Private school fees

[Muso124]

I don't suppose anyone would be able to help me navigate the world of private school fees...?

We are looking at a private school, Casterton Sedbergh, but are unsure whether it is a real option.

I am self employed and on maternity leave at the moment and so we are living on my husband's salary in London (£45,000).

We are planning on moving North to Lancaster and hope he will get a similar salary but are unsure whether this would generally qualify for a bursary or whether anyone is able to pay fees with this kind of household income?

If anyone doesn't mind sharing on this, I'd be very grateful!

Thank you

All the schools you are looking at will have the current fees listed; bearing in mind there will inevitably be extras every term. They will also have the contact details for admissions/bursar; it's worth giving them a call. Also worth finding out what scholarships they offer, if your child/children are very bright, they may get one of those.

Surely you just need to look at how much the fees are and see if you can afford on your outgoings? We don’t know your financial situation with regards to mortgage etc.

Where I am fees range from about £4K - £10k a term per child so a big range.

We also don’t know how many children you have!

It all depends on what you are prepared to sacrifice!

I can't see it being an affordable option for you without a scholarship. Also, often scholarships are not a full scholarship but only part fees

So you are looking at 9k minimum per year ( plus uniform , extras etc) which is around 12k gross salary. Can you afford to live on 33k gross ? Could you work too? Annual rises are likely to outstrip pay rises plus incremental fee increases as child goes up the school so that 33k diminishes pretty fast. It seems tight but depends on how frugal a lifestyle you are willing to live and whether promotion is likely.

Their fees are on their website. Over £5k/term by Y7. And will be more by the time your child is that age. So, assuming you are back working by then, can you afford at least £18k/year out of your net income? Will there be any more children?

Unless your child is exceptional in some way, £45k would be a high salary in that region, and your income also comes into play, plus any property, holidays, other lifestyle choices. Applying for bursaries is a rigorous and intrusive process (as it should be).

You don’t mention your typical annual income through self employment, but if it is anywhere close to your DH’s, I reckon you can forget the idea of bursary, as you are both high earners.

Interested to hear why you are so interested in private schools at rhis stage. What advantages do you see?
Why not move somewhere with good state schools and supplement as needed with private sport/ music lessons. Your DC is likely to do just as well as a child in a private school. If they turn out to be particularly talented in a particular area you could look at bursaries/scholarships to a private school at a later stage.
With a gross income of 45k private school is going to be a real struggle.

Thanks all - a lot to think through. We only have one child at the moment (4 months) and are looking to have more which is why I'm asking based on my husband's salary alone.

We're just getting ideas at the moment and weighing up everything...

Having learned through experience, its not only the fees but how much they go up as the DC get older! Annual spend for 3 DC when all 3 were in school together was £9000/annum (nursery, Year 1, Year 3). Now average is £125,000/annum (year 10, Year 13, Uni)

No sorry it's probably not. Specially for more than one child.

You may get a bursary but they are rarely for prep schools.

£125,000 a year?? Are the younger ones boarding as that is astronomical!

Difficult to judge whether your income is enough without knowing your circumstances, particularly whether you plan to have more children and how much your housing will cost.

I guess on that salary it would be manageable if you have no/very small mortgage and just the one child but otherwise it seems very tight. Lancaster is a nice area and I'd be surprised if there weren't decent state schools.

On that salary you might get a small bursary at secondary level (bursaries not generally available at Prep level) but it would only be a small bursary....and with fees being lower in the north, the cut offs for income might also be lower,excluding you from any bursary help.

And when schools assess income for bursaries, there need to be good reasons why the 2nd parent doesn't work - they aren't there to find lifestyle choices to be a stay at home mum.

Thanks all!

Sorry to be negative but I can't see how you can afford it for one child let alone two on one salary of £45k.

I have never known a primary give out bursaries at 4. I do know people who had bursaries to keep the DC at prep school after a change in their circumstances but this was the last 2 years of primary after having been at the school since nursery.

Bursaries and scholarships much more likely at secondary although most scholarships these days are more prestige than prize. DD was offered a music one which amounted to 5% off fees and free music lessons. Very nice to have but wouldn't make the fees any more affordable for most families.

If you did what I did and work full time you can afford it. Then you and your husband will need to organise full time childcare for the baby (I was back at work before the baby was 4 months) and that was the key to all that went well - the two full time salaries. (Paid 5 sets of school fees actually)

What basis are you hoping to get a bursary on? Low income?!

Realistically I’d have thought primary would be out on that level of income unless you’re extremely frugal and only have one child. With careful savings and planning secondary could be possible but that would mean saving from now and you earning well. Our household income is a lot higher than yours (but have v high mortgage so you should have far lower living costs in Lancaster). I’m hoping to be in a position to have enough savings so we’d only ever be paying for one child’s fees out of salary. I wouldn’t want the stress of having to find £40k a year for 2 kids plus a large mortgage.

Is this for primary? The fees should be listed. I think it would be impossible for afford two private school fees on a salary of £45k. Most private schools will be at least £800 a month (when averaged over the year) and very few will give out bursaries at 4.

If you plan to be working once the kids are in school then yes you could do it if you choose to. It would probably be the case that one your salary's goes to school fees and you live off the other.

Obviously in secondary the school fees increase so it will be more difficult but at this point bursaries or scholarships are more likely depending on how academic/sporty/musical your child turns out to be.

I earn without bonuses £45k a year. If we were to send our kids to private school (which we probably won’t - but that’s another thread) my husband and I have said that’s my entire salary gone. So we are factoring conservatively that my entire income would go on 2 sets of school fees and then my husband’s salary would have to pay for everything else.

The key with private schools is getting your foot in the door. Start saving now and send them for as long as possible. When the money runs it ask for a bursary. They are far more likely to give it to you scone you are already at the school. Fees will vary so have a look at the fees lists for the schools you are considering. If you limit your family to one child I don't see why you wouldn't be able to afford it at least for prep. Especially if you start working again.

Our DC fees range from 15k a year to 20k. Bursaries are usuallly for people who are very bright but from very poor backgrounds. Very competitive process and brilliant opportunity for those DC. Scholarships vary also with some having no real impact on fees where others can be around 25% off. These are reviewed every year too. The private schools tend to be a lot cheaper outside London and therefore could be more doable on your DH salary. Although if it’s what your looking at for your DC perhaps start saving. Be careful however if you are thinking of bursary or scholarship routes. It’s a lot of pressure on your DC and they would have to be very bright to be considered. Although there are the options for music and sports scholarships too so lol at all the options

Racecardriver sorry but that isn’t true. If you can’t afford to pay fees due to circumstances changing you won’t just get a bursary just because your already at the school. They have a set amount for bursaries for each year group. So they won’t be able to magic one up. What they are more likely to do is offer a slightly different payment option but ultimately if you can’t pay you are asked to leave .

Thanks again - I have started budgeting considering the costs of the school we like... Thank you all for the help.

Pondhopper Thu 06-Sep-18 15:48:05
Having learned through experience, its not only the fees but how much they go up as the DC get older! Annual spend for 3 DC when all 3 were in school together was £9000/annum (nursery, Year 1, Year 3). Now average is £125,000/annum (year 10, Year 13, Uni) shock

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Totally agree with this. People don't appreciate how much fees rise from year 1 up to sixth form especially if start boarding. It kind of creeps up on you and all the extras for sport, music, trips etc. also increase in cost as well.