How do you fund DC school fees?

[user8636283907]

Curious.

We pay through salary - although sometimes I think I'd just use my bonus to pay a year in advance for them, but I haven't done that yet (too scared to say goodbye to such a huge chunk of money upfront I suppose).

How do you pay? Salaries, bonuses, Bank of Mum and Dad or grandparents? Dividends? Ring-fenced trust?

A friend of mine, they had an agreement with her parents, the parents paid one term, and they paid the other two from their salaries, I thought that was cool. My parents would never offer that!

Saved up during primary years for independent secondary. Then rest comes out of salary. No inheritance/grandparents footing the bill here!
That's why VAT is so challenging for us, finding an extra 20% from salaries on top of all other CoL rises

Salary and bonus.

Salaries. But we have ISA savings if needed.

Crippling isn't it!

It really is! Got 3 years left to end of Yr 11 and already really worried about how we will afford it. 6th form out of the question which I'm furious about as its the only 6th form which does the subjects she loves!
Never forgive Labour for this.

Salary but when DD started I was a SAHP so I started Freelancing and I earn enough to pay fees on my own.
Also we did State Primary so had savings to cover fees if needed

This is similar for us.

My monthly salary goes nearly entirely on school fees for 3 DC.

My bonus is used for holidays.

Everything else is on DH.

I could be a SAHP but our lifestyle would suffer hugely, no holidays or private school, so that's what I work for!

I find it interesting reading these. Footing 3 children in private school can’t be cheap @user8636283907

Initially through my DH’s salary. Then he passed away so I downsized which helped for a few years then moved again to bigger house but much cheaper area. Parents passed away which covered a few more years then just as funds were running out my son went to vocational college so only had to pay for one child then. Couldn’t afford it now with VAT however (school fees at last school DD attended are now just over £30k/year)!!

Salary and it is becoming increasingly difficult

I think I'm classified as a high earner but it doesn't feel that way as literally all my money is earmarked for school fees. It's a lot!

I hear you.

Phew!

Salary. Youngest is in year 11 so not long to go.

DS finishes this Year but I have seen the fee schedule for next school year and we would be paying not much less than we used to pay for 2 DC when there was a 1 year overlap 4 years ago. DD did have a part scholarship and DS got a Sib discount but even so I am not sure we would make the same decision today.
I feel like people like us are being priced out of Private Schools

Ours go to state school, but Dh and I both went to independent schools (Dh just for secondary, but me all the way through). My mum worked 3 jobs. One as an accountant, one as a cleaner, another as sort of a PA for an eccentric old lady. For about 6 months, we lived in a campsite because she put school fees ahead of getting us somewhere to live.

Now I personally think that’s bonkers, though I’m grateful for the quality education, I maybe would have liked life to be less chaotic. But when people say 20% VAT is killing them, I think of my mum cleaning people’s toilets evenings and weekends. There are families who can afford it and families who can’t and I think sometimes it must be easy to think you are one when you are the other, maybe to the detriment of the children sometimes.

I get that @mindutopia . I was raised by a single mum who put me through private in secondary at great expense to her. She made real sacrifices.

I don't think there's any way she would have been able to do it these days.

Eldest DS went.

Now two youngest will certainly "state til 8" despite our incomes increasing because it's just too expensive for what we get up to that age.

Our hh income is in the top 5% or even 2%, I can't remember which. God knows how people afford it and a mortgage on a big house. Guess they bought their big house when rates and prices were lower.

Salaries and only having one DC.

Surprised not more people are saying Bank of Mum and Dad / Grandparents!

Why? Because that's the stereotype ie trust funds?

We both work. No help from family. We only have one child which is why we can afford to do it tbh!

My child doesn’t go to private school but I am paying for a maths, English and science tutor for him. Comes to £540 a month. I pay for it by renting out my spare room to a lodger who pays £650 per month.
Im a single parent like your mum OP so I can’t afford private. I am a higher earner though and have a house deposit saved for both my sons. I drive an old car, my friend cuts my hair for free and my mum buys me clothes for Christmas and birthdays. I go on nice trips though and have taken my children to lots of different countries. Private school wouldn’t have been affordable though.
One of my son’s friends goes to private school with a big scholarship (so that’s how his mum pays for it) but they still pay £400 a month. The school have been absolutely amazing though as the child’s dad died when he was in year 7 and they have supported him through it. Great pastoral care.

My Parents died a while ago and my Dad had literally nothing, we were out of pocket for his funeral.. My Mum (divorced from my Dad) didn't have a lot of money but when we sent DD Private she said that if we every struggled to let her know and she could probably manage a terms fees or so (we wouldn't have ever asked her)
DH's Dad died a long time ago in an institution for ex alcoholics and I imagine the best MIL could do would be a term or 2's fees at a push.
Of course they probably wouldn't announce it but of all of DS's friends I know of 1 set of GP's who pay.

DH’s life insurance/ death in service payment/ pension