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Cost of education

Along with saving for retirement and buying a house, education is one of life’s major events. Many parents consider the decisions they make about their children’s education as among the most important, which will forever shape their children’s lives.
Research by ASG found that most parents believe that it is important to save for education in order to support their children’s academic development and study aspirations.
However, saving for education is not easy. According to the Australian Bureau of Statistics (ABS), the costs associated with education have risen at twice the rate of inflation during the past 10 years. Just one year in a Government (Public) primary school, can cost families upwards of $3,000#.
Regardless of whether you choose Public or Private schooling, the hidden or forgotten expenses of extra-curricular activities (in some cases costing families more than $1,000 per child each year), uniforms, computers, transport and camps to name a few, quickly add up.
However, putting away a manageable amount each month early on builds your savings over time, and can help to ease the pressure on the family budget when education expenses are due. ASG’s Education Savings Funds make saving for education simple.

Get in touch today to find out how we could help you save

Estimated total cost of education by schooling type for each state*

To see the breakdown of costs by school type per year for a child born in Australia in 2017, download the ASG National Education Costs Estimate.
# Taken from ASG’s 2017 Planning for Education Idex, based on estimated schooling costs in metro Australia.
* These figures are the average estimated costs and represent the highest amount parents and families can expect to pay. ASG cannot guarantee that they will represent the actual costs of education for a particular child.

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