Cost of private education soars to £129,000

Parents of private school leavers in 2016 who started Primary 1 in 2004 will have paid an average total cost of £128,529 in fees, according to the latest research by Bank of Scotland Private Banking.

During that time, parents in Scotland will have seen an increase of 58 per cent in average annual fees from £7,170 in 2004 to £11,310 in 2016.

The average annual private school fee in 2016 of £11,310 is equivalent to 40 per cent of annual average gross full-time earnings of £33,149.

With school fees rising by significantly more than earnings growth, it has become more difficult for the average earner in many occupations to send their children to private school.

Donald Gateley, Head of Bank of Scotland Private Banking, said: “A place at a private school is a huge financial commitment, with an outlay of £129,000 to see one child through Primary and Secondary education.

“With an average annual fee of £11,310 per child, it is so important to start planning your finances early if you want a private school education for your children.”

Over the past five years, the average annual fee for day pupils has risen by 19 per cent, from £9,492 in 2011 to £11,310.

A total of 160,216 pupils in Great Britain currently receive help, such as bursaries, with their fees representing 32 per cent of all pupils; the value of this help totals over £850 million, an increase of 2.6 per cent on last year. A significant majority (85 per cent) of total fee assistance is provided directly from the schools themselves: ISC schools currently provide more than £700 million of fee assistance, an increase of 3.3 per cent on the previous year.

Although the average fee across Britain has grown by 21 per cent since 2011, pupil numbers remain largely unchanged compared to five years ago. While the number of senior school pupils (11 to 16) has fallen slightly (by 3 per cent), pupils in the other age groups have increased. The number of sixth formers (17 to 19) has grown by 10 per cent, children in nursery schools (0 to 3) and those in junior school (4 to 10) have both risen by 6 per cent.