Schooling is expensive - whether you opt for a public, private, or religious-based education institution - and new data proves it.
New research from Futurity Investment Group has calculated the average cost of putting a child through public school from Kindergarten to Year 12 in a major city.
The cost is more than $92,000 for a child starting their education at a government school in 2024. Yes. You read that right. $92,000 for public schooling.
As for regional and remote areas, the figure stands at $80,303 for 2024 too.
This data not only takes into account standard tuition fees, but also a host of other major school expenses - approximations of school camps, transport, uniforms, electronic devices, sports equipment and more.
Watch: horoscopes each home schooling their kids. Post continues below.
Now of course, these calculations take into account a full 13 years of education. But even divided per year, it leaves parents with thousands to pay for their child's government school education experience.
Compared to the metro $92,000 figure calculated in 2024, this is up by a decent proportion from 2023, which was estimated at $87,528, also for major cities. The experts say this number is likely to keep steadily rising, despite wage growth remaining quite stagnate across the country.
Reflecting on the report results, Futurity Investment Group CEO, Sam Sondhi said the costs associated with education are placing a huge burden on many Aussie families.
"Households are already stretched by the spiralling cost of living and interest rate pressures. With less discretionary money to spend, it's going to be a challenge for many families to pay for the total cost of education, which has jumped 6 per cent in the past year," he notes.
The struggle is real for all in this economy - but it's fair to say a lot of parents have it particularly tough right now.
Exactly how much it costs to put kids through school in 2024.
The $92,000 figure is the national average.
But across the different cities and regional areas in various states and territories, it changes. And it varies even more depending on whether you have opted for public, private or a Catholic school education for your child(ren).
Let's break it down for you.
Total estimated cost of education for a child starting a public school education in 2024.
Sydney - $94,819.
Regional and remote New South Wales average - $87,762.
Brisbane - $85,177.
Regional and remote Queensland average - $72,670.
Adelaide - $88,186.
Regional and remote South Australia average - $86,677.
Melbourne - $108, 879 (that's a whopping number!).
Regional and remote Victoria average - $79,678.
Perth - $90,785.
Regional and remote Western Australia average - $74,979
Canberra - $81,564.
Northern Territory - $79,737.
Tasmania - $72,083.
Total estimated cost of education for a child starting a private school education in 2024.
Sydney - $377,993.
Regional and remote New South Wales average - $231,118.
Brisbane - $277,015.
Regional and remote Queensland average - $208,164.
Adelaide - $288,586.
Regional and remote South Australia average - $252,068.
Melbourne - $324,559.
Regional and remote Victoria average - $219,926.
Perth - $225,728.
Regional and remote Western Australia average - $209,847.
Canberra - $290,910.
Northern Territory - $238,657.
Tasmania - $223,415.
Total estimated cost of education for a child starting a Catholic school education in 2024.
Sydney - $188,759.
Regional and remote New South Wales average - $167,695.
Brisbane - $204,197.
Regional and remote Queensland average - $163,552.
Adelaide - $196,990.
Regional and remote South Australia average - $166,086.
Melbourne - $194,826.
Regional and remote Victoria average - $174,784.
Perth - $202,286.
Regional and remote Western Australia average - $175,413.
Canberra - $208,871.
Northern Territory - $184,725
Tasmania - $161,042.
Yes, private and Catholic schools do cost more, and in most cases, substantially more. But it's fair to say that a public school education certainly isn't cheap either.
In Australia, around 30 per cent of primary and 40 per cent of secondary school children attend a private or independent, school.
Research shows parents believe private schools will provide a better education for their children, and better set them up for success in life. But the evidence on whether this perception is correct is not conclusive. In terms of academic advantage, research and other studies have found there is little evidence to show independent schools offer any. It is likely children will do equally well in any school sector.
As for whether or not an independent education is worth the added price tag... we'll leave that up to individual parents to decide for themselves.
Feature Image: Getty.
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