While private education remains a significant draw for many affluent families, a growing number are questioning whether the substantial cost is the most beneficial use of their funds. A survey by wealth manager Saltus indicates that 59% of high-net-worth parents would prefer to invest £100,000 in assets like ISAs or property for their child's future rather than allocate it to school fees.
The cost of private education has seen an increase, particularly after new VAT regulations were implemented in 2025, affecting fees. Data from the Independent Schools Council shows a typical drop of 6.6% in pupil numbers between the GCSE years and the start of sixth form, suggesting some families re-evaluate their choices at this stage.
According to the Good Schools Guide, the average total cost for a child attending an independent school from reception to age 18 can reach £410,000, with top London schools potentially costing as much as £670,000. While schools have absorbed some of the VAT increase, fee hikes have still occurred.
Despite this financial consideration, many families are making considerable sacrifices to maintain private schooling. The Saltus survey revealed that 68% of high-net-worth individuals with children in private schools have made or anticipate making financial adjustments to afford the fees, a notable increase from 55% in the previous report. The most common sacrifices include reducing holiday spending and other discretionary expenditures (42%), seeking higher-paying jobs (20%), relocating to more affordable areas (16%), and downsizing homes (12%). Some parents are also reducing pension contributions (20%) or increasing their mortgage (13%).
Nonetheless, a substantial portion of parents continue to believe in the value of private education. Sixty-nine percent cite the quality of teaching and facilities as justifying the expense, a sentiment echoed by 81% of those who themselves attended private schools. Overall, 57% of survey respondents were privately educated.
Henrietta Grimston, a chartered financial planner at Saltus, noted that while parents highly value the perceived benefits of private education, such as superior teaching, long-term outcomes, and networking opportunities, the transition to sixth form presents a critical juncture for reassessment. She highlighted that the rising cost of sixth-form education, which has seen increases of between £300 and nearly £2,000 in a single year, adds significant financial pressure at a time when families are already making compromises. The decision, therefore, is increasingly framed not just by affordability but by whether it represents the optimal investment in a child's future when alternative investment avenues exist.