Bursary application

[AMxx]

Hello,

My DD applies to 2 independent schools and following assessment days & pre-tests she's been offered a place at both conditional upon satisfactory results at Common Entrance. I'd expressed interest in a bursary and have been invited to progress an application at one of these schools.

My situation is is little unusual to the extent DD and I live with my parents. We've done so since she was 2 when my ex left us. Housing is very expensive in the area we're in & I couldn't and still can't get a mortgage large enough to buy a house. Even if I could, I wouldn't be able to afford childcare & basic living. I earn what I feel is a relatively decent amount (not enough for school fees sadly!) but thanks to living with parents, even with contributing to household expenses & paying all our expenses, I've been able to save towards a bigger deposit down hence reducing the amount of mortgage I need.

I'm wondering if the school will expect me to liquidate these funds even though we don't have a home?

I was also surprised the forms don't account for ''living expenses'' - food etc so wondered if they make some form of allowance for this?

I'm getting myself into a pickle worrying about all this, even though I've always known it's a hugely long shot.

Any insight / experiences from others very gratefully received x

I think it depends on the school. Why don't you call the bursars and discuss your situation? They've usually had experience of a wide range of financial scenarios and are very approachable so might be able to give you a yay or nay. Another thing to bear in mind might be how well your dd performs. Bursaries are limited so usually go to the top academic performers/music/sports scholars etc.

It really depends on the school and also will it be reviewed annually? They normally are so if you have funds ringfenced for a deposit then they might expect this to used when reviewing annually. There should be a section on the form for living expenses and discretionary spend. If not then they will likely work this out from your bank statements.

Unfortunately there’s no point in speculation here. All you can do is fill in the forms with as much evidence and detail as possible - and then see what they say.

I’m sure they come across an infinite variety of living arrangements.

Have you had any discussion with them regarding whether your parents would be able to contribute to school fees? They may ask about that.

Many schools do take into account assets whatever form they might be. Whether that is equity in a home or savings. Thus if you do have a big pot of savings intended for a deposit (equivalent of equity in a house) this is likely to be taken into account, but as others have said do talk to the bursar. We applied for a bursary and it was a negative - too much equity in our home (but it meant we would have to sell to pay for fees) and I could also forgo the £1800 I spent on a season ticket each year to get the train to work and cycle instead the 12-15 miles each way - in my mind not practical. The form filling and home visit were invasive but we felt it worth a shot. Some schools won’t be so tough. We decided independent secondary wasn’t for us as a family. We are putting one terms equivalent money away a year for potential sixth form that is private but so far DD is doing great in local state school and every indication is she is thriving and wants to stay on at her current school for sixth form so the savings may turn into a pot to help her get on property ladder instead.

For some schools you are best buying a house with the deposit before applying. Otherwise if it's sitting in a bank account they will expect you to use it. It really depends on the school. Many of the schools offer bursaries blind to the exam scores. Every school is different and many may not disclose how they base their decision to you. Be truthful but I would buy a house for that deposit. Everybody has to have a hone to live in. Having £100k equity in a home is very different from £700k and some schools would never expect you to sell up the family home. Be truthful and transparent and apply to more than 1 school as they all assess differently

Thanks all. I am always truthful perhaps to a fault, so want to be as transparent as I can. The school bursar wasn't up for a discussion at initial stages and it seems they assess internally vs use a company like some schools do. I'll include a side letter to explain the circumstances and see what comes. Assessment results are considered for the bursary and they have a 2 stage application process for this reason. I made a preliminary application pre-assessment, and then was invited to progress post assessment when DD was also offered a place so I assume they have considered her academic ability based on assessment.

yetanotherdiagnosis 700K equity I wish lol!!!! :-)

Quartermiss - the forms asks regards grandparents contributions and unfortunately this is not an option. We live in their home and this they can offer us, but cash sadly they don't have.

a/ have you looked at this? www.theschoolrun.com/school-bursaries-and-scholarships
b/ if you end up not being able to get her into an independent school, all is not lost. I spent my last years in a State comprehensive school helping bright, hardworking students get into Russell Group universities. With such success that my colleagues and ex-students urged me to write down how other students could do it, without the benefit of a private school education, as they had done. Which I have now done. pm me if interested.