

A: You can certainly use the calculator to work out education costs if you are pregnant. The calculator asks you how old your child will be at the start of next September. So if you are pregnant now, choose 0-1 as your child's age.

Q: How are the average costs calculated?

A: Average costs are taken from a range of sources, including Which?, grantsexpert.co.uk , and the Independent Schools Council. All sources are listed below, if you would like further information.

Q: What if costs change as my child grows up? Does the calculator allow for inflation?

A: The calculator uses current costings. You should treat the education budget that the calculator provides in the same way that you would any other part of your family budget and increase contributions in line with the rate of inflation. Future inflation rates may vary, so there is no predicted rate incorporated into the calculator.

Q: If I make a mistake, or want to go back and change information that I've previously entered, what do I do?

A: It's easy to enter updated information. You can go back to the "What are your education plans?" section for each child, either by clicking on the blue bar for that child, or by clicking on one of the Edit buttons. Once you have opened up the child's "What are your education plans?" area, then you can click on any individual box to type in new numbers.

Q: I have selected the number of children, and selected Next, but I can't get any further. What do I do?

A: When you have selected the number of children that you want to include and clicked Next, a new box will open, listing Child 1, Child 2, etc. Click on the box next to each child, and a drop-down list of ages will appear. Select the age that each child will be at the start of the forthcoming school year (by clicking on the relevant number). Once you have selected an age for each child, a Next button will appear. Until you have selected ages for each child, you will not be able to proceed.

Q: Why does the calculator ask me to enter an age for my child as of next September 1st?

A: The calculator uses your child's age at the start of the next school year to work out what academic year they are in. If you enter your child's age as it is now, then the calculations will be incorrect.

Q: Are the calculator's university calculations based on a three-year degree course?

A: Yes. The calculator is based on a standard three-year degree course. If you think your child will follow a different further education course,
such as medicine, a four-year course or postgraduate studies, you should allow for the extra expense in your budgeting.

Q: Why can't I see the calculator on my PC or Mac?

A: The calculator should work on any modern PC or Mac browser with Flash installed. Please make sure that you have upgraded to the latest version of your browser, ensure that Javascript is enabled, and that the latest version of Flash is installed.

Q: Why can't I see the calculator on my iPad?

A: The calculator uses a technology called Flash, which is not supported by iPads. We apologise for any inconvenience. Try using the calculator on a laptop or PC to find out how much your children's education could cost.

Q: The size of the calculator keeps changing, and the calculator scrolls up and down my screen. Is that a problem?

A: There are certain points where the calculator will automatically resize and scroll, to keep relevant information centred on your screen. This should make the calculator easier to use. It does not indicate a problem with the calculator.

Q: I've calculated the monthly cost myself, and I'm getting different numbers. Is there a problem with the calculator, or with my maths?

A: The calculator makes certain assumptions, which may differ from assumptions that you are making. For example, the calculator is designed to run on 12-month academic years, in order to generate a regular monthly budget to cover your child's education; by contrast, you may have made your calculations on an 8 month or 10 month academic year to cover only months when your child actually attends school.

Q: Can I save my results for future reference?

A: When results are generated by the calculator, you will see the option to print each set of results, including your family's education total. However, you cannot save the data to your hard drive.

Q: Can I print off my results?

A: If your computer is attached to a printer, then you can print off either your family's results or each child's results by clicking on the relevant Print button. You will see Print buttons at the foot of each results area. If your printer has been correctly configured it will either print immediately, or will ask you to confirm the print job.

 

Source information:

Average school fees information:
© Statistics Department, Department for Education. Sourced August 2011
www.education.gov.uk
© ISC Census 2010. Sourced May 2011
www.isc.co.uk/publication_8_0_0_11_781.htm

Average school costs information:
© Which? Sourced May 2011
www.which.co.uk/news/2010/08/back-to-school-equipment-costs-revealed-226141
www.which.co.uk/news/2010/09/after-school-activities-for-kids-are-too-costly-226666
© Grants Expert. Sourced May 2011
www.grantsexpert.co.uk/funding-for-school-trips.html

Average university costs (fees and extra costs) information:
© Daily Mail. Sourced May 2011
www.dailymail.co.uk/news/article-1379364/University-tuition-fees-Degree-cost-52k.html
 


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Barclays Bank plc takes no responsibility for the content of third party websites or the views and recommendations expressed by named third parties in this webpage. The material on this webpage is for information only. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England. Registered No. 1026167. Registered office: 1 Churchill Place, London E14 5HP. Barclays Insurance Services Company Limited is authorised and regulated by the FSA. Registered No 973765. Registered Office for both: 1 Churchill Place, London, E14 5HP. Barclays Business is a trading name of Barclays Bank PLC. Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board and is licensed and regulated by the Office of Fair Trading for the provision of credit products to consumers and related services. Further details can be found at www.lendingstandardsboard.org.uk

Last updated: 27-Jan-2014 at 3:44 PM