Private School Turns to Parents For Cash Bailout

AN independent school has appealed to parents for an emergency £500,000 bailout after its bank credit was abruptly withdrawn.

The governors of Bolitho school in Penzance, Cornwall, last week called parents to a meeting in the pupils’ gym to announce that they needed to raise the money within weeks or the school would close.

The plight of Bolitho, which teaches 350 children from four upwards, is the latest evidence of the impact the recession is having on private education.

Dozens of schools are up for sale, some have closed and others are cutting staff to keep fee rises to a minimum and stave off an exodus of parents.

Julia Hopson, a Bolitho governor, said HBOS, the bank that had to be saved by a government bailout last autumn, withdrew the school’s overdraft facility just two days before Christmas.
She said the school was trading at a surplus and that pupil numbers were growing.

She claimed HBOS’s letter was a “bolt from the blue”, adding: “The banks show no mercy. They do not care about the pupils.”

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The Sovietisation of the education system continues with help from the rip off bankers