Sainsbury's Bank finds loans used for public school fees
www.moneynews.co.uk > Loans > Sainsbury's Bank finds loans used for public school fees
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Sainsbury's Bank finds loans used for public school fees
Mon 8th Aug 2005
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The bank, which is currently promoting a summer loans sale, showed that loans totalling up to £46 million could be taken out in 2005 to fund public school fees.
Worryingly, the research also found that of those taking out personal loans, only 38 per cent shopped around to find the best deal.
Rachel Brereton, loans manager at Sainsbury’s Bank said: "Given that the number of fee paying pupils has increased by four percent over the past five years and that fees have risen by 43 per cent over this period, we expect to see more parents taking out loans to help pay for their children’s school fees.
"Those parents doing this need to make sure that they shop around and find a competitive rate."
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Related News : Sainsbury |
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