Independent school fees planning - in verse!

UK private education costs a lot – we understand

Sums this duration and size, should be meticulously planned

When your child’s school is chosen then find out the termly fees

Make a forward cash ladder schedule showing when you’ll be paying these

Using compound interest and your own inflation estimate

Work out what you’ll really pay (by now you might be in a state).

However, the work isn’t finished; now you need to work out what

You would have to save each month to cover off the entire lot

Remember that the cash you save will generate some interest

Adjust for this in your cash ladder once you know where you’ll invest

Use the annuity formula to make this tricky calculation

Check your math for errors as these can cause serious aggravation

If you have some cash already set aside for future needs

You can make a lump sum investment before your savings balance recedes

If you need to know how much, then use DCF formulae

This will give you the right answer – try it out and you will see

If you baulk at all this math – let’s face it could take all day

Come to allaboutschoolfees.com and we will take the pain away

School fees search update and a new independent school fees rhyme

Its fascinating to watch the economy slowly crawl out of recession.  We have noticed a distinct uptick in the number of Google searches for "independent school fees planning" and "public school fees" as well as an increase in traffic to www.allaboutschoolfees.com.  It's difficult to clearly strip out the seasonal trends in search habits but it does seem as if parents are finally feeling bold enough to start planning for private school fees again.  Good news for school, parents and the children!

Finally, another ode to amuse you (or not!)

 Private school fee calculations

Are quite tedious and complex

Doing these horrendous sums

Will turn you into nervous wrecks

Come and use our easy software

To calculate your child's school fees

You will find all computations

Can be done with speed and ease

Another dodgy Steve Wagstaff

School fees giving you conniptions?

allaboutschoolfees makes it clear

Just buy one of our subscriptions

Everything you need is here

Private school or private babysitter?

As schools remain closed due to the inclement weather we've noticed a new issue bubbling up amongst private school parents...they are getting increasingly cross that schools are closed due to the snow.

Whatever the reason: lack of staff, poor access and hazardous condition, "health and safety", parents are contacting schools to effectively demand that they open in all weather.  "We pay for education so you should educate" is the theme.  However, when you dig a little deeper the reason is often something else, its childcare.  We heard of one parent who wrote to his son's headmaster saying that they should be open in all weather and if necessary ask boys to take in packed lunches and reading materials.  The father noted that his staff had got to work so the teachers should (ignoring that its' a small school located a fair way from any main road and is valued for its rural surroundings), and that any form of engagement with students was better than them staying at home.  This parent then gave his position away when he said that if the school was closed he couldn't work as he didn't have childcare sorted.

This is new territory for schools, as they balance the limitless fear (which in my experience is generally unfounded) of health and safety with the practicality of opening a school and the desire to placate harassed parents - his clients -who need to get to work.

So far private school parents are on the same ground as state school parents - they all need to get to work and don't generally have emergency childcare lined up.  What then changes is the use of school fees as a justification for private schools to act differently to the state system.  I'm not sure this is reasonable and feels like saying to the armed forces "we pay your wages through our taxes so come and clear my drive".  Perhaps that's a little extreme but private school fees are meant for schooling, not childcare.

If you trust your headteacher to look after and educate your child, why doubt him now over something like weather, and his opinion on how many staff he can muster and his opinion on the safety of your child?

I don't have an answer but surely we need to be practical here and check our values, a days earnings and education over our childrens' welfare?  I know this sounds dramatic but I wonder what "angry dad" would say if the school was open regardless of conditions but then became snowbound and his son was stuck at school one day and forced to camp overnight the classroom?  Be careful of what you wish for?

Two more school fees odes to make you smile, or grimace!

Does the thought of your child’s school fees make you want to run a mile?
allaboutschoolfees.com has some software that will make you want to smile
You can tinker with inflation, choose your very own savings rate
We make calculations easy; no need to get in a state

If you have some cash saved up, we’ll tell you how much to invest
To cover off the total cost, by using compound interest
Monthly savings, or lump sums, both are dealt with on our site
Visit allaboutschoolfees.com and get your calculations right

3 school fees rhymes to brighten your morning:)

When school fee planning gets you down, go to the neatest site in town


School fee planning needs are addressed at Allaboutschoolfees - we're the best



School fees can be lots of fun; if you plan with Jane and Ron.

With our site you plan with ease; we won't bring you to your knees.



Allaboutschoolfees is impressive; now you do not have to guess if

You can afford your child’s education; our software does the calculation

Saw this on IFA life and loved it. You may well have seen it before:)

New revenue leads for all IFAs from allaboutschoolfees.com

http://www.allaboutschoolfees.com/ has received a huge amount of interest in its on-line school fees modeling tool from the IFA community.

The site calculates expenditure – and savings requirements over the life of children’s private education. The tool uses powerful algorithmic software and the only complete database of UK private schools and their fees, to generate bespoke fee schedules. The schedules can be per child or per family with infinitely customised of rates of inflation and savings growth, lump sums and savings holidays. The ability to use the lump sum functionality to set an opening investment amount, which neutralises all the future cash flows, is of particular interest to IFAs.

Once a parent sees how much they need to save over an extended period of time, or invest today, their next question is always “what should I invest in, and can it be tax-efficient?” The answer is that they need to speak to an IFA.

The www.allaboutschoolfees.com modeling tool is available for a fee of £34.95 incl VAT per license (which allows for 5 children to be profiled over 5 separate plans using up to 20 schools per plan), but we will also set up bulk purchases of licenses for £23.00 incl VAT. As well as representing a large discount over the regular price, a bulk purchase avoids the need for individual registrations and cuts time spent making individual payments.

This tool takes the legwork out of creating school fee schedules, and creates a professional and reliable centrepiece for any client report. When an IFA walks a client through an allaboutschoolfees.com report, there is simply no need to persuade them they need to buy an investment product – they’ll be asking you what to buy.

Visit http://www.allaboutschoolfees.com/

How to push water uphill!

Independent Financial Advisors exist to give people financial advice but how do they persuade their prospective clients that they NEED that advice and they NEED the products suggested by the IFA.  This is like trying to push water uphill, with client lethargy and low levels of trust in place of gravity.

However, there is a way.  Think differently about water: freeze it to make ice, which you can push.  Equally, IFAs need to think differently about how they approach their clients.  Clients are far more likely to accept help to implement "their" idea or one generated by an independent site than one suggested directly to them so why not give them a tool they can use, sitting with the IFA or alone.  This tool may suggest that they need a proper long term financial plan and that the plan needs to be underpinned by a product or account.

allaboutschoolfees.com does exactly this by allowing parents, guardians, grandparents and IFA to create bespoke long term cost and savings plans to cover private education.  With the average 2 child school fees bill costing nearly £600,000, it is clear that it makes sense for parents to take some finance advice, and this is is where the IFA comes in; a client who knows they need advice.  The water has been pushed uphill:)

School fees planning pick-up?

We've noticed a real pick up in the number of enquiries from IFAs and parents asking about long term school fees planning.  At present its hard to tell whether this is a sign that the recession is ending and people are starting to plan again, or whether it is driving them to plan because they fear for the future.

Either way we know that the best way to plan for the future is to know what you are planning for, hence the vital importance of actual data and the ability to create bespoke private school fee schedules.  Too often we hear of people relying on "ready reckoners" from mass market websites and the newspapers, as if every school charged the same and every family's circumstances are the same.  Just as well we created allaboutschoolfees.com!

Securing a scholarship

Usually, boarding schools entails higher educational expenditures especially in the United States and United Kingdom. Although as of now, there are already public boarding schools that existed in this nation that entails lower educational expenses or entirely offered a free education to the deserving learning especially those who got a higher grades in their academics and financially unable to continually support their studies. With that, here are some top 10 tips in order to support secure a scholarship whether for academic matters, granting aid or some other special kinds of scholarships to be offered.

1. Pleading of poverty. The Charity Commission have insist that independent schools must be able to justify towards a charitable condition in order to gain more chances of getting a larger bursary as the respective boarding school vie on in order to show their readiness towards receiving these able pupils regardless whether parents can be able to pay over the tuition fees of their children. But, the scholarship applicants must be able to prepare for further evaluation in terms of their income background of the family as one basis for scholarship approval.

2. Just don’t bank the brains. Those chidlren who will be enrolling for students scholarships might be brilliant but during these days the mere brightness does not only bring on any financial returns. Since, fifty years ago those boys and girls who have done their best in entrance exams have got a higher financial support in their education. Nowadays, the entire thrust funds of most private boarding schools are planning on for subsidizing the financially strapped learners rather than be able to reward those who are academically gifted. Its been seen that educational scholarship values had already been plummeted from its 50% until to 10% of its fees and in some other schools they have already become honorary to it.

3. Studying its form. Like any other punter that will be preparing towards an investment, there will be a need to inform itself for its entire options rather than ploughing on through its list of entire boarding school in the nation. Be able to know the different scholarships that the boarding schools will provide in the search engine available in the internet.

4. Eligibility of scholarship. It’s quite important to know the eligibility of the educational scholarships that those different boarding schools provided and if the scholarship qualifies to its scholarship.

5. Be prepared for bargaining. If the child are quite talented especially on academic matters, it’s suggested to inquire the authorize school personnel in the boarding schools regarding to the educational scholarship that they will be providing.

6. If the family had a serious background of financial assistant support needed, there will be a higher possibility of being accepted in the scholarship that comes from Joint Educational Trust.

7. Getting a half price towards boarding expenses. Considering that one of the nation’s 35 state running boarding schools where in they will be able to pay towards their meals and as well accommodation but not to its education. Several of these educational learning institutes will be catering towards their children together particular aptitude on it that includes the Brymore School of Rural Technology, Duke of York’s Royal Military School, and some others.

8. Swimming towards it. There are several boarding schools that offer swimming scholarships that includes the Plymouth College that only had 39 children that receives on a 50% off for their boarding school fees. So, those children who are good swimmer are entirely had a higher possibility to obtain these kind of scholarship and support a lot their boarding school education.

9. Government scholarship. Both in United States and United Kingdom, they have provided a governmental scholarship that entirely support those individuals who wanted to continue their education program but don’t have enough financial resources to support on it.

10. Don’t ever give up. If there are some challenges upon foregoing gaining an educational scholarship especially to its requirements don’t be discourage take it as learning experience and be able to find another scholarship that will entirely fit in.

The Fees company collapse

The Fees Company, which dealt with 70 schools around the country collapsed on September 8, leaving parents possibly thousands of pounds out of pocket.
The small company, based in Currie, helped parents spread the cost of paying their children's bills, which are levied by the school once a term. Instead of having to pay a bill of up to £8,000 three times a year, the parents made monthly payments to the company. The company – in return for an administration fee of about £30 a month – passed onto the school, making the upfront payment itself. Some smaller schools with limited administrative staff insisted parents use the company to pay their fees, if they wanted to pay monthly rather than termly.
Parents have already paid two months' of the four months' payments that go into autumn term's fees. However, The Fees Company had yet to pass that money onto the schools.

School fees info help for financial advisors

Having some really interesting meetings with IFAs to discuss how the school fees modeller on http://allaboutschoolfees.com can help create new business for them. We're very excited about the prospect of getting IFAs to buy professional packs of subscriptions...

School fees increases

Private school fees for 2009/10 will be available on allaboutschoolfees.com for all schools from early August http://www.allaboutschoolfees.com

An indirect benefit of private education?

Private school pupils 'earn more'

People who have been to private school earn 30% more than those who went to state schools, research suggests.
Family background has traditionally been seen as a major factor behind children's achievement and earnings.
Research by Kent University and the London School of Economics confirms this but says higher grades achieved at private schools are the crucial factor.
The study found that 20% of the pay gap was due to such better exam grades and 10% to family background.
The research, published in the journal Significance, suggests that the gap between earnings of state and private pupils has widened in the past 50 years.
About 8% of children in the UK go to independent schools.
For the study, researchers analysed data on 10,000 people from the British Household Study who went to school in the 1960s, '70s and '80s.
'Substantial impact'
The authors concluded: "Private schools do indeed have a substantial impact on earnings later in life. Moreover, the effect also seems to have increased over time."
Researcher Richard Murphy, from the London School of Economics, said: "You would expect family background to have a high impact on earnings and it does".
But he said qualifications were very important and that if someone at a state school achieved the same exam results as someone at a private school, they should earn the same amount, the research suggested.
But when the researchers "controlled" for qualifications - removing their influence from the calculations - they isolated an earnings benefit due to attendance at a private school.
Private schools do indeed provide benefits for some individuals above and beyond those that accrue through qualifications and access to good universities
Study
This benefit, they said, was felt most by those who went on to the highest paid jobs, but did not have an impact on the lowest paid groups.
The report said: "Private schools do indeed provide benefits for some individuals above and beyond those that accrue through qualifications and access to good universities.
"Whether these benefits come through 'old boy networks', 'old girl networks', through superior careers advice systems, or through unmeasured broad competences that are not captured by formal qualifications, we cannot say.
"But, apparently, it is only those in the top half of the spectrum of earning ability that benefit substantially in this way.
"These are the people of naturally high ability, or who have gained entry into high-quality schools.
"For those in the middle of the spectrum, the extra benefits are much smaller, though still significant; for those at the bottom they are non-existent."

IFA demand for school fees data

We've been dealing with some interesting questions from independent financial advisors in regards to independent school fees data. They are after a financial modeller that generates lump sum savings requirements as well as fee schedules and savings plans. Fortunately allaboutschoolfees.com has such private school fees data.

Strong demand for private education

www.allaboutschoolfees.com have been reading a survey by Ipsos MORI for the Independent Schools Council (ISC) that finds independent education to be more popular than ever. Nearly three in five (57%) of all parents would send their child to an independent shcool if they could afford it. This is the highest level since Labour came to power in 1997, up 20% (nine percentage points) on the last survey in 2004.
Support is highest among Conservative voters (74%), resident in the South of England (66%) and C1s (65%). Among Labour voters support has increased significantly since the previous survey with 54% now saying they would educate their child privately if they had the means (up from 41% in 2004). Support is lowest in Scotland where only a third would pick the private option.
The most common reason remains "better standards" cited by 66% of parents while "better discipline" has doubled in popularity since 2004 (from 14% to 30%). This has now overtaken smaller class sizes, as a key reason. "Better teachers" has also increased signficantly as a reason (from 8% to 15% now).
The shift in the popularity of the independent education sector has come primarily from those people who were previously undecided or who had no opinion about the independent sector. Conversely, the proportion who who not send their children to an independent school, even if they could afford it, remains unchanged at 36%.
State school standards being "just as good" (44%) and good in their own right (24%) remain the key reasons for selecting the state sector.
In addition, the survey also found highly positive perceptions on a number of aspects of independent education with:
· 77% agreeing that independent schools offer 'good university/employment prospects' (25% strongly agreeing)
· 72% agreeing independent schools offer 'high academic ability' (23% strongly agree)
· 73% agreeing independent schools 'provide opportunities for pupils to fulfil their potential' (23% strongly agreeing)
There are also positive associations with the 'excellence in arts, music and drama' (50% agreeing) and the 'excellence in sport' (46% agreeing) offered by the independent school sector.
There is less consensus on the the 'value for money' (36% agreeing) and the 'mix of pupils from different backgrounds' (33% agreeing). On balance more adults disagree with the latter statement (40%).
Other negative associations prevail which suggests that there is a need for the sector to make a stronger case for its public benefit value. There is most criticism for the sector 'not making facilities and skills sufficient available to the community' (44% agreeing) and being 'out of touch with society and the local community' (37% agreeing). However, in both cases, similar proportions to those that agree are either neutral or do not have an opinion.

What is vital is that parents understand the cost of private education and understand the school fees involved. The long term fees planner from www.allaboutschoolfees.com can certainly help here!

Our logo:)

Hopefully the name says it all, its a site that covers private school fees, and its called www.allaboutschoolfees.com

Our first print ad will look something like this...

An essential resource for parents researching Independent Education;

· covers all UK independent schools
· authoritative Library and school search facility
· the Modeller©, a bespoke fees and savings calculator

Use our unique Modeller© to create long term fee schedules and savings plans for your children’s education, specific to your chosen schools, using actual fees, and variable inflation and savings rates.

Intuitive, flexible and only from allaboutschoolfees.com

Invaluable to Financial and Education Advisors
Now available for parents

www.allaboutschoolfees.com

A sign of things to come?

Poor 'isolated' in private school

Pupils offered free or subsidised places at independent schools can often feel isolated, a report suggests.
Research into the assisted places scheme (APS), which operated in the 1980s, found some pupils felt estranged or even alienated from their schools.
The Sutton Trust education charity said this held lessons for how private schools today should devise schemes to accommodate poorer children.
It found they could not go on school trips, for example, due to the expense.
The APS was brought in by Margaret Thatcher's Conservative government in 1979 in an attempt to provide a ladder of opportunity for academically able children from poorer backgrounds.
It was abolished 18 years later as Tony Blair's first education policy announcement.
Cultural visits
A total of 25 former recipients of an assisted place in the 1980s were interviewed by the Institute of Education at the University of London for the research.
Virtually all said they could not participate in out-of-school activities, such as field trips, cultural visits or foreign exchanges, because their parents could not afford to pay for them.
This research shows that private schools need to look beyond the simple question of fees when opening their doors
Sir Peter Lampl, chairman of the Sutton Trust
For some this was a key factor in becoming estranged or alienated from the independent school they had attended.
Those interviewed also often spoke of not being able to participate in weekend and after-school activities.
Very long journeys to and from school were also a barrier to involvement.
Suggestions that private schooling provided useful social networks for adulthood were not backed up by the research - only four reported strong friendships with former schoolmates.
'Important lessons'
The Sutton Trust promotes social mobility through education. It has funded a large number of access projects in early years, school and university settings.
Independent schools increasingly are providing financial support for their pupils' families.
The recent Independent Schools Council census showed that about a third of pupils in member schools, 168,564, received assistance with fees, up 6.08% on 2008.
The Sutton Trust chairman, Sir Peter Lampl, said: "Although the assisted places scheme ended a decade ago, it has important lessons for contemporary efforts to open up independent schools and for the current debate over these schools' charitable status.
"This research shows that private schools need to look beyond the simple question of fees when opening their doors.
"Poorer students need other financial and pastoral support if they are to make the most of the opportunities the private sector can offer."
The director of the Institute of Education, Geoff Whitty, said: "There is no doubt that many recipients of assistance enjoyed great benefits, both at school and in later life.
"However, the most disadvantaged pupils found it difficult to fit in and were at higher risk of dropping out of education early.
"A proper assessment of the costs and benefits of the scheme also needs to consider its impact on local state schools, some of which lost their brightest pupils to the scheme."
www.allaboutschoolfees.com can help parents understand the cost of private education

Calling all IFAs

In addition to our hunt for Sarah Ebner from the Times we are also trying to contact UK based Independent Financial Advisors. The ones we have met and have shown the modelling ability of www.allaboutschoolfees.com love it. The fact that we have both cutting edge software and all school fees for every private school in the UK helps make a fantastic product for both IFAs and parents. It now all down to the marketing....