Qld parents face $500k fees for 12 years of private schooling

Queensland parents will have to fork out more than half a million dollars to put two children through 12 years’ private schooling in ten years’ time. PREDICTIONS FOR YOUR REGION

Data from Futurity Investment Group predicts fees at Brisbane Grammar School will rise to $39,173 per year by 2033. Picture: AAP Image/Josh Woning

The average Queensland parents will have to fork out more than half a million dollars to put two children through 12 years’ private schooling in a major city in a decades’ time.

The average annual cost for government, catholic and independent schools across the state is tipped to explode by almost 30 per cent by 2033, stark new analysis reveals.

Based on the predicted 10-year percentage increase, tuition fees for the state’s most expensive school – Brisbane Grammar School – are estimated to rise from the current all inclusive fee of $30,320 annually for Years 7-12, to $39,173 per year by 2033.

The data was produced by Futurity Investment Group, an independent financial institution specialising in education bonds, with the help of research company McCrindle.

Futurity Investment Group spokeswoman Kate Hill said many parents would struggle to afford the 2033 costs and the state’s elite private schools would be out of reach for most families.

Ms Hill parents don’t usually think about the extra costs associated with schooling, instead focusing on just the tuition fees.

“What we have been seeing increasingly across a number of years of doing this research is that the cost of education goes up at twice the rate of inflation.

“There’s a spiralling cost of living across the board at the moment. Our message is that for those parents who want to send their child to a catholic or independent school, planning ahead and knowing what those costs will look like is critical.

“This data is particularly to help those parents looking at future spend with kids who are not starting school for five years.”

Ms Hill said second-hand books, passing down uniforms, and sharing laptops are some of the ways families with multiple children can help to ease costs.

To put the projected 10-year changes into perspective, The Courier-Mail applied the relevant predicted percentage increases to current Year 12 tuition fees at select Queensland private schools. These are projections only, using Futurity and McCrindle’s estimated percentages.

Fees at Toowoomba Grammar School are predicted to rise from $18,270 to $23,604, according to Futurity.

The Southport School on the Gold Coast would increase tuition fees from its Year 12 fee of $24,867 this year, to $32,128 by 2033. On the Sunshine Coast, the annual cost to send a child to Matthew Flinders Anglican College would jump from $17,248 to $22,284.

Toowoomba Grammar School would rise from $18,270 to $23,604, the estimated rise at Ipswich Grammar School would be from $19,548 to $25,256, while John Paul College in Logan would spike to $20,000 from the current $15,480 fee.

Meanwhile, Townsville Grammar School would go from $14,816 to $19,142, Rockhampton Girls Grammar School is estimated to jump to $14,974 from $11,590, the estimated rise at Peace Lutheran College in Cairns would be from $7650 to $9883 in 10 years’ time, and Whitsunday Anglican College in Mackay would spike to $15,556 from $12,041.

Independent Schools Queensland chief executive Chris Mountford said school governing bodies review tuition fee levels annually and take into account the circumstances of families.

Mr Mountford said it included current and future public funding levels, their current financial situation and the broader economic environment when decisions were made.

“The majority of independent schools currently charge $5000 or less in fees per year,” Mr Mountford said.

“Boards are in the unenviable position of having to ensure their independent schools remain

sustainable in the face of ongoing economic uncertainty and rising education costs, including staff wages.

“Independent schools strive to make an independent education available to as many families as

possible through the provision of scholarships and bursaries, discounts for families with more than one child, all-inclusive fee options and payment plans.”

Mr Mountford said half of Queensland’s independent education sector is made up of small schools and encouraged any families needing assistance to speak with the schools directly.

The Futurity projections were calculated using public data from the Australian Curriculum, Assessment and Reporting Authority and research into the cost of education and parent experience conducted by McCrindle last year involving 1500 participants nationwide.

It has not only projected how much tuition fees will rise, but also the expected total cost to put your child through school by taking into account extras such as school laptops, uniforms, camps, textbooks and stationery, musical instruments, and outside tuition.