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Original poster

Advice on Paying Independent / Private School Fees

68 replies

Gemma1216 · 28/08/2018 21:02

Hi All,
Wonder if someone can please help me please?
Our DS has been accepted into a brilliant independent school starting in 10 days' time! However, we've just come to realise that the entire year's school fees need to be paid upfront for the year.
Anyone know of any companies that provide loans for school fees? looking for something that we can pay off over 12 months, and then probably re-use on a yearly basis.
Any help would be greatly appreciated!

OP posts:
Easypeasy5 · 28/08/2018 21:05

Have you asked the school if you can pay termly? It would be worth contacting them directly as that can often offer alternative arrangements

Original poster
Gemma1216 · 28/08/2018 21:08

It's our first year and we really want to show that we can pay

OP posts:
JuliaRobbers · 28/08/2018 21:10

The school would normally have a tie up with financial providers who accept monthly payments from you with a small interest while they pay the school the required amount. This will normally be listed on the school website or the office can advise you.

notangelinajolie · 28/08/2018 21:10

Speak to the Bursar. My DD's school fees were paid over 10 months by Standing Order from September to June. Other options were a payment at the beginning of each term or pay everything all at once.

premiertav · 28/08/2018 21:14

It's our first year and we really want to show that we can pay

But you can't.

Speak to the school about payment plan.

Guiloak · 28/08/2018 21:15

I'm so surprised as lots of people pay fees from monthly income usually you either pay termly, extra cost to pay monthly and if you pay in advance you get s discount due to interest the school earns. I would wonder if the school is in financial difficulties. Staff which will br the main cost is paid out monthly.

LIZS · 28/08/2018 21:18

It is very unusual to have to pay a full year upfront, termly in advance is more the norm. Often this can be spread by monthly installments. Are you at Reception or Secondary stage as there may be significant increases to come and annual income rarely keeps pace.

KingIshe · 28/08/2018 21:19

we are currently looking as well, just so much easier to pay monthly if the interest makes sense!

laptopdisaster · 28/08/2018 21:23

that's unusual. are you sure the school is financially solvent? I don't know of a single private school in the UK that asks for a year's fees up front.

Squamish · 28/08/2018 21:26

Very unusual situation- more usual to pay term by term

RandomUsernameHere · 28/08/2018 21:28

Agree with others that it's not normal to ask for a year's fees upfront, I've never heard of this before. It's usually termly upfront or monthly direct debit over 10 months.

Londonmum1982 · 28/08/2018 22:11

Would be interested to hear if you find any good recommendations for a finance company that can help, as the school we are looking at doesn’t offer a monthly payment plan.

Srsly · 28/08/2018 22:13

I would steer well clear of a school asking for fees upfront with no other options. How big is this school?

Xenia · 28/08/2018 23:07

I have never heard for a normal school with fees all paid up front. Most of them have 3 payments, sometimes term 1 is a bit more as it can be longer, otherwise for 30 years all the schools ours have been at have been a payment per term. Are you sure it's not termly? I would ask.

user1483972886 · 29/08/2018 07:43

Tbh before you get started and commit yourselves I would have a hard think about whether you can afford it in the long term.
'We really want to show we can pay it' suggests to me you cant... what if one of you loses your job?

emoji · 29/08/2018 07:46

Very odd the school are asking for a years fees upfront?! I think not many families could do that.
We get invoiced before the start of each term but there are options to pay monthly if we wish to too.

BigGreenOlives · 29/08/2018 07:49

Are you based overseas & it’s a boarding school? Have never heard of paying upfront.

chemenger · 29/08/2018 07:52

Both schools my dcs attended had monthly payments as an option, one gave a discount if you paid the whole year upfront.

Yogagirl123 · 29/08/2018 07:54

A large private school in my town went bust very suddenly, a few years back, was rescued and then closed a few years later. Based on that I wouldn’t pay a years fees in advance.

Loopytiles · 29/08/2018 07:55

Yes, check the school’s financial position, a whole year’s fees is not usual practice.

cloudtree · 29/08/2018 07:57

It's our first year and we really want to show that we can pay

That would suggest that you can't. Our school charges termly. You can use the schools fee plan for no charge to pay monthly instead. We've just switched to this (even though we could actually pay the lot up front) simply because Ive only just realised that its interest free so we might as well. Ours is SFP school fee plan (premium credit) but I suspect they have to have a link up with your school?

As others have said though I would be concerned about a school asking for a whole year up front and would want some assurances that they are not in financial difficulty.

AnotherNewt · 29/08/2018 08:01

Echo others, schools normally bill termky in advance (and hold up to one term" fees as deposit, so in effect you are paying two terms in the months before the start)

It would be en normal for you to state you had not anticipated being billed in for the year, and ask for it to be replaced by the (typical/normal) termky billing. Avoid monthly if you can - it typically carries a surcharge.

JillCrewesmum · 29/08/2018 08:04

Never heard of a year's fees in advance. If this is in the UK I'd be looking very hard at the finances.

Dd2 goes to a well known independent and we pay termly.

laptopdisaster · 29/08/2018 08:05

There are loads of school fee plan companies around but they'll all cost you more over the year. Example from Google www.premiumcredit.com/products/school-fee-plan-1-parent

EmeraldVillage · 29/08/2018 08:05

I would think quite hard if you can actually afford this school if you expect to need financing every year.

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