Parents sacrificing pensions for child's schooling

A quarter with children in private schools prefers to dip into their existing savings and investments rather than setting up a fund specifically for this purpose. Just 8% have savings specifically for funding their child’s private schooling and 36% parents claim they have to cut back on their nest eggs for other purposes to meet the financial commitments private education demands. Almost 30% say private education takes up 20% of more of their household income. A total of 8% use inheritance to pay private school fees while 16% use bonuses. Extended family members such as grandparents hel...