Private education for those who can pay
The education of children is of paramount importance for a growing number parents who are borrowing from banks pay for their children attend private schools. It is estimated that expenditure on private tuition is about 7.9 billion pounds per year.
The loan manager of Sainsbury's Bank, said that the number of loan applications for Independent tuition increase, as costs have increased about 50 percent in less than a decade. He also said that received 38 percent more applications for these loans during the past year.
"Around 620,000 children are in school private schools, which are increasingly the costs, "he said. "We expect to see a growing number of parents who take loans to help to pay for the education of their children. The parents make sure they need to shop around and find a competitive interest rate. "
Sainsbury's Bank on the basis of data that ONS figures which found that families in London has spent on average Most fees, £ 577.20 per year. The East Midlands spend 140.40 per year was the lowest. These calculations covering all households even if they were children in public schools and where there were no children at all.
The numbers of the Independent Schools Council had numbers showing very different boys school boarding fees of approximately £ 21.600 per year and around £ 20.400 for girls. pre-preparatory school for children two to seven years could cost between one and two thousand pounds a term.
Some 50 large public schools including Eton, Harrow, Winchester and Cheltenham Ladies' does not escape lightly after allegations of fixing the tax by the Office of Fair Trading. It caused a bit of scandal when it was discovered that schools had shared sensitive information, including details of their fees for the last three years and has been increasing all their expenses as well. They were fined 10,000 pounds each to a body Charitable new education.
Surveys have shown that parents increasingly tired of the system status and make sacrifices to educate their children in private.
Some jobs take one, two or three years and it is not unusual for annual leave must be set aside to pay.
Thousands of postal codes of students in 900 schools that are members of the ISC have been analyzed recently. The number of students average or below average income families was 23.8 percent, nearly one quarter. In fact, 9.3 percent, about 43,000 students living in areas where household income is below the national average. Ten thousand of them were described as "evil" and "bad" families lone parents and included those living in council estates or in high rise apartments. Recent ING Direct research has found that There was an increase of 12 percent in recent years to 44 percent now, parents who put money aside for the education of their children.
A spokesman for ISC summary. "The fact that many parents of loans – and thus pay interest – to cover tuition reflects the importance that some parents place on education quality. "Twenty-five percent of parents of pupils in independent average or below average income and many are foregoing exotic vacations or new cars to pay for an independent education for their children. "
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