The bespoke advice service will offer clear guidance and practical financial solutions for parents worried about covering private school fees in light of rising costs and the application of VAT.
According to figures from the Independent Schools Council at the start of this year, the average annual private school fee came to £22,000, which is an increase of nearly half over the past decade.
Parents can explore a range of funding tools, including remortgage, further advance, second charge mortgages and equity release.
The firm said second charges with drawdown facilities can allow parents to release equity gradually rather than a lump sum, which can cut interest costs and offer flexibility when planning for multi-year school fees.
The company will launch on 17 October at the National Schools Rugby Festival at St Joseph’s College, Ipswich.
Mind the affordability gap
Sponsored by Newcastle for Intermediaries
Rob Jupp (pictured), CEO of The Brightstar Group, said: “Tens of thousands of children now face an uncertain future for their education. Hard-working families who sacrifice so much to prioritise their children’s education need support and clear options.”
Perry Glading, chair of governors at St Joseph’s College, commented: “We were delighted to support Rob and his team throughout the process of bringing The School Fees Company to market. There’s never been a more important time to give parents the tools and information to be able to look at the whole range of options when it comes to paying independent school fees.
“It’s great that the launch event will be at our internationally renowned National Schools Rugby Festival, which is the largest such event in the country.”
