Investing In Your Children's Future

According to new research, children attending privatethemselves products of private education are
schools have more chance of outshining theirprobably more likely to choose this route for their
state-educated counterparts when it comes tochild at some stage.
qualifications and eventually high paying jobs. TheyIt should be noted that the curricula set by the UK
also stand an improved chance of winning Oxbridgeeducation departments are looked upon as a
places and are admitted with lower grades.minimum requirement by most independent schools.
There are around 2,400 privately run and privatelyRoughly 620,000 children are now being educated in
funded schools in the United Kingdom. Children asprivate establishments. A representative for
young as two years old can be enrolled into pre-prepSainsbury's Bank says there has been a marked rise
school nurseries before going on to prep (orin applications for loans to help with school fees in the
preparatory, to give it the full name) schools whenpast year. They, in line with other lenders, fully
they reach the age of five. Preparatory schools areexpect to experience a growing number of parents
so called because they prepare children for entry totaking out loans for this purpose.
senior independent schools when they reach the ageWhen it comes to funding, unless you've planned
of 13 or 14. Many senior schools require children toahead and made some provision for the fees, some
pass an entrance examination.help is going be needed. Even parents who have
Some schools offer special facilities for children giftedmade plans via various schemes may find they need
in a particular area and can offer special training intopping up with the increased costs of private
addition to wider academic curriculum. Others simplyteaching. If you can't afford to pay the fees out of
offer what the parents see as a better all roundincome or by robbing your savings, borrowing may
education and an improved start in life for theirbe the solution.
offspring.Assuming you're a homeowner, remortgaging to
Disillusioned with state education, many parents makerelease money is normally the cheapest option.
considerable financial sacrifices to send their childrenMortgage rates will usually be lower than those on
to private schools. Around a quarter of these parentscredit cards and personal loans and equity in your
have average or lower than average incomes.home could be exchanged for a lump sum, which
The cost of this education for a two to seven yearcould then be invested to cover the fees over a
old is around £1000 to £1500 per term orperiod of time.
£3000 to £4,500 per year. As far asIf you're not a homeowner, or would prefer not to
boarding schools are concerned, the average fees ofgo down this route, then an unsecured personal loan
girls are around £20,400 per year and for boysmay be the answer. Loans can be used for almost
a slightly higher £21,600.anything and repayment periods are flexible. Log on
Parents have differing views on the right age to getto the internet for more information on the subject -
onto the private education ladder. Some parentsan on-line broker will be able to offer all the options
start off hearing glowing reports of the localand advice that you need, with a minimum of fuss
kindergarten and may feel that a year or two thereand form-filling.
will give their child a head-start when they take theirWhichever way you choose to go, what better
place at state primary school. Some decide to goinvestment can there be than your children's future!
full-on from the start and plan their child's educationA word of warning for your youngster though - as a
soon after birth. Probably many more become moreteacher once said to my own son, "Just because
and more disillusioned with their child's progress andyour parents can afford to send you to a private
opportunities at the local state school and turn to theschool doesn't mean you don't have to put any
private sector for help. Parents who wereeffort in. Believe me, you will!" - And he did.