they ll have to make teaching assistants redundant or cut their hours. the government says it is giving schools an extra four billion pounds in funding this year. here s our education editor, branwen jeffreys. it s all go for these four and five year olds, learning through new experiences. but making the sums add up is getting harder. some teaching assistants have left and not been replaced. that s because the bills are going up. we are tightening our belts and it gets to a point where, how much more can you tighten? we are shopping around as much as we can to make sure that we re getting the best possible deal on milk and paper, but that takes a lot of time, and also those prices change. so we are doing our very best, but i don t think it sustainable to keep at this level of tightening, because there s only so much you can strip back before, actually, the impact on the children is massive. these are just some of their rising costs. the 5% teachers pay increase is £90,000 extra. the
up is getting harder. some teaching assistants have left and not been replaced. that s because the bills are going up. we are tightening our belts and it gets to the point where, how much more can you tighten? we are shopping around as much as we can to make sure that we re getting the best possible deal on milk and paper, but that takes a lot of time, and also those prices change. so we are doing our very best, but i don t think it sustainable to keep at this level of tightening, because there s only so much you can strip back before actually the impact on the children is massive. these are just some of their rising costs. the 5% teachers pay increase is £90,000 extra. the cost to the school of each meal up from £2.30 to £2.87. the bus for one school trip, up from £870, to 1,070. paper, up from £1.95 a box, to £3.87.
the cost to the school of each meal up from £2.30 to £2.87. the bus for one school trip, up from £870 to £1,070. paper, up from £1.95 a box to £3.87. this school won t put up the school meal price. family budgets are already squeezed. parents know it s hitting the school too. schools are having to use the budget they ve got to pay the pay rises for the teachers, and then everything else is increasing. it will have a detrimental effect, probably, next year or the year after. i think there s a lot of pressure on the school. they re doing a fantasticjob trying to raise funds by doing lots of other activities and stuff, but i think it s difficult for them. i mean, i don t know- what they are going to do in the long run, because there s not
the cost to the school of each meal up from £2.30 to £2.87. the bus for one school trip, up from £870 to £1,070. paper, up from £1.95 a box to £3.87. this school won t put up the school meal price. family budgets are already squeezed. parents know it s hitting the school too. schools are having to use the budget they ve got to pay the pay rises for the teachers, and then everything else is increasing. it will have a detrimental effect, probably, next year or the year after. i think there s a lot - of pressure on the school. they re doing a fantasticjob trying to raise funds by doing lots of other activities and stuff, but i think it s difficult for them. i mean, i don t know what they are going to do in the long run, because there s not an endless pot of money there everyone s got.
any borrower will have to pay higher bills. it s going to be math for every family borrowing money. let s do the math on a mortgage. the first quarter, typical home price, $440,300 in the u.s. last year that mortgage rate if you had decent credit and 20% down was 2.87%, that s an $1800 a month mortgage bill. last night i ran the numbers, 6.24 percent makes the same mortgage $2500, $700 extra a month on a mortgage that. is real, real money here. let s talk about credit card debt. typical credit card debt is more than $5,000. you know i hate credit card debt. this is expensive money to carry. assume you re paying $200 a month. at 16% apr you pay $1200 in interest, takes 33 months. now at 22%, a thousand bucks extra and five extra months to