Your money blog: Is it possible to secure an affordable deal when it comes to boarding school?



Although they’ve become increasingly popular with students from overseas in recent years, the rising cost of British boarding schools has actually prevented many middle class families living in the UK from being able to afford them.

The top five most expensive British boarding schools have more than doubled in price since 1994. But along with the more elite establishments, there are cheaper alternatives when it comes to boarding.

“Some good schools charge fees of just £21,000 (Dh98,727),” says Sarah Sparling of UK boarding school specialists Anderson Education. “They may have a charity foundation that offers funding, or they’re located further away from London and the South-east, which make them less costly.”

Campbell College boys school in Belfast, which sits on 100 acres that include a lake and a forest, is recommended by the Good Schools Guide and yet costs a mere £12,576 a year.

Failing that, British passport holders might consider a state boarding school, which usually charge annual fees of about £12,000.

For second and subsequent children attending the same school, sibling discounts are often available.

A parent of a particularly gifted child might consider applying for a scholarship – but don’t expect it to mean a discount off the fees. “These days, finances are reserved for bursaries and means-tested pupils,” says David Wesley, the director and founder of The British Boarding Schools Show.

He claims that many British boarding schools select half their sixth form students “based on almost perfect GCSEs” and the other half are chosen “because they think they will contribute to the community”. “They might be a great chess player, or a talented sailor, for example,” he says. “The advantage of scholarships is they can really help with applying for university, especially for students wanting to head to the United States to study. A scholarship can really help your child to stand out.”

Ronald Mangravite, author of the book American Prep: The Insider's Guide to US Boarding Schools, says that many US boarding schools have generous financial aid programmes that even upper income families can access. He adds that American universities place a high value on students who have been to boarding school. "Many college placement officers at the schools are personally acquainted with their college counterparts; it's a kind of club, in many instances."

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Tips for SMEs to cope
  • Adapt your business model. Make changes that are future-proof to the new normal
  • Make sure you have an online presence
  • Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
  • Open communication with customers to see how they are coping and be flexible about extending terms, etc
    Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says. 

Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

Ruwais timeline

1971 Abu Dhabi National Oil Company established

1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants

1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed

1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.  

1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex

2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea

2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd

2014 Ruwais 261-outlet shopping mall opens

2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies

2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export

2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.

2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery 

2018 NMC Healthcare selected to manage operations of Ruwais Hospital

2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13

Source: The National

About Tenderd

Started: May 2018

Founder: Arjun Mohan

Based: Dubai

Size: 23 employees 

Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital

Safety 'top priority' for rival hyperloop company

The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.

He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.

“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.

“Only once the system has been certified and approved will it move people,” he said.

HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon. 

With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.

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The Laughing Apple

Yusuf/Cat Stevens

(Verve Decca Crossover)

 

 

THE SPECS

Engine: 2.0-litre four-cylinder turbo

Transmission: eight-speed automatic

Power: 258hp at 5,000-6,500rpm

Torque: 400Nm from 1,550-4,400rpm

Fuel economy, combined: 6.4L/100km

Price, base: from D215,000 (Dh230,000 as tested)

On sale: now


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