School fees show 41% rise over five years
The cost of putting a child through a private school education has increased at more than twice the level of inflation over the past five years, according to new research.
Halifax Financial Services stated that prices have gone up by 41 per cent during this time and six per cent in the last 12 months.
It may be that parents are now looking to take out loans or remortgage in order to these bills, with the group suggesting that the average worker in only 13 occupations could send their child to a private school.
"Private school fees have risen," said Martin Ellis, chief economist for the firm.
"The average earner in a number of occupations, including engineers, journalists and teachers, can no longer afford private education for their offspring."
Meanwhile, an increase in those being asked to pay university fees in recent years may mean that fewer people will go through higher education in future.
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