Inflation demands strict school fees planning

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Price rises averaging 6.7% annually are hitting parents of those with children born in 2004 who want to plan ahead for school fees, and threaten to load them with a £134,000 cost of education over seven years of future secondary education, says JP Morgan Fleming Asset Management.

It is no secret that inflation in the private education sector is well ahead of RPI over the past decade, which is even more reason to plan ahead, the investment trust provider says. Even a well-performing investment trust would require significant monthly sums invested – several hundreds of pounds – to meet that objective, the provider adds. IFAonline

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