One of the leading private schools in the country is offering discounts to families on a combined salary of £120,000, to avoid it becoming dominated by children of wealthy foreigners.
St Paul's School, which includes former Chancellor George Osborne among its alumni, has rolled out the bursaries after headmaster Professor Mark Bailey said the school had become 'unaffordable'.
Private school fees have risen by 21 per cent in the past five years – six per cent above the rate of inflation and four times faster than average earnings.
Professor Bailey said, in future, families on a combined income of £190,000 would become potential beneficiaries of bursaries.
The school, an academic powerhouse, charges day pupils £23,481 a year, up from £19,674 in 2012.
'The part-bursaries are being offered in a far more generous way,' he told The London Magazine.
'You will be looking eventually at [families earning] £150,000, £170,000, £190,000 potentially benefiting.
He added: 'It was our founder's vision [to educate] boys indifferently of their background and we've drifted away from that. Read more