Can you afford to educate your children at a private school?

The real cost of education

Whether you decide to send your children down a private or public education path, the cost of teaching them the alphabet through to algebra can be expensive.

Let’s talk $

Australian parents spend, on average, a total of $50,000 on their child’s education and childcare according to a report by The National Centre for Social and Economic Modelling.

Even public education isn’t free. If you have a child at a government school, you’ll be familiar with voluntary contributions, the cost of uniforms, excursions, home computers and internet costs, not to mention forking out for musical instruments and sport uniforms if they happen to join the school band or soccer club!

Australian Scholarships Group, a not-for-profit provider of education savings plans, estimates the total cost of putting a child through a government primary and secondary school to be around $110,000. This includes tuition fees and levies (including fundraising contributions), uniforms, school bags, music and sport materials, computer costs as well as incidentals like private tuition, camps and extra curricular activities. If you have three or more kids, you’re looking at the cost of a small house just to educate them!

If you choose a private education, ASG estimates the figure to be anywhere between $441,000 and $424,000 per child.

Why so much?

Education costs are on the rise. The cost of education has almost doubled the rate of inflation over the last 20 years. According to 2009 figures from the Australian Bureau of Statistics, education costs rose at 5.6 per cent compared to the overall inflation rate of 1.3 per cent.

Why? There are a number of reasons for the rise. Teacher salaries have increased, but other factors include technology (hands up who has a home computer?), infrastructure, maintenance and smaller class sizes.

Talk to me to set up your Childrens education!!!!!!!!!!!!!!!!!!

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