Paul Clifford
Relationship Director - North
School Fees Planning
Cooper Parry Wealth can give you clarity on the best way to fund your children’s education through the means available to you – all in line with your future goals.
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Funding Private School & University Education
If you’re planning to put your children in private education followed by university, it’s likely to be one of your biggest spends.
Currently, the average fee for independent schools is over £18,000 per year (Source: Independent Schools Council). If it’s a boarding school you’re eyeing up, that figure is north of £40,000. Since 1 January 2025, there’s also 20% VAT on private school fees and boarding, which will apply to pre-payments too.
If your child is still very young, there are ways to plan for this large annual outgoing over many years by building up a school fees pot. Saving systematically in the preceding years can be a good approach and we can help you work out a sensible amount to save on a regular basis.
If you’re a grandparent and you’re looking to support grandchildren, then trust planning can be an extremely tax efficient way to help.
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Tax-Efficient School Fees Planning
At Cooper Parry Wealth, we help you plan ahead for education costs with a strategy tailored to your goals.
We’ll recommend the right asset mix for your education fund based on your risk tolerance, timeline and values, structured in a tax-efficient way.
Where schools offer advance-payment discounts, we’ll advise on whether it makes sense for you.
Grandparents can also play a powerful role. Through trusts or Family Investment Companies (FICs), they may be able to gift funds tax-efficiently using children’s allowances. These structures can offer significant benefits but require specialist advice.
If you’d like to explore how to fund education as part of your wider financial plan, speak to our team.
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UNIVERSITY FINANCES
If your children also go onto university, it’s likely they will still need financial support, as even if they apply for student loans, these are unlikely to be adequate.
Many of our clients have questions about whether they should apply for tuition fee loans and maintenance loans or pay for their children’s university education upfront.
There are pros and cons to both, and lots of variables to consider. We’ll help you decide the best course of action, based on your financial position and long-term goals, your children’s future earnings ability, and other behavioural factors, like instilling an appreciation of the cost of their education and perhaps helping motivate them to succeed in their studies.
SMART WAYS TO FUND HIGHER EDUCATION
UNIVERSITY COSTS GUIDE
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THE PEOPLE WHO CAN HELP YOUR CHILD’S FUTURE
A great education is one of the most powerful gifts you can give. Our advisers help you plan ahead for school and university fees with tailored, tax-efficient strategies designed around your family’s goals.
Whether you’re investing early, reviewing advance payment discounts, or exploring opportunities for grandparents to contribute, we’ll guide you every step of the way.
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FAQs
Typical fees for day schools are £6,152 per term (around £18,456 per year) (Source: Independent Schools Council), with costs rising further due to the introduction of 20% VAT from January 2025.
Tuition fees and living costs for university can add up to over £60,000 across a three-year degree, making higher education a major financial commitment for families.
It’s recommended to start financial planning as early as possible. This includes assessing when fees will begin, the number of children, expected fee increases, the potential use of student loans, income and assets, and your overall risk profile.
IMPORTANT
Investment values and income can fall as well as rise, and you may get back less than you invested. You could, in some circumstances, lose all your capital. Past performance is not a guide to future returns. Overseas assets may be affected by currency movements, and inflation may reduce future purchasing power.
Lifetime cashflow planning, trusts and Family Investment Companies are not regulated by the Financial Conduct Authority (FCA). Content on this website is:
Based on current UK tax legislation and believed to be accurate at the time of publication, but may change. Tax treatment depends on your individual circumstances, including residency and domicile.
For general information only and does not constitute financial advice. You should seek independent professional advice before making financial or investment decisions.
Intended for UK investors only and does not constitute an offer or solicitation to buy or sell any investment product.