The $1 million cost of a private education

TWO-CHILD families could be paying more than $1 million to educate their children in Sydney’s private schools, new figures have revealed.

Construction site at private school Trinity Grammar. Private school Trinity Grammar has been likened to a playground bully after it started work on a giant new aquatic centre and grandstand without consulting neighbours or the local council. 23rd March 2014. Picture by DAMIAN SHAW

TWO-CHILD families could be paying more than $1 million to educate their children in Sydney’s private schools.

Parents will spend $541,275 to put a child born this year through an independent school in Sydney — the most expensive city in Australia for education.

Sydney is also the nation’s most costly city for a public school education — at $71,406 per child — well above the national average for metropolitan areas of $64,416.

Figures collated by the Australian Scholarships Group (ASG) show Sydney runs second to Brisbane for the cost of a Catholic systemic education, at $234,887, with both above the national average of $228,120.

ASG chief executive John Velegrinis said parents should start planning for education from the time their child was born, regardless of the school they choose.

“Education is one of life’s major investments — in some instances it is an even bigger investment than the family home,” Mr Velegrinis said.

“By putting a little bit away parents are more likely to achieve the goals they have for their children.”

NSW is also one of the most expensive states to privately educate a child in a regional area ($343,385), second only to Victoria ($344,355).

For regional areas a public education is most expensive in NSW ($54,421) making it the most costly state to educate a child in the public system regardless of where parents live.

Mr Velegrinis said school fees were only one component of total education costs.

“There is myriad of other costs including transport, uniforms, school books and excursions which can create financial headaches if they are not planned for,” he said.

Technology is also expensive, with high school students and thousands of primary age children now needing their own laptop or tablet at school.

The Schoolkids Bonus of $422 a year for families with a child in primary school and $842 for a secondary school child will be income tested this year and phased out altogether from 2016.