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Parents who want to send their children to a private school should start saving for the school fees early, a money expert says.

Rising education fees mean that parents will have to start budgeting and making savings elsewhere if they choose this route for their kids, David Kuo, head of personal finance at Fool.co.uk claims, with one way to pay for this price increase potentially being secured loans.

"Almost at the point of conception they probably need to start saving up because private school fees are accelerating at a rate that is faster than the rate of inflation for the ordinary consumer," he says.

Understanding finances and budgeting plans available will help when deciding which type of education youngsters are to receive, he adds, which may interest parents who are looking into secured loans to pay for private school fees.

Fees have risen by an average of 40 per cent over the last five years, according to research by Halifax Financial Services.

This rise is more than double the increase in the Retail Prices Index, which stands at 18 per cent.

Parents discussing their children's education may consider secured loans, where a home provides security to the lender in case of non-repayment.