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Scholarships amount?

(33 Posts)
LittleTurtle Fri 19-Apr-13 14:29:25

This is on a website of a private school about scholarships. May I ask what this line means :

"(name of school here) scholarships of £50 per annum are awarded by competitive examination to internal and external candidates at the age of (7+, 11+ etc).

What does this mean???

Do I pay £50 every year for the scholarship. Cause the school costs about £6000 per term. Just wanted to confirm my thoughts are right.

AuntieStella Fri 19-Apr-13 14:32:59

It means you get £50 off the fees if you win a scholarship.

Many scholarships are indeed now purely honorary or for token amounts.

LittleTurtle Fri 19-Apr-13 14:39:41

WTF????? £50 off from £6000, that is not a scholarship, why do they even tease us so much?

Piggychunk Fri 19-Apr-13 14:44:09

Auntie is right, maybe you could apply for a bursary as a top up?

AuntieStella Fri 19-Apr-13 14:49:16

Some scholarships have no cash value at all; it's primarily an academic honour.

If you require financial assistance, you need to secure a means-tested bursary.

RMSeries2 Fri 19-Apr-13 14:58:42

Most fee paying schools have bursaries for those in financial need. Many - but not all - of these are linked to those who receive scholarships which are generally entirely academic performance-based. So the things are different but linked. In this way, it allows the schools to recognise the academic achievements of all who are academically very able - including those who are from mega wealthy families - by giving a small 'prize'. Those who get this scholarship may then also qualify for a bursary if they meet financial criteria. If you need a bursary for your DC to attend the school you should speak to the school about how this process works at the specific school. This process makes sure that the school is only really providing financial support to those who really need it - otherwise they could be giving massive subsidies to the very wealthy. Having said that, I think some schools still offer more significant fee reductions based purely on academic achievements but I couldn't tell you which sorry.

LittleTurtle Fri 19-Apr-13 15:03:38

Unfortunately, we just would not qualify for financial assistance, even though we could not afford £6000 per term (especially if you multiply by 3 kids ( I work it out to be about £60 000 per annum for all including extras). I am a housewife (you could say multiple maternity leaves after the other), and DH'sjob, i just know we would never qualify. DH is a Mathematician by nature and and pushes DS, so he is quite good for his age. I was hoping DS could go to a really good school based on his academics. His teachers confirmed that he is rather advanced, also he gets chosen for speeches, class representation etc. good in Chess etc. We would love for him to go to a school that could nature that. Unfortunately there are no grammar schools in Central London either, so that there is hope for him for Senior school. Don't know how you all do it, sending your kids to independents when they cost so much.

Xenia Fri 19-Apr-13 15:14:19

We had 3 really close together but I worked full time. Could you not go to full time work and then I was able to pay 5 sets of school fees alone.

WishIdbeenatigermum Fri 19-Apr-13 15:17:01

Scholarships are not the same as bursaries- bursaries are needs based and you could still get one even if you have a decent household income. Confusingly some schools do award a decent wodge off as scholarships confused i have 2 dcs each getting 20% off without a whiff of interest in our earnings. PM if you would like more info.

WishIdbeenatigermum Fri 19-Apr-13 15:19:21

Hello Xenia grin. You are inspirational, but your earnings render your situation irrelevant to 99% of families. Regardless of whether the man woman or both work.

LittleTurtle Fri 19-Apr-13 15:23:35

Xenia, Based on my calculations I would have to earn quite a lot of money even if I said all my salary goes to the schools - not less than £120 000 per annum for all three, or no less than £30 000 for one, all before tax. Considering I have not worked for the last 6yrs or so, this seems quite hefty...................................

OldBeanbagz Fri 19-Apr-13 15:25:38

£50 is not a scholarship, it's a discount and a small one at that!

My DD has just been awarded a Maths Scholarship and the figure is just into 4 figures (we were asked to keep the details confidential).

Xenia Fri 19-Apr-13 15:28:35

Good point although women set up businesses - the White Company, mumsnet and often do pretty well. Female entrepreneurs earn more than male ones in the UK apparently at under 40 years of age. 3 of my children had music scholarships but it is/ was more the honour than much of a fee discount although more than £50 and certainly nice to have.

Day school fees are about £10k to £15k so lots of women go back to work full time on say £40k and cover most of the fees. It works well for families and gives them two incomes and ensures children see that mothers work just as well as and sometimes out earn fathers.

If you cannot found a business or go back to work then what about jobs in schools? We knew a teacher couple - the 3 children had a virtually free education 3 - 13 at the prep school where one of the couple taught and then free fees and a free house from age 13 - 18 at a leading boarding school.
Is your husband self employed? His income may be low enough for a bursary if the school really wants the children.

AuntieStella Fri 19-Apr-13 15:29:12

A lot of people in the middle have been squeezed out of private education! Especially those with larger families.

You could: retrain as a teacher and go for a school which offers a staff discount; look for schools with sibling discount; look for schools where the scholarship amount is much higher (over 30% is rare, but 10-20% isn't uncommon but awards are hotly fought over); and maximise family income to cover as much of it as possible. Or go for one of the super selective grammars on the edge of London.

hardboiled Fri 19-Apr-13 16:38:08

Little, I have pm you.

MTSgroupie Fri 19-Apr-13 21:21:30

confused at all the posters who think that the scholarship is £50 off the fees.

If something sounds too stupid to be true then it probably isn't true. Any school who invite prospective pupils to compete for a paltry £50 per term would open itself to widespread ridicule. The scholarship is clearly for a nominal fee of £50 per term.

Typically scholarships range from 5% reduction in fees to 10%. Some more cash rich schools (like ours) offer 10-30%. I've heard of 50% to 100% but these were 'posh' schools with generous alumni.

Xenia Fri 19-Apr-13 21:25:44

The reason it has changed is because of the changes in charity law. Now if someone is really really bright but rich thye may well win a scholarship but it may carry no money award with it at all as they need to save all the money to pay to very very poor children on bursaries. That is the scholarship/bursary distinction nowadays at most places. Charitable purposes for about 400 years meant education - education of anyone, the rich, the poor, nuns, the elderly, those with rolls royces anyone because education was charitable . That was all changed wrongly in my view as something can be very charitable indeed and not benefit the poor one iota. The state tried to change the meaning of the word and they achieved that to an extent legally although the Charity Commission has been doing particularly badly thankfully at their work around the issue.

AuntieStella Fri 19-Apr-13 21:33:53

I'd love to know which schools give scholarships of over 30% (I note pp has only "heard of" bigger awards).

i repeat: some scholarships have no cash value, and carry academic worth only. I can't think of one at £50 pa, but St Paul's Girls in London is £100 pa, and the honour (not the tiny amount of cash) is certainly prized.

AuntieStella Fri 19-Apr-13 21:36:09

Sorry, that should be £250 pa, for an academic award. £100 (plus some tuition) is the value of a music scholarship.

AuntieStella Fri 19-Apr-13 21:37:31

St Paul's (boys) is £60pa for an academic scholarship.

Xenia Fri 19-Apr-13 22:34:16

For me the honour and possible helpful addition to a CV is worth more than the cash value as I can afford the school fees anyway. I certainly don't mind any spare funds going to children who need it not to mine with scholarships.

motherstongue Fri 19-Apr-13 23:20:37

MTSgroupie - posh schools with generous alumni offer more generous awards of 50% -100%.

Which "posh" schools offer these amounts? On checking Eton, Harrow and Win College they offer 10%, 5% and 0% respectively. Is there another level of 'posh' I'm not aware of?

MTSgroupie Sat 20-Apr-13 00:58:59

My friend's DC was offered a bog standard 10% music scholarship at her 'posh' school. Towards the end of year 8 they told the school that they were going to transfer their DC to a renowned music school. In order to persuade the DC to stay the school offered them an 'augmented' scholarship of 50%. However, it took an offer of 100% in order to close the deal. Some might call it a bursary but it wasn't income dependant.

Ok, it was a music scholarship which isn't what the OP was talking about but for all I know the school would have probably done the same if the DC was an outstanding academic student.

Not quite on the same 'posh' level as Eton and Co but our modest school offers a 50% scholarship which is usually split 3 ways. In DC1's year the split was 20%, 20%, 10%. In DC2's year the split was 30%, 10%, 10%.

I am not in a position to say how common the above is but at the same time its not as rare as some people think.

plainbellysneetch Sat 20-Apr-13 01:10:32

DS who is pretty able was just offered 50% scholarships at 2 local schools in E London, one of which is in the top 50-odd nationally.

BooksandaCuppa Sat 20-Apr-13 01:30:04

At ds's school the scholarships are worth 25% remission of fees - they have them for music, art, sport and academic. Choristers get 50% remission of fees.

They are not income dependent/anything to do with bursaries which are, quite rightly, much more discreetly awarded so I have no idea about them.

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