In a revealing study by ASG Planning for Education Index, the largest provider of education scholarship plans in Australia, the country’s shocking expenditure on education for children was surveyed. The consolidated data was analyzed by Monash University. The findings translated into shocking figures showed the increasing burden on families to afford a decent education for their children is not going away anytime soon.
The survey was conducted region wise and Government, Catholic and Independent Education fee over 13 years was calculated. Government education in Metropolitan Australia comes with an average median cost of $68, 727. Catholic Education on the other hand doubles up at $127,027 in the region. It is, Independent education, however that takes the cake, with an astounding $298,689.
Brisbane took the top spot nationally for the most expensive city for a government Education, 10 % higher than the national average. While, Adelaide was found to be the most expensive city for a Catholic education, with the median total cost exceeding $131,000. Sydney was by far declared extravagant with a whopping Independent education expenditure of $461,999 over a 13-year period, this constitutes more than 50 % of the national average.
The fee structure announces, school fees to be the least threatening component of the expenditure, with other costs like external tuitions and devices overshadowing it.
Metropolitan Australia, has been playing up its education cost each year, irrespective of the kind of education, this puts a serious dent in the finances of Australians who are struggling with the mercurial landscape of the present economy.
Regional education, though a lot less when compared to metropolitan cities, is still stressful for an average Australian. According to ASG Officials, the education cost has increased substantially, “risen at more than double the rate of inflation over the past decade”.