Difference in The Price of an Education to Widen

Depending on the system and location the difference in the cost of educating a child over 13 years is predicted to be bigger than ever, jumping in the last year.

If you’re in a regional area in Tasmania you will enjoy a the least expensive education available in the country, the total cost of sending a child to a Government school will be $72,083.

An independent education in the metro area is predicted to be vastly more expensive, Sydney tops the list where parents will fork out $377,993 for each kid over the duration of their school life, $20,000 more to educate a child starting school in 2024 as costs rise from $357,931.

The story is the same for every independent system in the country, it is only getting more expensive. To educate a kid through the independent system in Melbourne will cost $324,559 in 2024 up from $307,508, the increase is less hefty in Canberra rising to $290,910 from $275,486, Brisbane parents will face paying out $277,015 as opposed to $262,531 in 2023, Perth costs of independent school will rise to $225,728 from $213,889 making it the cheapest independent system in the country.

Canberra is Australia’s most affordable city for a Government education, the total cost of a Government education in Canberra will be $81,564 over 13 years.

The total cost of a Government education in the Australian Capital Territory is 12% below the national average ($92,710) and cheaper than Melbourne ($108,879) and Sydney ($94,819).

In some relief for parents in the emerald city, Sydney is Australia’s most affordable city for a Catholic education. The total cost of a Catholic education in Sydney is forecast to be $188,759 over 13 years for a child starting school in 2024, an increase of $10,281 compared to last year.

The total cost of a Catholic education in Sydney is 3% below the national average ($195,074), and considerably cheaper than Canberra ($208,871) and Brisbane ($204,197), Australia’s most expensive cities for a Catholic education.

Sydney parents are forecast to spend almost double on outside tuition ($4,498) than school fees ($2,522) this year, with electronic devices ($974), musical instruments ($834) and school uniforms ($418) all adding to the total cost of a Catholic education.

The research found school fees will make up 21% of the total cost of a Catholic education for a child starting school in Sydney this year, with 79% spent on ancillary costs.

The total cost of a Government education in non-metro Tasmania is 10% below the national average ($80,303) and considerably cheaper than regional and remote New South Wales ($87,762) and non-metro South Australia ($86,677), Australia’s most expensive regions for a non- metro Government education.

The low cost of government education in regional Tasmania is qualified by the additional costs parents face, they are forecast to spend 24 times more on outside tuition ($1,199) than school fees ($48) this year, with electronic devices ($833), transport ($451) and musical instruments ($408) all adding to the total cost of a Government education in non-metro Tasmania.

School fees will make up just 1% of the total cost of a Government education for a child starting school in regional and remote Tasmania in 2024, with the remainder spent on ancillary costs.

Catholic schools located in non-metro Tasmania are Australia’s most affordable. The total cost of a Catholic education in regional and remote Tasmania is forecast to be $161,042 over 13-years for a child starting school in 2024, an increase of $9,001 compared to last year.

The total cost of a Catholic education in non-metro Tasmania is 7% below the national average ($172,981) and substantially more affordable than regional and remote Northern Territory ($184,725) and non-metro Western Australia ($175,413), Australia’s most expensive regions for a non-metro Catholic education.

Outside tuition ($2,623) is forecast to be the most expensive component of a Catholic education for a child starting school in regional and remote Tasmania this year, followed by school fees ($1,849), electronic devices ($1,124) and musical instruments ($703).

School fees will make up 19% of the total cost of a Catholic education for a child starting school in non-metro Tasmania in 2024, with 81% spent on ancillary costs.

Queensland is Australia’s most affordable region for a non-metro Independent education. It’s forecast the total cost of an Independent education in regional and remote Queensland will be $208,164 over 13-years for a child starting school in 2024, a jump of $11,288 compared to last year.

The total cost if an Independent education in non-metro Queensland is 6% below the national average ($221,501) and considerably cheaper than regional and remote South Australia ($252,068), the nation’s most expensive region for an Independent education.

School fees ($3,545) are forecast to be the most expensive component of an Independent education for a child starting school this year in non-metro Queensland, well ahead of outside tuition ($1,873), electronic devices ($1,143) and sports equipment ($902).

Results are from The Futurity Investment Group Investment in Education Index.