Fees and Funding
Introduction of VAT on School Fees
When VAT is introduced in January 2025, rather than impose the full amount on fees immediately, we have developed a plan to phase the passing on of this tax to parents over a period of three academic years. Overall, we do not intend to pass on more than 15% of the VAT cost to parents.
We will do this by reducing the school fees we charge so that when the VAT is added, the overall bill to parents will increase by no more than 5%.
Our plan for the introduction of VAT on school fees is outlined below:
Academic Year 2024-25
In January 2025, 5% of the VAT cost will be passed on to parents.
Academic Year 2025-26
In September 2025, another 5% will be added.
Academic Year 2026-27
In September 2026, a final 5% will be passed on.
We also anticipate the need to increase fees in line with inflation. However, we are committed to managing costs very carefully, to keep these increases to an absolute minimum.
We hope our plan helps to soften the impact, making the transition more manageable for parents, despite the challenges.
Funding Support
Bursaries
Bursaries are available from Year 7 – Year 13 in case of financial hardship.
Bursary applications are reviewed on an annual basis and consider parents’ financial circumstances, any award would be means-tested.
A successful candidate for a Scholarship may also be considered for a bursary. The overall percentage of fee remission would depend on a means test.
Those in receipt of a bursary are expected to remain at Eureka College throughout their secondary education.
Other Support
OB Loyalty Discount: Past pupils of the school who are members of the Alumni Association can apply to the Head for a fee discount.
Forces Personnel: We offer an exclusive package for military families in receipt of Continuity Educational Allowance (CEA) where families contribute only 10% of our boarding fee in addition to CEA.
