To cut costs, you could limit the years of private education, perhaps concentrating on the age of 11 or 13, leading up to the key exams, and use a good state school for the earlier years. But experts suggest that even with ten years to go before school fees are needed, you will probably have to save 500 a month to pay for the years of 11 to 18. You may be able to get a scholarship to pay for part of the fees. They are given by schools to gifted pupils. Many may also offer what is called a bursary, a reduction in fees, which does not depend on the ability of the pupil.
Some schools do special deals for children of the clergy, teachers or service families.
Some will do a cheaper rate if another member of the family goes to the school. Saving money to pay for school fees is different from other sorts of investing because you know exactly when you will need the money. That is an advantage in that you can plan a series of investments that pay out as the child reaches certain ages. You can put your money into fixed-term investments that are also protected from some of the ups and downs of the market, such as corporate bonds. Many companies will borrow money from you, pay you interest at a fixed rate for a number of years and then guarantee to repay your capital in full at the end.