| StorageSite | UCL Institute of Education |
| AdminHistory | Initially the Girls' Public Day School Company was funded by subscriptions and shareholders. The schools were expected to become largely self-supporting and fees were to be kept as low as possible. The early financial status of the organisation was often troubled by the demands of shareholders who wanted to see a return from their investment. The company also received grants from the government's Science and Art Department, which later developed into the Board of Education. In the 20th century the schools began to accept free place scholars, whose fees were paid by the local education authorities. In 1906 the Trust set up a sinking fund so it would have the funds to pay off the shareholders and the organisation's mortgage debts. The Trust was plunged into financial trouble during the World Wars and many of the schools had been heavily damaged during air raids. In 1944 the Trust joined the government's Direct Grant Scheme, which supported independent academically selective schools. As part of this scheme the Trust had to apply to the government for any fees increases they wished to make. The poor economy in the 1970s hit the Trust hard and they began to increased tuition fees on a frequent basis, which was made worst by the withdrawal of the Direct Grant in 1976. In 1980 the Trust joined the Assisted Place Scheme until it was discontinued in 1997. |