Financial
The currency used in the United Kingdom is the pound sterling (GPP) and is denoted by the £ symbol. Pence are the equivalent of cents. The United Kingdom uses a floating exchange rate. Check the Bank of England, the central bank of the U.K., for current exchange rates. Paper currency denominations in the U.K. are: 5.00, 10.00, 20.00 and 50.00. Coin units are: .01, .02, .05, .10, .20, .50, 1.00 and 2.00.
In a report by the World Economic Forum (2011), the United Kingdom’s Banking Financial Services were ranked first out of 60 countries. The “Big Four” banks in the U.K. are: Lloyds Banking Group, Barclays, HSBC and the Royal Bank of Scotland. The British banking system offers similar services to American banks. However, the use of checks is quickly declining, prompting the U.K. Payments Council to consider ending the use of checks for payment sometime in 2018.
Education
With a literacy rate of 100 percent, the United Kingdom has demonstrated the effectiveness of its education system. The U.K. is ranked thirtieth in the Legatum Institute’s Education Sub-Index (2012), placing it among the highest- ranking countries in Legatum’s measurement of 142 countries. The World Economic Forum (2011) also gave the United Kingdom’s education system a high rating, placing it twenty-ninth out of the 142 countries in the study.
Along with gender equality in schooling opportunities and high enrollment rates in primary education, an impressive 86 percent of the population is satisfied with education quality, according to the Legatum Institute. The pupil-to-teacher ratio in the U.K. is 18 students per teacher.
The United Kingdom’s school system is divided into three stages: pre-compulsory (before the age of 5), compulsory (ages 5 to 16) and post-compulsory (ages 16 and above). The pre-compulsory stage consists of what we know as the pre-school level of education. These can include playschools, nursery schools and pre-prep schools, all of which are subject to evaluation and inspection by the government.
By law, the compulsory stage of school is required for all children between the ages of 5 and 16. The stage itself is broken into two different phases: primary (ages 5 to 11) and secondary (ages 11 to 16). These are equivalent to the elementary through high school years of American schools. During these years, students follow the United Kingdom National Curriculum set by the United Kingdom’s Department of Education and are required to take a number of Standard Assessment Tests (SATs) to monitor their progress. Towards the end of their secondary education, students must take and pass the General Certificate of Secondary Education exam before leaving their compulsory education and moving onto the next stage.
The post-compulsory stage is for students who wish to continue their education. Students have the option to complete their A-levels (for ages 16 to 18) at their previous secondary school. It is during this time that students begin working on college applications and requirements. In these two years, the students must maintain excellent grades and scores if they want to be able to attend the colleges of their choice. Some colleges, such as medical and dentistry schools, might require applicants to take additional exams in order to qualify for admissions. Nearly one-third of U.K. students choose to pursue a higher education.
In terms of the school year, the U.K. system follows a familiar but somewhat longer schedule. The school year begins in September and ends in July and has three terms. Major holidays such as Christmas and Easter are observed, as well as a six-week summer vacation. During school hours, a majority of campuses require their students to wear the appropriate uniform, typically consisting of blazers and trousers or skirts.
Registering your child into public or “state schools” is simple. According to the U.K.’s Department of Education, as long as the parents legally enter and intend to live in the United Kingdom, their child will be entitled to the same admission arrangements and free compulsory education, regardless of immigration status. Contact your local authority for an application pack for schools in your area. Forms are usually made available by September and applicants have until November to submit them. Parents will be notified between March and May about the decisions of the schools.
Another option is private or “independent schools.” With approximately 2,300 independent schools in the U.K., there are many to choose from. Independent schools set their own policies and curricula. Parents and investors of the school are the main provider of funds. Despite separating themselves from the public school system, independent schools still must register with the Department of Education and are subjected to inspections and evaluations to ensure standards for the students. Many parents believe that independent schools offer a superior education and help build powerful connections for their children’s future. Some elite universities such as the University of Oxford and the University of Cambridge may look favorably upon applicants who have attended such prestigious independent schools. As expected, the tuition and other costs can be well above the means of the average income. For example, Eton College, the school that Prince William attended, charges nearly US$16,000 per term. Despite the high costs, renowned schools like Eton and Harrow receive plenty of applicants each year and are very competitive. If you are considering independent schools as an option, visit the Independent School Council website for more information and schools in your area.
If you want your child to continue on with the American education curriculum, then international schools may be more suitable. The American School in London is the only one of its kind in the city and serves many American expats. ACS International Schools is another great option and has campuses in Cobham, Egham, Hillingdon and Doha.
Homeschooling is another option for parents who live in the United Kingdom. According to the Department of Education, it is completely legal for parents to homeschool their children. In fact, there is no requirement to inform the authorities besides officially withdrawing the child from any school that he or she might have previously attended. Online programs such as The Calvert School and The Keystone School may be good options for parents who want to teach their children at home.
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