Tony Little, head of Eton College, has warned that some private schools could be forced to close in the next few years as the credit crunch worsens. He said these were “difficult times” and parents may be unwilling to pay fees, which can amount to thousands each term. Mr Little said the financial crisis could also threaten the free bursary places offered by fee-paying schools. New regulations say schools have to show they cater for the “wider public benefit” in order to maintain their charitable status.