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PostPosted: Mon Jun 23, 2008 6:50 pm 
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Joined: Mon Dec 05, 2005 3:01 pm
Posts: 250
Location: Richmond
After the euphoria of getting iDS into the school we wanted - have now signed the DD for the fees :( The school we chose does offer a scheme whereby you can get a reduction by paying upfont for minimum of 6 terms - they do not state a specific percentage, but get a bespoke quote on request - this depends on the gilt price (??) at the time of the request. So... have put in a request for a quote - does anyone have any knowledge or experience of this?

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Thea


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PostPosted: Mon Jun 23, 2008 6:58 pm 
Never heard of it! Normally they say that you'll get 5% of the years fees if you pay them in advance, and often if you pay monthly by DD instead of termly you may be charged slightly more. Some of the top schools offer a system where you pay cash lump sums even years before a child starts so it may work on a similar formula. Do you mind me asking what school you are sending your child too?


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PostPosted: Mon Jun 23, 2008 7:02 pm 
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Joined: Mon Dec 05, 2005 3:01 pm
Posts: 250
Location: Richmond
Yes - the cash lump sum is what it is. The school is Colet Court

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PostPosted: Mon Jun 23, 2008 7:58 pm 
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Joined: Mon May 12, 2008 11:32 am
Posts: 138
Hi

My DD school offers this (again by quotation). My guess is any discount for paying upfront will be offset by the interest your money could have been earning.

So choose the one that suits your temperament!


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PostPosted: Mon Jun 23, 2008 8:04 pm 
Well done to your son, I hear CC is one of the hardest schools to get in to!


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PostPosted: Mon Jun 23, 2008 10:32 pm 
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Joined: Fri Sep 15, 2006 8:51 am
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I've seen this with some schools - they even say that if you move that they can transfer the money. The deal is that yes the discount you would get is more or less what you would have gained in interest on the money but you are quite likely to be a higher tax payer and hence would see only 60% of that interest rather than the whole lot so paying the fees up front is a better deal.


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PostPosted: Tue Jun 24, 2008 8:04 am 
I wouldn't pay fees up front because if we land on hard times and may have needed the money for really pressing things then I would regret having done it., and schools often offer bridging bursaries in these situations.


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PostPosted: Tue Jun 24, 2008 8:07 am 
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Joined: Mon May 12, 2008 11:32 am
Posts: 138
Well spotted hermanmunster-

but it should be said the amount of money we are arguing over is only likely to be c £200!


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