14 July 2020

Half of parents pay for educational support during lockdown - Royal London

9 min read

 
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Becky O'Connor

Personal Finance Specialist

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Half of parents with dependent children (50%) have paid for additional educational support to help their children with home schooling since the beginning of the UK lockdown, including educational websites and apps (27%), virtual tuition (25%) and educational textbooks and reports (15%), according to research by Opinium on behalf of Royal London.

These parents have spent on average £26 each month on educational support, with a fifth (20%) spending £40 or more each month. This is likely seen as money well spent though as parents estimate their child or children spends, on average, 4 hours 42 minutes each week using the paid for resource and materials, with a quarter (24%) spending 6 hours or more each week.

 

Among higher income group parents, 60% said they had paid for additional education support during lockdown, compared to 29% of lower income parents.*

 

Becky O’Connor, personal finance specialist at Royal London, said: “Lockdown has resulted in home-schooling parents turning to educational support –much of which they have had to pay for. While some parents might be able to afford to pay for things like tuition, access to this support depends on household income.”

Note to editors

*Higher and lower income groups defined by Opinium according to the occupation type and level of the chief income earner in the household and categorised as either ABC1 or C2DE socio-demographic groups.

About Royal London

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.

At Royal London, we’re proud to champion the value of impartial advice. We believe it plays a crucial role in connecting people with the products that are right for them – and is key to delivering better outcomes and experiences for our customers. At the same time, it helps to build trust in our products and services.

Royal London works alongside advisers not in competition with them. That’s why we’ve made some key commitments to the intermediary market. You’ll find more detail on our commitment to advisers at http://adviser.royallondon.com/campaigns/our-commitments/

For further information please contact:

Becky O’Connor, Personal Finance Specialist