With the price of education continuing to skyrocket, parents are encouraged to start saving for their children’s education from birth.
ASG, an organisation supporting parents to invest for their children’s education, is raising awareness of planning for the future, releasing information about the estimated costs for pre-school, primary and secondary school.
The data*, which focuses on the estimated national cost for a child in a metropolitan city, born in 2016, found parents could expect to pay up to $468,397 to send their child to a private school.
Parents who choose to send their child to a systemic1 school could pay up to $230,381, while parents of a child at a government school downward of $66,862.
ASG says parents often fail to weigh up the total cost of education, often forgetting; school fees, uniforms, camps, computers, textbooks, and sport and musical equipment as frequently overlooked items when budgeting for their child’s education. This even includes parents looking to the public system for their child’s education.
“Whether you plan to send your children to a private, government or systemic school, planning for their education is vital,” said ASG.
“Making regular contributions towards the cost of your child’s education will give you peace of mind now, and greater opportunities to choose the best education for your children in the future.”
ASG’s education funds offer a simple and effective approach to prepare for the costs of your child’s education, with the option of either versatile or disciplined approaches to saving, peace of mind that you are proactively planning for the future, and attractive tax benefits. You can invest in your child’s education with ASG from as little as $2 a day2.
“At ASG, we believe that every child deserves a quality education regardless of wealth, status or capability.”
“ASG allows parents to make regular contributions to tax effective education funds that help to offset school fees and other related expenses.”
“Whether you’re a disciplined saver or someone who needs a bit more structure, our education funds will help you to take control of future education expenses.”
ASG said they constantly receive enquiries from many parents concerned with the costs of supporting their child’s future primary, secondary and post-secondary education.
“With the cost of education in Australia rising by more than double the rate of inflation during the past 10 years, some families will spend nearly half a million dollars3 just to put a single child through school!”.
A breakdown of the annual costs, provided by ASG, shows that fees, extracurricular activities, clothing, travel and necessities, such as books, could cost parents of preschool aged children up to $2,413, based on the average 15 hours a week spent at a government kindergarten.
For parents of children going to systemic and private schools the amount is much higher, with some expected to pay between $4000 and $7000 per year.
In addition to their 40 years’ experience in financial products and services, ASG members enjoy access to a range of tools, information and advice designed to help families navigate their children’s education journey. Created in partnership with experts in parenting and early childhood development, these resources will allow you to support your child’s development from birth through to secondary studies and beyond.
As a member owned organisation, profits are reinvested to benefit members not returned to shareholders as dividends. ASG members also receive exclusive member offers and discounts on quality educational products and family health insurance.
Take control and have choices in funding your children’s education. Find out how with ASG.
