In an age of continuing austerity, one Scottish school has launched a novel plan to provide parents an easy-pay option to educate their children.
Fernhill School is a Catholic establishment based on the outskirts of Glasgow, Scotland’s largest city.
In an attempt to attract and even retain fee paying parents, the school has launched a long term repayment plan to ease the financial burden of paying for the education of a child.
The innovative plan offers parents the option of paying for the cost of education over a 10 year period. But unlike repaying credit, the school does not charge any interest on the long-term repayment schedule.
For parents that may find the present financial situation challenging, the offer from Fernhill will be manna from heaven as the annual dues will be significantly reduced. Equally, for savvy parents with some cash on hand, they may want to consider some generous deposit accounts where they may be able to squeeze a little extra income.
Of course, the flip side of the offer from Fernhill most likely underscores a growing difficulty parents are facing in providing this level of education for their children. It is a difficulty that is shared well beyond the suburbs of Glasgow.