Two Guernsey private school are being offered a gift that could save taxpayers £2.2m a year.
An anonymous philanthropist has offered to give Elizabeth College and The Ladies College money that would allow the two private schools to end their States grant funding.
The cash boost, described as an 'extraordinary gift' would put more than £2 million a year back into the States' coffers.
Taxpayer funding is currently worth more than 2% of the Education Committee's approved revenue budget.
We're told the gift would replace that funding and keep fees at both colleges affordable.
Elizabeth College is a registered charity and can accept its share of the gift, but The Ladies College will need a law change to do the same.
The money will also fund a bursary programme and Legacy Programme for each of the schools.
The Ladies' College aims to work with University College London to develop an AI Institute and also hopes to create an Innovation Hub offering research, events and workshops for the community.
Elizabeth College is exploring options to invest in excellence in sport and, through the Gate House Gallery, to develop its Artist in Residence programme, along with partnership work to support and mentor young artists.
Daniele Harford-Fox, Principal at The Ladies' College, said:
"This is a once-in-a-generation gift which would allow us to do even more for Guernsey.
"The Ladies' College has served this community since 1872. This gift would let us serve it far more widely."
Jenny Palmer, Principal at Elizabeth College, said:
"This gift would also enable us to look at how we can further develop partnerships to extend and share opportunities, for example, through sport, the performing and creative arts and to extend our Gate House Gallery artist development programme, as well as securing the future of both Colleges for generations to come."
Last year, Guernsey's States proposed scrapping funding to Elizabeth, Blanchelande and The Ladies’ College, by 2031, arguing subsidising the private education sector was not the best use of taxpayers' money.
Politicians voted instead to maintain existing grant levels unless pupil numbers fell.
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