School Fees in Advance Schemes
Some UK independent schools and colleges offer a facility for paying the whole of a pupil's fees, or a lump sum covering a number of terms or years, in advance direct to the school. The amount required varies according to the school chosen, the number of terms that the student will attend the school and the date of the advance payment. Fees may be paid in advance by parents or grandparents. This facility is also known as Pre-Paid or Composition Fees.
Paying fees in advance normally attracts a discount which may be better than the interest which could be earned on the same sum held in a savings account. Details of the schemes available and any discounts offered are obtainable from the Bursar's office of the individual school. Schools will generally require that a minimum number of terms or years would be covered if entering into the scheme.
It is also worth enquiring whether fees paid in advance can be transferred into a similar scheme at a different school, in the event that it is necessary for your child to change schools at some point in the future.