School Fees

The School operates a scheme under which a family member, or someone else with the consent of the parents, may make an advance payment of fees by depositing a lump sum in the general funds of the School at any time after a place at the School has been accepted. In exchange for the Advance Payment, the School allows a discount in the fees, calculated at compound rates of interest. An Advance Payment should be made by cheque or BACS and may cover any number of terms subject to a minimum of three terms and a maximum of the number of terms that would take the pupil up to the end of Year 8. Payments in cash cannot be accepted.

The amount of the discount depends on interest rates and economic conditions at the time when the Advance Payment is made; it will be based upon the rate available for an equivalent term deposit at the time. The standard table provides an illustration of how the discount (commutation) is calculated.
A quotation should be requested from the Bursar which will set out the discount available to you based on the amount you wish to pay over a specified period. The commutation rate will be fixed for the period of the agreement.

Anyone with parental responsibility, or with the consent of those who have parental responsibility, may make an Advance Payment. The School reserves the right to verify the identity of the payer and source of funds paid into the scheme.

The benefits can include:

• Guarding against a future change in circumstances that might put the cost of private education beyond a family’s means
• Providing an opportunity for estate planning for the purposes of inheritance and other taxes. In these cases, we strongly recommend that professional advice is first obtained from a tax adviser or accountant
• Obtaining a discount on the fees that will eventually be payable, which is worth more the higher the rate of tax of the payer (see below)

Updated Dec 2023

At the time of going to print we are advised that the discount taken on the fees is not taxable. The gross discount actually obtained, therefore, is dependent upon the payer’s top rate of tax. For example, if the payer is a higher rate tax payer, paying tax at 40%, a 2.5% discount is equivalent to investing the money elsewhere at a gross rate of 4.2%.

No. Annual increases together with all other normal additional charges are invoiced and payable term by term in the normal way. Individual arrangements can, however, be made if required by means of an additional deposit of funds against which those increases and additional charges would be credited term by term with a discount.

The payer is in the position of an unsecured creditor regarding the Advance Payment. FIA receipts are not held in escrow, and unrestricted funds that the school has access to. However, the net capital assets of the School are substantial based on the 2023 statutory accounts.

If the pupil leaves the school, the balance of the funds after payment of all outstanding sums due to the School will be refunded to the person who originally paid the FIA, without interest.

No. Every pupil must be able to satisfy the admission requirements at the time which may include an academic assessment and a reference as to the pupil’s character and general progress.

All payments are accepted under the Scheme Conditions, a copy of which is available from the Bursary. They in turn refer to the School’s standard terms and conditions, as varied from time to time, which also apply. In general, the person who makes an Advance Payment does not acquire any rights or obligations under the contract with the School unless he/she is a person with parental responsibility.

To request a quotation please complete a quotation request form and return to Charlotte Wood, Bursar (bursar@beachborough.com). You will need to include details of the termly amount you wish to pay as a lump sum, as well as the number of terms you wish to pay over in order to receive a quotation.