Cost of private school education as much as a house
THE cost of putting a child through a full pre-tertiary education in the Maranoa area could cost more than a house based on 2016 estimates, if you choose a private education – at nearly $327,000.
And while it’s much less at a state or systemic (religious) school, the total cost for a year’s pre-school, coupled with six primary and six secondary years of education, will still cost you more than $50,000 or $193,000 respectively.
The figures, released by the ASG Planning for Education Index, show regional Queensland is the most expensive area in the nation to educate a child in the systemic school system, at $193,262 or 12% above the national average of $172,331.
A state education, at $50,478, will cost $442 less than its national average at $50,920, but is third only to regional Victoria ($53,245) and regional New South Wales ($52,598) as Australia’s most expensive regions.
A private school education in regional Queensland, at $326,762, is $2219 less than the estimated national average ($328, 981) but more expensive compared to regional Western Australia (308,323) or regional South Australia ($287,128).
The index forecasted pre-school or kindergarten costs in regional Queensland at between $2774 and $8330 depending on the school type. Overall the study is based on 12,500 responses, measuring variables including school fees, transport, uniforms, computers, school excursions and sporting trips.
The cost of education continued to rise at more than twice the rate of inflation over the past decade, according to ASG CEO John Velegrinis.
“Regardless of whether you send your children to a government, systemic or private school, the costs of that education will clearly increase – which is why we advocate that parents start planning for education as early as possible, even from the moment their child is born,” he said.
“We’re very fortunate in Australia to have a variety of excellent government, systemic and private schools.
“If you have two or three children, the cost of a private education in regional Queensland could be higher than the purchase price of the family home.
“We advocate parents use a disciplined approach by putting a little bit away each week so they financially can afford their children’s educational goals and aspirations.”
Independent statistician and Managing Director of foreseechange Charlie Nelson said the current economic climate is having an effect on education.
“A sudden increase in education costs would certainly be painful in the current low income growth environment,” Mr Nelson said.
“With school fees increasing faster than incomes, it has never been more important for parents to financially plan for their child’s future as early as possible.”