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Why are Eton College fees rising by 20%?
Eton College's fees are set to rise from £52,749 to about £63,000 due to the UK government's removal of VAT exemptions for private schools. This policy aims to generate funds for state education, including hiring new teachers, which has led to increased financial pressure on private institutions.
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How will the VAT exemption removal affect private schools?
The removal of VAT exemptions will significantly increase operational costs for private schools, leading many to raise their fees. This change is part of a broader government initiative to redirect funds to state education, which may create a financial burden for families considering private schooling.
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What are the implications for families considering private education?
Families looking at private education may face tougher financial decisions due to rising fees. The increase at Eton College reflects a trend among private schools to adjust their pricing in response to government policy changes, potentially limiting access for some families.
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Are other private schools also raising fees?
Yes, other private schools, such as those in the Girls' Day School Trust, are also increasing their fees. However, some institutions plan to absorb part of the cost to mitigate the impact on families, indicating a varied response across the sector.
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What is the government's rationale behind this policy?
The UK government's policy aims to generate approximately £1.5 billion annually for state education, which includes hiring 6,500 new teachers. This move is part of Labour's manifesto and reflects a shift in funding priorities from private to state education.
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How can families prepare for these fee increases?
Families can prepare for rising fees by exploring financial aid options, considering scholarships, and evaluating the long-term benefits of private education against the costs. It's essential to stay informed about changes in the education landscape and plan accordingly.