Parents sacrificing, taking on credit to educate kids

14 Jan Parents sacrificing, taking on credit to educate kids

THE COST OF EDUCATION IN AUSTRALIA ACROSS 13 YEARS FOR A CHILD STARTING SCHOOL IN 2026

* National city average: $113,594 (government), $247,174 (catholic), $369,594 (independent)

* National regional and remote average: $100,395 (government), $223,874 (catholic), $230,144 (independent)

MAJOR CITY SCHOOL COSTS

* Melbourne: $121,202 (government), $247,999 (catholic), $435,902 (independent)

* Sydney: $106,567 (government), $223,919 (catholic), $401,512 (independent)

* Brisbane: $120,486 (government), $273,494 (catholic), $423,378 (independent)

* Adelaide: $111,630 (government), $249,830 (catholic), $304,997 (independent)

* Perth: $102,600 (government), $253,324 (catholic), $331,525 (independent)

* Canberra: $111,131 (government), $211,493 (catholic), $322,939 (independent)

REGIONAL AND REMOTE SCHOOL COSTS

* NSW: $94,849 (government), $209,111 (catholic), $233,853 (independent)

* Victoria: $103,629 (government), $216,975 (catholic), $245,793 (independent)

* Queensland: $108,647 (government), $244,714 (catholic), $239,085 (independent)

* South Australia: $95,027 (government), $233,687 (catholic), $242,163 (independent)

* Western Australia: $92,287 (government), $230,319 (catholic), $275,639 (independent)

* Tasmania: $73,273 (government), $196,121 (catholic), $220,326 (independent)

* Northern Territory: $66,672 (government), $130,575 (catholic), $162,820 (independent)

HOW FAMILIES ARE REACTING

* 71 per cent of parents say they are reducing ancillary school spending over the past year by looking for second-hand items and extending the life of devices

* 45 per cent reported they are having fewer children because the cost of raising a child

* 57 per cent of parents rely on the support of others, including grandparents, to pay for their children’s education

* 33 per cent were using credit cards to pay for their child’s education

* For 52 per cent of the parents who were unable to access their preferred school, it was because cost was the barrier

Source: Cost of Education Index, Futurity Investment Group

William Ton
(Australian Associated Press)