Private School or Reduce Down Mortgage?

[MamaOfWobbles]

If you could afford Private School for your young child but it would mean you couldn't reduce down a 35yr mortgage, what would you do (this is assuming little one is in private school from reception to year 13)? Would you send your child to private school or would you sort the financial security?

Would you always choose private over state if you could afford it? I'm wobbling because in state the reception is just like nursery whereas in private it suddenly seemed so formal.

Private school without a doubt.

You’ve got a 35 year mortgage, so you can’t afford it.

Consider what other sacrifices you’d make to ensure the private school fees are paid too.

I’d thought about private rather than state, but it would have meant no holidays, no out of school activities, all the things that in normal times are enjoyable and enriching. I’d have been constantly worried about jobs too, especially as DH is self employed.

I’d go with the mortgage now and reassess in a while.

Depends on the State provision. Our State Primary was good but Secondary awful

What are the secondary schools like? Most people chose prep to prep for 11+ or as a feeder.

@Sara2000, very common in rural areas. One of our local schools has less than 40 children in the whole school. This, of course, brings problems of sustainability.

Difficult to say as it depends a lot on the child. Some don't take to private school, others may languish in state schools and not reach their full potential, others may succeed in either regardless.

We went private as a) there is less tinkering/budget slashing by the state and smaller classes and b) when you pay, you generally get a better service e.g. in the earlier lockdown when education continued.

If you are prepared for the financial investment, I would say private from the start. Moving schools when your child has established friend groups is much more difficult.

Like others, I think it depends on the local options and how secure your job is.

Mine went to a state primary and private from 11.

You can't borrow for your retirement. So I would take care of your financial security first.

You’ve got a 35 year mortgage, so you can’t afford it.

Not necessarily - there are parts of London and the Cotswolds which have risen in price 3000% over the past 35 years. There was a giddy period a few years ago where my completely ordinary house in a completely ordinary SW London suburb was out-earning me annually.

In fact I know of a few families who remortgage their property gains to send their children to private schools. Eventually they’ll downsize and repay the debt that way. Mumsnet loves a bit of parsimony but it’s often indicative of financial naïveté.

I wouldn't bother for primary if there are good primary schools in your area, if the secondaries are poor switch then. There are generally not the behaviour issues etc in primary and in my opinion (ex teacher) learning through play is better. I went to a private secondary school.

Difficult to tell without knowing the ins and outs fully. You’ll also know what your future earning potential is or if you could keep up the fees if interest rates on mortgages go up.

We’re going private as I think it’ll be a nicer experience with small classes, extensive grounds and facilities and a far superior provision in terms of sports, music, languages etc.

Having said that, if money was tighter, I’d also lean towards going state at primary and then independent. Or maybe even staying in the state system all-through if schools are excellent but I’d definitely spend money on activities outside of school and travelling etc.

We paid off the mortgage. Private education is vastly overrated.

Private school. The problem with planning to do state for primary, followed by private for secondary, is that the competition for places from Y7 is huge. All of DC’s prep school got places in the Senior school, leaving very few for external candidates.

Your DC will need to be very bright and well tutored to get in. I know many parents locally who went with this strategy but failed to get a place in a private school for their DC so they are now at a state secondary that they are not happy with.

is that the competition for places from Y7 is huge

They're in a small rural place where most schools aren't full - I am sure that applies to the private school too. This is not a competitive London private school situation.

Pay off the mortgage quicker, small rural private primary schools do not add value, as you don't even get the "makes contacts" side of private school, it's just teaching...

@edwinbear

Private school. The problem with planning to do state for primary, followed by private for secondary, is that the competition for places from Y7 is huge. All of DC’s prep school got places in the Senior school, leaving very few for external candidates.

Your DC will need to be very bright and well tutored to get in. I know many parents locally who went with this strategy but failed to get a place in a private school for their DC so they are now at a state secondary that they are not happy with.

Depends very much where you live. The vast majority of private schools are not currently at capacity.

Even in competitive areas, such as London, it isn’t a problem to do state and then go independent later. It’s just a case of prepping for exams, which state schools don’t offer.

Depends very much where you live. The vast majority of private schools are not currently at capacity.

Yes, exactly. A number of dd's primary school friends got into the highly regarded selective private secondary in our town. I don't think any of those who did the exam failed to get in. The brighter ones were all offered scholarships.

Having said that, I don't actually know anyone who chooses to go private for primary in this area unless they fail to get admission to the far superior state primary. There is simply no point.

all of DC’s prep school got places in the Senior school, leaving very few for external candidates.
This with bells on. In non-grammar areas, very gifted, or very able and intensely tutored state school children will make it into private secondary. State schools don’t prepare for 11+, they won’t make a case at a secondary if a child had an off day (not applicable for super selective, but for the mid range), they won’t help you to find the best school, and depending on the schools around, kids might be miles behind learning wise (although well in range of national expectations). And most importantly, the difference state /private isn’t only on the antional curriculum, it can go so much further

I'd reduce my mortgage but it depends on the schools. There's no need for private schooling where I live as there's a good variety of high quality schools. If the state schools were bad or if my child had a need that could only be met in a particular fee paying school, I'd have a different opinion.

Depends what your local options are like. I've chosen private for secondary because the extra curricular is so much better. I don't think the teaching is better. A bright kid should do well in a state secondary but it's a no brainer that smaller class sizes make it easier for kids to learn.

Top set kids do as well as the selective private I have chosen in my local state comprehensive. In the main they are the children of professionals though.

I was sent to a private school. My parents had low paid jobs and would have sacrificed a lot to pay the fees. Changed my life. The house I grew up in is worth a quarter of the one I live in now. My eyes were well and truly opened to the opportunities the world offered when I was at school. I was also accepted more easily into the more wealthy sets when I went to university and I wanted a part of that privilege.

My kids are privileged and buy their clothes in jack wills, go skiing, can sail, holiday abroad, live in a big house etc etc. I'm not sure they will get the same benefit from a private environment that I did. They have educated me at home to help too.

There is a lot to be said for state education and topping up with tutors. You get around the contextual offers that way too. Many of my friends are doing exactly that. Every year the numbers accepted for oxbridge / med school goes down for the indis.

We went private from secondary..tried state but didn't work for dc ....so less holidays and no overpaying mortgage but happier dc..
Looking forward to not paying but wouldn't change decision and really glad had the choice

Private school if ever possible.

Although I don't see too much value in private for very little children, so I would say state until 8 then private in your situation. Save as aggressively / pay off mortgage until then.