GORDONSTOUN School is planning to offer mortgage-like facilities so that parents can spread the costs of fees over 20 years.
The initiative, which has come from the school governors and was led by the Princess Royal, aims to attract pupils from lower income families. It means that parents, who currently have the option to pay annual £15,000 fees over the course of the year, can spread the costs even after their children have finished their education.
Gordonstoun, where Prince Philip and his three sons were pupils, has been associated with 10-mile punishment runs and cold showers in the past and the Prince of Wales is known to have disliked the strict regime that he endured. But the Morayshire school, also attended by Princess Anne's children, Peter and Zara Phillips, has worked hard to modernise its image.
The "education mortgage" intends to persuade parents from all social groups to enrol their children. At the moment the school has 410 students, with 10 spaces still available.
Angela Harkness, who has recently been appointed development director at the school, said: "The Princess Royal is a hard-working member of the school's governing body, and she really wants this to be set up soon. It is important to her, and the board agree wholeheartedly, that the opportunities available at Gordonstoun should be open to as many people as possible.
"To this end she has put her weight behind this initiative to secure a competitive financial package for parents who may want to spread their fees over as much as 20 years, like a mortgage. We will be contacting some former pupils who are key players in the finance industry to come to the aid of their alma mater, and we hope that an attractive arrangement will be in place some time this year."
The school also offers an arrangement with a credit company for payment of fees, but many parents have found the interest rates a deterrent.
Miss Harkness, said the school would also be taking tough action with any pupils leaking stories to the press after announcements made in school assemblies. She said: "There are so many opportunities here for all youngsters. At the end of their time here, they are such fantastic young people - no wonder they go on to achieve so much."
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Ex-king will fight election(Electronic Telegraph)
THE former king of Bulgaria says that a monarchist party will be formed to contest the country's parliamentary elections in June. Simeon II made the pledge after the country's Constitutional Court ruled that, as a non-resident, he could not stand for the presidency.