The cost of sending a child through private education has rocketed to £286,000, according to new research.
Fees have more than trebled since 1990 and continue to rise above inflation, according to the figures.
The average cost per year of a boarding school place today is £30,369, while a day school place is £13,194 – 342 per cent higher than in 1990 – the Centre for Economics and Business Research said.
Over an education of 14 years from primary school to A-levels, that means today’s parent will fork out £286,000 per child for a day school place and £468,000 for a boarder.
“Even with two parents working, as fees outpace earnings, many professionals are now unable to afford private schooling,” adds the report, carried out for financial planners Killik & Co. “With total annual costs now worth 38 per cent of a doctor’s disposable salary and 59 per cent of an accountant’s, it is clear many professionals who traditionally send their children to private school may struggle.”
London remains the most expensive region with an average day school place costing £15,500 per year. The North of England and Scotland are the cheapest at £10,400 and £10,700 respectively.
However, a survey found a third of parents who privately educate their children believed it was an “investment priority” – stating that smaller class sizes was a major consideration.Reuse content