Grandparents in Britain are stepping in to help cover rising private school fees, which have been affected by new VAT changes that could increase costs by up to 20%. With average fees on the rise, families are increasingly turning to older relatives for support. A survey revealed that 35% of parents in private education sought financial assistance, with many leaning on grandparents. However, financial experts caution that this reliance may threaten the grandparents' long-term financial health, as they deplete their own resources to cover educational expenses for their grandchildren.
"The rising cost of private school education, exacerbated by recent taxation changes, is compelling many families to rely on grandparents for financial support."
"Financial experts warn that while grandparents might be eager to help pay for their grandchildren’s education, they may inadvertently jeopardize their own financial stability."
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