Whilst it is clearly important to attract
and retain pupils, appropriate emphasis should
be placed on the timely collection of fees
due in order to avoid cash flow difficulties.
Historically fees are due at the start of
each term, but many schools now offer a more
flexible approach to the collection of fees,
allowing, for example, payment of several
years’ fees in advance, or payment in
arrears by monthly standing order. Randall
& Payne can assist with calculating appropriate
discounts or interest charges, the introduction
of third party Fee Payment Schemes or advise
on recovering unpaid fees.
Standing order arrangements, or agreements
to recover outstanding fees may require the
school to have a Consumer Credit Licence to
ensure the agreement is enforceable. We can
help to structure such arrangements to avoid
this additional licensing requirement.
We have also advised schools on modernising
Fee Discount and Reduced Fee Schemes to improve
objectivity and transparency, and ensure the
risk of discrimination is minimised.
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