7/12/2008 12:06:00 PM
FT 12 July
The cost of a private school education has sorely tested parents' ability to pay,leaping to one-third of an average person's earnings, research from Halifax Financial Services suggests.School fees have soared 40 per cent in five years, says Halifax, more than double the general inflation rate.It says average day school fees rose to £10,239 for the past school year - 33 per cent of average gross earnings, compared with only 28 per cent in 2003.Martin Ellis, economist at Halifax Financial Services, said the price increase "has made it increasingly difficult for the average worker in many occupations to afford a private school education for their offspring", based on the rule of thumb that fees had risen above 25 per cent of earnings.However, the Independent Schools Council, whose annual censuses are the source for Halifax's figures on private schools, disputed virtually all Halifax's claims.The ISC said it was "difficult" to arrive at a long-term figure for price rises because of a change in the way its census calculates fees. Average day school fees were lower than Halifax's estimate, it said, at £9,579 a year. Average earnings were also a poor measure of affordability because of other sources of money.
FT
MIDDLE CLASSES PRICED OUT OF PRIVATE SCHOOLS
Times 12 July
The middle classes can no longer comfortably afford to give their children a private education, with average fees rising twice as fast as the retail price index. School fees increased by 6 per cent last year — 40 per cent over five years — and, with the cost of food, fuel and mortgages all rising rapidly, parents on middle incomes are increasingly likely to overstretch themselves to educate their children. The retail price index rose 18 per cent in five years. Only those in 18 occupations, including doctors, lawyers and accountants, can reasonably afford the fees if they are the sole household earner, according to a survey by Halifax Financial Services. Times
Lead Story | Independent/ Private Sector
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