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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

to wonder how much income a couple realistically must have to be able to afford private education?

82 replies

stoppingat2 · 17/02/2011 22:30

Maybe I'm just being nosey, but when I see other peoples DC being driven to sch in big Land Rovers by very yummy mummies, clearly not on their way to work themselves..I do often wonder, just how flipping rich are you? We have a joint income of 84K and couldn't contimplate it. Just how much do you have to earn to afford private school (for 2 kids)..wishful thinking!!

OP posts:
TheSydenhamSet · 17/02/2011 22:34

I wonder this too. I know a family who have FIVE kids in private school education, live in a lovely house in a nice area, good car, mum at home. The husband must earn a fortune!

FudgeGirl · 17/02/2011 22:34

Well, my Dad and DSM earn £130k+ (her £100kish but self employed and huge tax bill) and my DS goes to private school, she's starting college and she's got a bursary and from what I gather it'll still be a struggle Confused

Northernlurker · 17/02/2011 22:36

I want to know this too. We have a good income, not a huge mortgage and there is no, no way we can afford it.

SugarSkyHigh · 17/02/2011 22:37

half the ones I know have remortgaged their house several times and/or have help from grand parents! IMO private school is probably better than state, but seriously, NOT VALUE FOR MONEY

tattycoram · 17/02/2011 22:40

Grandparents quite often I think. Unless the parents obviously work in the city etc

merryberry · 17/02/2011 22:41

secret's in the question really, you don't
often see it easily managed on salaried income. i wou;dn't be tempted til we went sailing past 150k for sure. though wouldn't be tempted fullstop all else being equal.

those i know in, or alumni of, public and pricey schools have done it by:

  1. baby boomers saving up for grandkids
  2. older money have large income from holdings
  3. plus i work for you with my insanely good degree and compliant attitude if you ed my kids
  4. great great granddad built the library just before the Great war
  5. none-of-the-above folk who have made very lucky with property during the boom years and are using rental property income
  6. super bright kid on very excellent award

most of the ones i know are 1,2,5.

munstersmum · 17/02/2011 22:42

Round here it seems to cost £13000pa per child so to pay for 2 kids you'd have to have a 'spare' £50000pa before tax.

Foreverondiet · 17/02/2011 22:42

Depends on how big your mortgage is! Also prices of private schools vary.

iwastooearlytobeayummymummy · 17/02/2011 22:42

It's costing us £25000 a year, both of us working, with nothing left over after paying mortgage, insurances and utility and food bills.

House in desperate need of decoration with aged, clapped out furniture, and Primark wardrobe
One modest self catering holiday a year and a 10 year old car.

Self inflicted wounds so not asking for any sympathy, but would be living it large if not paying school fees.

our money, our choices!

dizzyblonde · 17/02/2011 22:43

We earn 50k between us and have had three children in private school, perfectly possible on that income so long as you have a small house, camping holidays and an N reg car.

Hulababy · 17/02/2011 22:46

Think the key thing for us is that we only have the one child. Makes the whole thing much more manageable and no different to nursery costs, which we thought nothing of paying out anyway in order for me to work. Infact school fees worked out at a little less than the nursery fees were.

We are also not "down south" so fees are not as expensive.

We do now have a very healthy household income, largely down to DH's job, not mine. But it wasn't this hig when DD started.

We pay all our own fees. We don't have "old money." We don't have remortgages or borrowed money for school fees. And we don't go without either.

If we had a second child things would be a little more challenging though.

meditrina · 17/02/2011 22:47

If it's a school with a boarding option, it can be done on a much lower salary, provided your employer is HM Armed Forces and you are in a fully mobile role. But the car is much more likely to be a banger if that's the case.

iwastooearlytobeayummymummy · 17/02/2011 22:47

meant to add,did not 'go private' until secondary school, and hoping to re-enter state for 6th form

Blu · 17/02/2011 22:48

The answer is fees plus your other living expenses, isn't it?

bibbitybobbityhat · 17/02/2011 22:48

Not possible (or even desirable actually) to pay school fees for one let alone two on a family income of £90,000 ish with a £180,000 mortgage.

Punkatheart · 17/02/2011 22:50

One of my daughter's friend's father is a banker - who travels a lot around the world. His company pay for his four children to attend private school - wherever they are relocated. So sometimes it is a perk of a job.

Iwastooearlytobeayummymummy - yes, that sounds like us too. I was just counting how many places the wallpaper is ripped this evening. Yes, not asking for sympathy but making it clear that we are not rich - not really comfortable. Just mad!

Also - some brighter or talented children get scholarships and those in need or who fall on harder times, can get bursaries.

Trust me though - appearances can be deceptive. A lot of people in the southeast are hocked up to the eyeballs and that wealth is really hollow. But of course, there are very rich ones too. It's life and I never lose any sleep over it....

Hulababy · 17/02/2011 22:50

Our school fees (at primary) are approx £8500 a year.

jonicomelately · 17/02/2011 22:50

It would depend on the level of fees. Up north the going rate seems to be about £8k pa for a very decent private school. In other parts of the UK I believe the fees are much higher.

jenandberry · 17/02/2011 22:52

8K is a bargain.

We earn around £100K I would not want to pay school fees.

Hulababy · 17/02/2011 22:54

jenandberry - the fees vary massively across the country. Up north the fees are often a lot lower, even for very good schools. Down south the competition is so much higher, so fees are so much higher too.

gettingtogrips · 17/02/2011 22:54

I agree with Hulababy, it's no more than nursery fees so if you can adjust to pay them when they're babies, why not just carry on? I see my entire income as childcare / school fees and my DH's as everything else.

Original poster
stoppingat2 · 17/02/2011 22:54

bibbity - ditto. Our mortg similar to yours, but that;s what we have to pay to be on catchment for good school and I don't want to live in a shit area thankyou when i work so hard!!

OP posts:
TattyDevine · 17/02/2011 22:55

My kids are not at school yet but we could do it.

  1. Only have 2 kids
  2. No mortgage or rent
  3. 1 good salary
  4. Rental incomes from pre-marriage investments of mine
  5. No debt

I don't think I'm going to do the private thing. I dont believe the private primarys around here are any better than the excellent state school I'm planning to send my children.

If they dont want to apply for the grammar and do the 11 plus, or dont get in but I feel the local comp can't meet their needs, I'll be happy to throw some money at the problem if that happens. But only if needs arise.

I could feel very different about things if we were somewhere else geographically of course. I'm neither pro or anti state or private, I'm completely open minded. Was privately educated myself if that's relevant. Husband was state but feels the same way.

Original poster
stoppingat2 · 17/02/2011 22:55

gettingtogrips - it so is more than nursey fees! Our nursey fees were 950/month tops for just 3 days a week for 2..what would that be for two in private educ?

OP posts:
jenandberry · 17/02/2011 22:55

Well in my case I didn't carry on because there were perfectly good free schools on my doorstep. The flaw in my master plan came about when we moved and the children ended up at a crap school.