We require a deposit on acceptance of a place, of which half is returned as a credit against a boy’s first term’s fees, the rest being returned by cheque after he has left the school (less any deductions for outstanding amounts owing), providing our notice of with drawal conditions have been met.
We do not pay interest on deposits – the fees would simply have to be increased in order to finance it, and it would be subject to income tax. We take this into account though when calculating fee levels.