Have a spare $27,000 a year to put toward your child’s school fees and education? No, we’re not talking about university. We’re talking about prep. All the way to grade 12.
If you’re looking at a private school, in Sydney in particular, this is how much it’s going to cost you – $27,000 per year, or, an incredible $357,931 per child over 13 years.
This is just one of the staggering sums detailing the cost of education in Australia. Futurity Investment Group did the maths and this is what education costs look like for public, private, and catholic education Prep (or Kindy) to 12.
Private education costs
Private or independent education is by far your most expensive option across every state.
- The national average sits at $300,233 in metro areas and $209,584 in regional areas.
- Sydney is considered the most expensive city in the country for private education. On average, parents will pay $357,931 per child over 13 years. This is over $27,000 a year, which is 19 per cent over the national average.
- Melbourne parents will pay $307,508 per child over the same period.
- For big cities, your cheapest city is Perth, costing parents $213,889 per child over thirteen years.
- Your cheapest option for private schooling is regional/remote Queensland where you will be spending around $196,876 over 13 years.
THE TAKEAWAY: For parents looking to send their kids through private education, you’ll looking at anywhere from $27,000 per child per year to $15,000 per child per year.
Catholic education costs
In terms of Catholic education, the national average in metro areas sits at $184,545. For regional, this number is over $20,000 cheaper at $163,578.
- Canberra was the most expensive city for Catholic education, costing parents $197,667.
- Brisbane and Perth are also up there, at $193,235 and $191,397, respectively.
- Sydney was the cheapest major city for Catholic education, where parents pay, on average, $178,478.
- However, living in regional and remote locations also means more affordable Catholic education, with Queensland’s remote and regional areas offering the most affordable choice at $154,661 over 13 years.
THE TAKEAWAY: For parents looking to send their kids through the Catholic education system you’ll looking at anywhere from $15,200 per child per year to $11,800 per child per year.
Public education costs
Public or state education tends to be a lot more affordable than private schooling.
- Melbourne is considered the most expensive city for public education costing parents $102,807 over 13 years.
- Sydney is the second most expensive city for public education, costing parents $89,500 over 13 years.
- Canberra was the most affordable city for government-funded schooling, costing families $77,002 over 13 years.
- Again, regional and remote Queensland prove to be the most affordable option for public education, costing parents $68,597 over 13 years.
THE TAKEAWAY: For parents looking to send their kids through the public system you’ll looking at anywhere from $7,900 per child per year to $5,200 per child per year.
Breakdown of costs
When it comes to what we’re paying for, a lot of it is tuition for private and Catholic schools. Public schools, however, have very low tuition school fees, coming in at just $368 per year, per child. In some state schools, these school fees are even lower, or nonexistent.
However, the costs of education come from ancillary costs – things such as uniforms, textbooks and school supplies, and school camps. Additional costs include electronic devices, outside tutoring, and musical instruments. Children who attend Catholic or private schools tend to have higher ancillary school fees than those attending a public school.
Check out the full breakdown here – it’s pretty interesting. And terrifying for our bank accounts. Better start saving today!
Speaking of saving, check out these 12 money-saving apps including Buddy, Wise List, and Honey. We’ve also found apps to help you save with specific things like entertainment (BookMe), fuel (Fuel Map Australia), and groceries (FlyBuys).
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