Plan private school fees for two children by academic year, not by multiplying a single current invoice.

Different entry dates, school stages and annual fee changes can create a much higher peak commitment than parents first expect. Transport, uniforms, trips and activities may also rise when both children attend at the same time.

The important figure isn’t just the total cost. It is the largest annual commitment the household may need to carry.

At a Glance

• Create a separate forecast for every child.
• Combine the forecasts by academic year to identify sibling overlap.
• Include VAT, fee changes, deposits and additional school costs.
• Ask each school about bursaries, scholarships and sibling discounts.
• Test the peak year against lower income and higher costs.
• Use borrowing only for a defined gap that appears affordable.
• Review the plan whenever fees or family circumstances change.

Start with a separate forecast for each child

Each child may follow a different education timetable.

One child may enter senior school while another remains at prep school. Their tuition fees, transport needs and activity costs may differ. A later move into sixth form or boarding can change the calculation again.

Record each child’s:

• Planned entry and leaving dates.
• Current and expected school stages.
• Tuition or boarding fee.
• Registration fee and acceptance deposit.
• Compulsory extras.
• Transport and meal costs.
• Expected transition costs.
• Confirmed bursary, scholarship or discount.
• Payment dates for every term.

Use figures from the school’s current published fee schedule. Do not rely on a national average when the commitment relates to a particular school.

Combine the forecasts by academic year

Once you have a separate forecast for each child, combine the figures by academic year.

Figures are illustrative and assume annual increases. They exclude deposits, transport, uniforms, trips and other extras.

This example shows why multiplying the first child’s present fee can mislead. The second child enters later, while both fee sets continue to change.

Include fee increases and VAT

Private school education and closely related boarding services have generally been subject to standard-rate VAT since 1 January 2025. Some services and special educational provision may receive different treatment. Parents should read the official GOV.UK guidance on VAT and private school fees.

Fees can also change for reasons beyond VAT.

The ISC Census and Annual Report 2026 found that average fees increased by 4.4% between January 2025 and January 2026, excluding VAT, across schools completing both censuses.

That figure describes a national sample. It does not predict what an individual school will charge.

Create at least three forecasts:

Lower-cost scenario

Use modest fee changes and limited optional spending.

Central scenario

Use the assumptions that appear most reasonable from current school information.

Stress scenario

Allow for larger fee changes, higher household costs or reduced income.

The purpose is not to predict the future perfectly. It is to expose pressure before it becomes urgent.

Account for the costs beyond tuition

Two children can create overlapping additional costs and fees.

Include:

• Uniforms and sports clothing.
• School meals.
• Transport.
• Books and digital devices.
• Examination charges.
• Educational trips.
• Music or specialist tuition.
• Sports activities.
• Before-school and after-school care.
• University preparation.

Some costs occur once. Others return every term or academic year.

Mark each cost as compulsory, likely or optional. This helps families understand which spending could change if circumstances become less favourable.

Focus on the peak-cost year

The average annual figure can hide the most difficult period.

In the example above, the first-year cost is £24,000. By Year 4, the combined tuition cost reaches £50,936 before extras.

Test affordability against the peak year, not the first year.

Ask:

• Could we meet the commitment if fees rose faster than expected?
• What if one child required additional support?
• What if a bonus was not paid?
• Could we manage if one income fell temporarily?
• Would emergency savings remain available?
• What happens when one child moves into a more expensive stage of school?
• Would any borrowing remain after both children leave school?

A plan that works only when every assumption is favourable may not be sufficiently resilient.

Ask about sibling discounts and fee assistance

Some schools offer sibling discounts. Others assess means-tested bursaries across the whole household.

The 2026 ISC census reports that 183,705 pupils received some form of fee assistance. This represented 34.9% of pupils in ISC member schools.

Means-tested bursaries remain an important source of targeted support. The same census reports that more than half of recipients received over 50% fee remission.

Parents can read the ISC’s official guidance on private school scholarships and bursaries.

Ask the school:

• Whether sibling discounts are available.
• Whether the discount applies to every child or only later siblings.
• Whether it applies to tuition only.
• Whether bursaries and sibling discounts can be combined.
• When applications must be submitted.
• How often an award is reassessed.

Do not include possible assistance in the family budget until the school confirms it in writing.

Map the available family resources

Set the peak-year cost against resources that can be relied upon.

These may include:

• Regular household income.
• Existing education savings.
• Confirmed bursaries or scholarships.
• Family gifts.
• Trust distributions.
• Confirmed contributions from grandparents.

Treat bonuses, investment growth and future gifts with care. They may not arrive when a school invoice becomes due.

Keep emergency savings separate from the education budget. Using every available reserve can leave the family exposed to unemployment, illness or major repairs.

Calculate the funding gap

The funding gap is the difference between forecast education costs and the resources the family can safely commit.

A gap does not automatically mean borrowing is suitable.

Parents should first consider school assistance, cost reductions, payment arrangements and whether the education plan can change.

Should borrowing cover every child’s full fees?

Not necessarily.

Income, savings, school assistance and family contributions may meet part of the cost. If a defined gap remains, eligible homeowners may explore property-backed finance.

Possible routes include:

• A further advance from the existing mortgage lender.
• A remortgage with additional borrowing.
• A second charge mortgage.
• A flexible Home Equity Line of Credit.

A staged facility may match termly or annual costs more closely than taking the complete forecast amount immediately. Every drawing still creates debt and interest.

The lowest starting payment does not always create the lowest total cost. Compare the interest rate, fees, term, repayment basis and projected total amount repayable.

Read the main Education Finance guide and the school fee finance affordability guide.

How may lenders assess a family with two sets of fees?

A lender may review:

• Household income.
• Regular expenditure.
• Existing mortgage payments.
• Loans, cards and other credit.
• Current and future school fees.
• Number of dependants.
• Credit history.
• Property value and type.
• Existing secured borrowing.
• Proposed term and repayment method.
• Retirement plans.

The lender may continue treating school fees as household expenditure even when part of the proposed loan will meet an invoice.

The FCA’s mortgage affordability rules explain the regulatory framework for gathering information and assessing affordability.

Review the plan every year

A school fee forecast should change when the family’s circumstances change.

Review it when:

• A school publishes new fees.
• A bursary is reassessed.
• Household income changes.
• A mortgage deal approaches its end date.
• One child changes school.
• Boarding or transport arrangements change.
• A second child enters independent education.

Record the date of each review. A documented plan makes changes easier to understand and discuss.

A fair plan protects every child

Education decisions carry hope, duty and emotion.

Parents may want to offer both children comparable opportunities. Yet fairness does not always mean identical spending at identical times.

Each child may need something different. The family also needs a plan that preserves housing security, emergency savings, retirement choices and emotional calm.

The wisest question is not simply whether two sets of fees can be paid.

It is whether the commitment can be maintained without weakening the stability the education is meant to support.

Frequently asked questions

Do independent schools offer sibling discounts?

Some schools do, but the amount and conditions vary. Ask whether the discount applies to tuition, which child receives it and whether it can be combined with a bursary.

How should we forecast school fees for two children?

Create a separate year-by-year forecast for each child. Combine them by academic year, add extras and identify the period with the highest total cost.

Should we use the same fee increase for both children?

Not automatically. Different schools and age stages may change fees differently. Use each school’s current information and create several scenarios.

Can a bursary cover more than one child?

Each school sets its own rules and assesses the household’s circumstances. Parents should contact the admissions or bursary team early and obtain written confirmation.

Can we borrow for only the peak overlap years?

Potentially, subject to lender criteria and affordability. An adviser can compare staged and lump-sum options, including their total costs and risks.

Does having enough equity guarantee approval?

No. The lender also assesses income, expenditure, credit commitments, school fees, term and repayment strategy.

Speak with an education finance adviser

A Connect Mortgages adviser can help eligible homeowners understand:

• Their property-equity position.
• How lenders may treat two sets of school fees.
• Whether staged or lump-sum borrowing may be relevant.
• How available routes compare.
• The likely interest, fees and repayment term.
• Whether the proposed commitment appears affordable and sustainable.

Connect Mortgages is a credit broker, not a lender. Approval depends on individual circumstances and lender criteria.

Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.