Private schools limit fee increases due to pandemic pressure - Palmers Solicitors

Private schools limit fee increases due to pandemic pressure

Private schools limit fee increases due to pandemic pressure

The latest data from the Private Schools Association suggests that fee increases have been significantly curbed as a result of the Covid-19 pandemic.

The Association’s annual census reveals that UK private school fees rose by an average of 1.1% over the past 12 months, compared to a 4.1% increase the previous year.

The average fees for day students currently stands at £15,191 per year and £36,000 for boarders.

At the start of the pandemic many independent schools lost a significant portion on their income due to school closures and overseas travel restrictions.

However despite the initial economic problems, the census has revealed that the number of students has dropped by just 1.3% from a record high of 532,237,

Concern in recent months over lost learning has also led many parents to consider private schools as a future option.

Analysts suggest this increased demand could lead to higher fees in 2022.

Barnaby Lenon, Chair of the Independent Schools Council pointed to the fact that the successful early adoption of online learning by private schools meant that the majority of parents continued to pay termly fees.

“They were able to stick to us during this most difficult time,” he said. “It wouldn’t be surprising if this continued. Many schools reported a significant increase in applicants for September 2021.”

Palmers Solicitors’ Director, Luke Morgan, said: “Schools in both the state and independent sector have struggled with the ongoing financial impact of Covid-19.

“Whilst this latest report suggests green shoots of recovery for some private schools, it is important to seek advice and practical support from specialist advisors who can provide guidance on a range of measures that will help your school not only survive but also thrive in the long-term.”

At Palmers, our experts are able to assist with:

  • Advice relating to staff and employment law including redundancies
  • Negotiating with creditors
  • Advice on amalgamations and closures
  • Charitable and trust requirements
  • Merger and acquisition opportunities
  • Due diligence for schools considering a M&A
  • Securing equity funding

For help with all aspects of financial advice and legal support, please contact us.