Fees for private schools up by a fifth

Research published today by Lloyds Bank suggests it is becoming increasingly difficult for some parents to afford to educate their children privately, with average fees now taking up more than a third of average full-time salaries.

Independent school day fees have increased at a slightly higher rate over the past five years that the Retail Price Index over the same period (20 per cent).

Since 2009 the average annual private school fee for day pupils has increased from £10,176 to £12,345 in 2014.

There was no separate figure for Yorkshire schools but across the North fees have risen from £8,184 to £9,984. This is lower than anywhere else in England or in Scotland or Wales.

The study also shows that just over a third of pupils have received financial help to help pay fees. Lloyds said the average value of this support was £4,687.

Sarah Deaves, private banking director at Lloyds Bank, said: “Private school fees have increased to almost £12,500 a year which is four times more than the rise in average earnings over the past five years.

“It is, therefore, becoming increasingly vital that parents plan ahead as early as possible, to ensure that they secure the future they desire for their children.” Matthew Burgess, general secretary of the Independent Schools Council, said the majority of private schools are not-for-profit charities.

He said: “There is no complacency on the part of school leaders who have a responsibility to safeguard the financial viability of the schools they run and are fully aware of the constraints on parents, who have already contributed through their taxes towards the cost of state schools.

“It’s no surprise that parents will compare fee increases to inflation or changes in take-home pay, but the cost basis of a school is skewed towards teacher’s salaries, pensions and national insurance contributions, utilities, food and maintenance of school buildings.” He said independent schools were increasingly subsidise the cost of their service for low-waged parents.

The new Education Secretary has revealed she is open to the possibility of allowing state schools to make a profit.

Speaking on a webchat Nicky Morgan said any policy would need to be thought about “very carefully” but she is “happy to have lots of further advice” on the issue.