Whether you’re planning to send your children to a public school, faith-based school or a private school, here’s how much you can expect to pay for their education.

Most people have a fairly strong opinion when deciding between a public school, faith-based school or a private school for their children.

So, this article isn’t going to touch that debate with a three-foot headmaster’s cane (however the ABC did recently put out a great interactive article that can help you decide).

Instead, today I’m going to simply give you the cold, hard figures around what you can expect to pay for each option.

Not only will this help you better weigh up the pros and cons of each, but it will highlight the importance of creating a financial plan for your kids’ education today.

Spoiler: An education can cost as little as $40,000 dollars over 12-13 years, or as much as $500,000.

The figures below, from not-for-profit organisation Australian Scholarships Group, include the cost of school fees as well as an estimate for extra-curricular activities, computers, travel expenses, uniforms, school excursions and camps.

Public school

Public schools are government-run schools. In many cases across the country you may not get to choose the school your child goes to. Rather, your residential address will fall into a school’s catchment zone.

For a child born in 2018, parents can expect to pay about $66,000 for their child’s education over 12-13 years if they live in an Australian metropolitan area, or $50,600 if they live in a regional area.

That’s roughly between $4,000 and $5,500 per year, per child.

The average total cost varies from state to state as follows:

NSW: $71,614 (Sydney)  $52,369 (regional)
Victoria: $75,263 (Melbourne)  $51,899 (regional)
QLD: $58,352 (Brisbane)  $50,757 (regional)
WA: $54,766 (Perth)  $44,280 (regional)
SA: $60,722 (Adelaide)  $47,316 (regional)
Tasmania: $41,738 (Hobart)  $50,687 (regional)
ACT: $50,145
NT: Not available

Faith-based schools

A faith based school is a religious school. For example Catholic, Islamic, Anglican, Buddhist or a Hindu school.

For a child born in 2018, parents can expect to pay about $240,500 for their child’s education over 12-13 years if they live in an Australian metropolitan area, or $176,000 if they live in a regional area.

That’s roughly between $15,000 and $20,000 per year, per child.

Once again, figures vary from state to state:

NSW: $251,143 (Sydney)  $173,304 (regional)
Victoria: $223,318 (Melbourne)  $163,583 (regional)
QLD: $251,866 (Brisbane)  $198,012 (regional)
WA: $235,107 (Perth)  $142,320 (regional)
SA: $246,702 (Adelaide)  $188,745 (regional)
Tasmania: $188,742 (Hobart)  $176,035 (regional)
ACT: $234,975

Private schools

Private schools, also called independent schools, are privately owned and operated. While they have their perks, they’re also significantly more expensive.

For example, for a child born in 2018, parents can expect to pay $475,342 for their child’s education over 12-13 years if they live in an Australian metropolitan area, or $347,572 if they live in a regional area.

Per year, per child, that equates to between $29,000 and $40,000.

Here’s the total figures breakdown state-by-state:

NSW: $547,414 (Sydney)  $357,530 (regional)
Victoria: $536,683 (Melbourne)  $381,184 (regional)
QLD: $368,573 (Brisbane)  $366,298 (regional)
WA: $401,191 (Perth)  $277,694 (regional)
SA: $374,147 (Adelaide)  $251,705 (regional)
Tasmania: $431,473 (Hobart)  $359,961 (regional)
ACT: $424,844

Final word

As you can see, there’s no such thing as a free education anymore, no matter what option you choose.

For example, sending three kids to a public school still costs about $300 per week. Meanwhile sending three children to a private school costs about $2,300 a week.

That’s why it’s so important to have a financial plan for your kids’ education in place – any amount is enough to derail a weekly budget without sufficient planning.

So if you’d like help crafting a plan, get in touch, we’ll help you get your finances ready for whatever education option you’re leaning towards.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.