Friday, 22 July 2011

School Fees Inflation 2011

The latest ISC census is out and figures within it show amongst other things the level of increase in the cost of private education.

Last year saw on average the cost of private school fees increase by roughly 4.6%

In monetary terms that means the average cost of a year at private school is now for the first time over £13,000 per year.

To make those figures a little more meaningful here is the breakdown of the variant fees from boarding schools and days schools etc.

The last two years have seen inflation much lower than the long term average. The average annual increase in school fees between 2000 and 2010 was around 6.24% whereas last year saw a 4% increase and this year 4.6%.

Looks as though inflation for school fees may well be on the rise again!!!

Generally the largest annual expense a school has is its wages bill and in the past I have explained to people looking to send their children to private school that the reason private school fees inflation is so high, is partly down to inflation within National Average Earnings.

Interestingly the Office for National Statistics suggests that to for the year April 2011 wage inflation was 1.8%. I appreciate that a national average, given the current austerity measures sweeping public sector jobs will weigh heavily on this figure but even so, this is nowhere near the majority of a schools inflationary increases... So why the increase I wonder.

In any case, with school fees doubling over the last 10 years it is imperative for those considering sending their children to private school that they consider the overall cost of private education over the full 15 or so years rather than just what the fees are today...

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