HSBC provides boost for Assisted Places
04 November 2016
At a time when HSBC is establishing its new UK headquarters in Birmingham, it has strengthened its ties with King Edward’s School by providing support for Assisted Places.
The funds provided by HSBC will pay half of the annual school fees for six boys joining King Edward’s in the Shells for the duration of their time at the School, with the other half of the fees being matched by the School. The first boy to benefit from this funding started in September 2016 and a further five boys will benefit over the coming years.
Since 1552, the purpose of King Edward’s School has been to provide an outstanding education for boys from all backgrounds. From 1944 until 1980 the Government funded places at the School through the Direct Grant System, and approximately 80% of pupils paid no fees at all.
The King Edward VI Foundation currently provides over £1m per year for Assisted Places and, earlier this year, the School completed the Assisted Places 100 (AP100) Campaign which raised over £10m from Old Edwardians, and former and current parents. The money raised from the Campaign is being used to fund 100 boys through the School.
Dr Mark Fenton, Chief Master, said: “HSBC has supported King Edward’s in the past and it is wonderful that they have decided to renew that commitment at a time when they are investing in the city as a whole.
“Birmingham has much to offer as a city, including some of the best schools in the country. As a relative newcomer to Birmingham myself, I am already impressed by the vibrancy and diversity of the city.
“This generous donation from HSBC will provide a life-changing education for six boys who otherwise would not have been able to attend this school. It will also support the School on its mission to become need-blind, as we look forward to our next fundraising milestone and ensure that many more boys can benefit from such visionary support.”