How do parents afford private school

[Tonnnnnn]

Around here private school fees for secondary school are around £30k per year.

What sort of salary is required to fund two kids at private school? I am assuming both parents need to earn around £100k mark or one parent needs to earn £250k.

Even then, mortgage, holidays etc.

Aside from a few high paying industries ( banking, law) most places would t pay this much unless you were senior, and there are thousands of private school places around London.

Wonder if people are using their salaries or if it’s family
money paying for the fees

No, that's our gross salary

I only really know 3 people with kids in PS. One her husband works in the far east so pays no taxes on his salary, he rarely comes home though.
Another his wife inherited a lot of houses and that’s what they’ve spent it all on, they could have moved nearer to better schools, they don’t live in a particularly great area and his wife gave up work to transport child to and from school as in another town.

we have a family member who is spending nearly £20k on fees and we have no clue how she’s doing it. She had DC on her own (donor) was previously widowed so maybe from that. She also could have moved to be near the best school in their city but thought only PS would do. She struggles financially, only worked minimally for years, again to transport DC to school. She was an older parent and is now married to someone even older who is still working because they need the money. She rings to complain about the costs of trips and things and seemed unprepared at the rising cost from primary to secondary.

We only have one DC and I have a non teaching role at the school so get a discount.l- this is the only way we can afford it, especially with the VAT now…

Interesting @90swithcigarettesandalcohol I think you are right, parents' experience has a huge part to play.

I went to a high rated state grammar in the 80s, rather than a private school. Facilities were good, music, art, Latin, choirs, a debating society, a choice of four mfl. Sports for girls were tennis, dance, athletics, hockey, swimming, gymnastics. Libraries and science labs. 98% went to university.

When ds' turn came, our allocated state school couldn't even provide a French teacher. Results were dire. Bullying was rife. Ofsted said it was dangerous.

Faced with that, I've scraped together the fees from a pretty average income. I couldn't face feeling like I'd failed him for the next 40 years if I couldn't offer an education at least equivalent to mine.

People earn a lot? My husband and I earn over £200k each(lawyer and banker respectively), with bonuses consistently over £600-500k annually for the house hold.

My husband comes from quite a privileged background but I went to the local comp in a small Scottish central belt town. Having a kid later to establish (lucrative) careers and only having one also helped.

2 k a year for private? how?!

i plan to send mine private for secondary school only. fantastic primary/good results but I pay for lots of extra circ activities and tutoring to help (cheaper than private school for now)!

We paid from income. However it is the sort of income that if I disclosed it on MN then half the posters would accuse me of lying about our income so I won't. But yes at the risk of being accused a liar some people earn enough to send 3 kids to private school but still pay their mortgages, pay into pensions, have savings, run their cars and have holidays and not have to make sacrifices to do so.

We remortgaged the house, took in foreign students and I took on a weekend job alongside my full time job, blocked off rooms we didn’t use in the winter so we didn’t heat them, no holidays, old cars. It was worth every penny.

3 kids. 2 salaries. It’s not easy.

Lots of people i know work in private schools as teachers/ nurses etc so they get heavily reduced fees. Lots of grandparents help out too. Unfortunately staff discounts are on the way out and it's these less wealthy families who are unable to keep up with the increased fees and vat rises who are leaving now. Just makes the divide even bigger.

Do these threads just depress anyone else and make them feel like a total loser?

For us - banking and PR.

Lots of people i know work in private schools as teachers/ nurses etc so they get heavily reduced fees

I have friends & family in education & when they have costed up the salary, pension & discount they aren't actually better off vs paying out of salary with discount. Obviously some places must be more generous with discounts.

My DS is super bright and I am super skint, so he went private on a bursary. DH and I paid about £3K per year total. Best money ever spent, such a wonderful education and experience. What a shame the private schools are no longer charities as it will make it impossible for kids from poorer homes to get access.

Varies, I was able to fund a year for DS when we moved and there were no local spaces.it was foundation these and he is autistic so they didn’t really want him. I was working as a midwife at the time and could just do it.

He then got a space at a local state school who were amazing with him.

I could t have funded private long term

We sent one child, household income of £200k x

I don’t have a high income but manage DD’s fees of £18k a year by downsizing to be mortgage free - this is the main one. What I would have spent on a mortgage each month covers fees for 1 child.
I am also always trying to make additional income - taking in a lodger etc. My DD has autism and ADHD and most of the he children at her prep have moved from state to private because their needs weren’t being met. There are many children at the school with siblings in state schools, it’s not flash and most parents are paying from their salaries rather than savings/ grandparents - I know this because it was discussed amongst parents in relation to the VAT added to the fees.
I don’t earn a lot but my earnings are very stable and I have always been a saver and frugal. The school has been a lifeline in keeping DD in education - friends with similar needs in state schools aren’t able to stay in school (emotionally based school avoidance)

How will you explain to her that her brother got to go but not her?

When my DH was alive he earned enough for two kids in private. When he passed I downsized and moved in order to afford it, then my parents died and that helped.
I know a couple people whose parents paid, but most paid from their salary. And yes you need to earn a fair amount to afford it. I think many of those my children went to school with would not be able to finance it now with the added VAT. My DD left school two years ago and fees were £27k then. They are £35k now. Also now I think if it more than half of the parents only had one child in private school (only children, large gap between children etc).

Lots of grandparents pay/contribute to fees as part of inheritance to reduce estate that attracts inheritance tax. Some children we know have fees paid from generational education trust funds. Quite a lot of the friends of our children (who attend private school) just have parent/parents who both earn very high salaries. My husband’s salary has always paid the school fees as I’m a stay at home mum.

No. I know my work is valuable but underpaid, and I have great work life balance. I could earn much more with my skills in the private sector but choose not to.
I'm ok with my choices🤷‍♀️

So in short, some people make big sacrifices and others are very rich.

Independent school teacher here - many, many only children in our school. So many afford it probably by having one child only.

We don’t but seriously considered it.
we could afford but only because my dh has 100k ish salary. Mine is only 40k

We are very fortunate and the mortgage is paid off. Live in the north. Even then it would have meant significant sacrifices eg much less money to spend on holidays and home improvement.

important point. I think we would have done it for an only child. Two made it too difficult.