mtmconsulting has announced that it will repeat and extend research undertaken in 2007 into how parents afford and pay for their children’s independent education.
Three years ago, mtmconsulting published the first-ever survey of how parents pay school fees. Some 900 parents from 14 schools took part. Until then, very little reliable, detailed and up-to-date information about how parents actually fund the cost of their children’s education had been available.
The mtm School Fees Payment Survey 2007 found that:
- Two thirds were two-income households;
- One family in six devoted more than 40% of their income to paying fees;
- Three quarters had reduced spending in other areas to afford fees;
- One in six had an extra job or did extra overtime to afford fees;
- About a third used investments and savings to pay fees – a fifth of these using more than 60% of their savings;
- Two thirds of parents had made no advance financial plans;
- Only 13% had any form of external help with fees – mostly from relatives;
- Fewer than two-thirds were confident that they would continue to be able to afford fees to the end of their children’s education.
mtmconsulting plans to repeat and extend the research in 2010 and is now looking for partner schools
Why a new survey?
- Economic circumstances have changed radically since 2007;
- Schools need more than ever to understand the financial pressures on parents;
- A more robust study is needed: the 2007 sample size was small;
- mtmconsulting’s online survey technology has improved;
- No other agency is undertaking this vital research.
How will the new survey be conducted?
- With an online questionnaire, on a secure web page, using the same technology as we use for school parent surveys;
- Participating schools will invite parents to participate anonymously, preferably by email, using a standard format drafted by mtmconsulting;
- No personal data will be required by mtmconsulting from schools;
- No personal data will be collected in the questionnaire which could identify any individual family;
- Each school’s parents will have a different logon, permitting a school-by-school benchmarked analysis, as well as an aggregate report.
All schools that take part in the survey will receive a copy of the full final report; analysis of responses from their own parents, benchmarked against the national results (provided sufficient parents participate); a clearer understanding of how financially robust their own market is; an indication of parental preferences for payment methods; and credit with parents for showing sensitivity to family financial pressures.
If you would like more information or to discuss your school’s participation in this exciting and vital research project please contact mtm.