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Parents left in lurch as school fee investment plans plummet

THOUSANDS of parents who thought they had provided for their children's private education through trust plans have found the value of their funds slashed. Investors in Equitable Life's School Fee Trust Plan have been hit by turmoil in the mutual society and may now have to dig deep. They had invested in plans intended to provide a yearly income to meet school fees. Average fees at day schools are pound;1,881 per term. In boarding schools they range from about pound;3,000 per term for Scarborough College to about pound;5,800 for a school such as Eton.

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