We are now offering a Fees in Advance Scheme to enable families to reduce the cost of independent education by making a lump sum payment in advance. 

A copy of the detailed Scheme Conditions can be found below, but the key points to note are: 

• This scheme replaces the current informal arrangement where a lump sum is paid to the School and utilised on a drawdown basis against invoices raised each term. 

• Our Finance team will work with you to provide an illustration of the forward coverage of fees that is achievable with a lump sum payment.  Once agreed, the School will invoice for those specific term costs and this is intended to create the tax point in relation to the provision of those services. 

• A discount of 2% will be applied to term fees in respect of funds paid in advance under the scheme. 

  FREQUENTLY ASKED QUESTIONS

  What does the advance fee provide? 

  It secures guaranteed specified amounts towards the total cost of a child’s education per term, starting at a certain date. In addition, a discount is applied termly, based on the agreed rate. 

  When does the advance fee period start? 

  Advance Fees are those in relation to a forthcoming academic term beyond the current billing period.  For example, feepayers signing up for the Advance Fee payment scheme in Summer Term 2024, will have payments applied to Autumn Term 2024 onwards and applicable discounts will be applied from that term onwards. 

  What happens if the school fees go up by a different amount to the assumed scheme rate? 

  The scheme only guarantees providing specific amounts towards the costs of education. Because fees tend to increase by a varying amount each year the scheme does not undertake to meet the whole cost of the provision of education. The parent or guardian is responsible for meeting the difference between the new fees and the termly amount provided under the advance payment, or a credit will be applied for any fee increase which is lower than that assumed. 

  Are there circumstances in which the advance fee may be repaid? 

  Yes. Firstly, if a pupil is withdrawn before entering the School, or if the pupil is not admitted, the advance payment may be refunded to the person who paid it, 
  Secondly, if a pupil leaves the School before the end of the plan, there will be a refund of the unspent capital sum. 

 For further details or a personalised illustration, please contact billing@radnor-sevenoaks.org