Consolidated fees question
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Consolidated fees question
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?
Best Regards,
Thea
Thea
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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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.