One of the core factors for parents to consider an independent school education is affordability. Not only on the termly fees but also expenses-related budgets as massive as boarding requirements, or as small as a few music lessons or school trips.
Long-term equity draw-down plan, or instalments for school fees While early investment of capital could reduce the use of taxed income to pay for school fees in later years, there are a number of schemes that help private school parents to spread the school fees. After minus the amount that the parents could comfortably afford, spreading the school fees for the balance of 30%-40% are possible. It could be spread over 10-, 15-, or 20-year period. Some life assurance policy derived from income or capital sums are helpful early investment.
Scholarships based on Academic or All-round merits Many senior schools or preparatory schools offer scholarship opportunities to attract the bright and talented to enhance the learning environment. Scholarships could be offered in various value based on academic achievement, whole-person merit, or special ability in music, drama, sport, and technology. The awarding of scholarships are at the age of 11, 13, and 16 after competitive interviews and examinations. If the awards are on the basis of public examinations like GCSEs, the students will need to make satisfactory progress by being industrious (i.e. practising with past papers; signing up interview techniques classes) to meet the offer.
Bursaries Unlike scholarships, all prospective students will be able to apply. The amount could cover up all the fees after a mean-testing procedure regardless of academic performance, despite some still reply on academic abilities. The disclosure of financial circumstances and capital assets are necessary for the governors, headteachers, or bursars to assess the application to determine the level of assistance All bursaries are reassessed annually. While bursaries might be rare to allocate at a UK school, private companies sometimes are willing to offer bursaries for those are contracted to work for them for a number of years of graduation.
If you would want to inquire more about international scholarships and bursaries, please contact our Education Consultant, Karen Li Foster at: firstname.lastname@example.org.
Julius Zhang, one of the students under our guardianship, is being interviewed by Independent School Parent to share the experience of obtaining London Bursary at St Paul’s School.
Mark Taylor. “Bursaries and Scholarships Special.” In: Independent School Parent (Spring 2019), p. 50.