Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Education

Join the discussion on our Education forum.

Flip

1 2

Original poster

Who in their right mind pays school fees on their overdraft?

26 replies

dilemma456 · 04/04/2009 15:37

Message withdrawn

OP posts:

kidcreoleandthehotcrossbuns · 04/04/2009 15:54

I think it's easy for you to judge as you're in the privileged position of not having to pay for your DD's private education.

Original poster

dilemma456 · 04/04/2009 15:57

Message withdrawn

OP posts:

piscesmoon · 04/04/2009 16:01

Perhaps they are expecting finances to get better soon.

conniedescending · 04/04/2009 16:02

maybe she was trying to make you feel more at ease about the whole thing?

DSMaryMagdalene · 04/04/2009 16:02

Oh well lucky you.

wannaBe · 04/04/2009 16:04

well, presumably you have chosen to send your dd to private school, a choice which has been aided by funding received from elsewhere? You were after all not forced to send her - you could have sent her to state school if you had wished. It just happens that you are able to send your dd to private school through funding from others, so yes, you are privilaged to be able to do so.

As for parents paying on the overdraft, I personally wouldn't, but if the state schools nearby are failing parents may choose to do this to give their children the best education possible, or if they were previously able to afford it and then fell on harder times, it is perhaps the best they can do so as not to disrupt their children's education by moving them from a school where they are happy and have friends, to one where they'll have to start all over again.

Haribosmummy · 04/04/2009 16:05

You are sure the funding is in place.

I wonder, if whoever DOES pay the fees suddenly told you that funding WASN'T in place whether the reality of moving your DD would seem so attractive?????????????????

My DSDs go to private school, paid for by us, not thier mother. I'm sure she'd go BALLISTIC if we suddenly told her we couldn't / wouldn't cover school fees.

kidcreoleandthehotcrossbuns · 04/04/2009 16:06

People buy allsorts of things on credit....cars, holidays, plasma tv's...and also a terms private education. Maybe they are expecting some money soon. It's their business isnt it?

Quattrocento · 04/04/2009 16:07

I've just paid next term's fees on my overdraft! This is a practical cashflow matter of having a free £10k overdraft and not wanting to take money out of savings. It is literally impossible to finance an entire school education from an overdraft. From 3-18 would cost around £150k per child.

My feeling is that they are pleading overdrafts etc as a way of being inclusive. Which is nice, isn't it?

Original poster

dilemma456 · 04/04/2009 16:13

Message withdrawn

OP posts:

scienceteacher · 04/04/2009 16:17

We occasionally have to chip into our mortgage reserve to pay for school fees.

It is worth it.

Northernlurker · 04/04/2009 16:26

How is any of this your concern anyway? So they pay it out of the overdraft - 'meh' and move on!

piscesmoon · 04/04/2009 16:27

It may simply be a cash flow problem.I think it was just a kind remark to make you feel better.

peanutbutterkid · 04/04/2009 16:44

We are thinking about sending DC to private secondary, but would not do it out of overdraft. Maybe extend the mortgage, if we had to (4 dc) but that's the limit for me, personally.

Haribosmummy · 04/04/2009 16:55

But thinking about it in advance and the reality of removing your child from private school are two very different things, IMHO.

If you have a short term cash flow, then you aren't going to take your DC out of a school they are happy in, are you?

Do people really have a list of 'OK' things to spend their overdraft on?

MollieO · 04/04/2009 19:11

Must be nice to have the benefit of an educational trust to pay school fees! No one I know has that. Instead we all do juggling on a monthly or termly basis.

risingstar · 05/04/2009 09:43

if people are paying school fees on an overdraft, so be it. to have a view on it is a bit daft. we are sending our dd to independant next year, we do not have masses of savings, we have always overpaid our mortgage instead esp as we didn't intend to send her to private school. I used to be at people who extended their mortgage to pay for holidays or cars. Maybe before now i would have been the same about school fees. Lets face it, you do what you need to do.

if you want to "fit in" i would keep quiet about your good fortune to have a trust fund to pay for your child's education. You will probably find that most other parents are working long hours and making difficult choices and sacrificies to educate their kids.

Hulababy · 06/04/2009 21:46

I actually don't know of anyone who'd seriously plan to finance fees through overdrafts, apart from perhaps on a temp measure to benefit from free overdrafts or CC balances, etc - as part of a longer term finance planning thing.

However it really isn't anyone else's business how people do finance their fees. I would avoid the subject with other parents TBH, esp if you are not having to find fees yourself and thers area, regardless of reason.

londonartemis · 06/04/2009 23:26

People will use overdrafts to help cash flow. Not everyone has the same income every month. The alternative might be to pull the child out of the school, lose deposit and be liable for the next term's fees - so the overdraft might actually be the cheaper option. Horses for courses.

stitchtime · 06/04/2009 23:58

if a kids education is important to the parents, and they feel that the education they wan tis only available through the private sector, thenthey will do what ever it takes to pay those fees on time to ensure the child continues in the school they have chosen

you are in an incredibly priviliged position to have a child in private schooling without worrying about paying for it.

slowreadingprogress · 07/04/2009 00:02

agree with stitchtime, absolutely

It hardly sounds like a position of choice, more of need - nothing to do with being in 'right minds' at all.

NormaJeanBaker · 07/04/2009 00:22

I paid for everything on my overdraft until left a bit of cash in wills. Frankly I'd rather be out of my mind still using the overdraft and have my parents back.

carocaro · 07/04/2009 10:28

It is your child, if you are not happy with it, change it, you can decide what you want for your child surley? Don't blame others. And you really should not judge others about how and why they pay their kids school fees.

carocaro · 07/04/2009 10:32

PS: and for those who do I am sure many of them are in 'their right minds' and are just doing what they canto help thier child.

HappyMummyOfOne · 07/04/2009 10:52

I found the OP quite funny, saying that she worried about being judged because she lived in a flat yet is doing the judging herself because somebody else pays for a terms fees on their overdraft!

Not everybody has somebody else to pay for their childs education - the overdraft has to be paid back so at least they are paying for it themselves than relying on somebody else to pay the fees for them.

Flip

1 2