More than half of families with children at private schools, or who are considering enrolling them, say they are under significant cost pressure, according to new research by the sector’s peak body, which finds most are saving for at least three years to afford the fees.
The data, released by Independent Schools Australia on Monday, is from a national sample of 629 families of children at independent schools, and 879 families who are weighing up this option, surveyed between March and April this year.
Sandra Masel pays for her grandson’s fees at a private school in Melbourne’s inner east. Joe Armao It found 53 per cent of families were under significant financial pressure, and 57 per cent saved for three or more years for the fees, while 10 per cent saved for more than a decade.
Three-quarters of participants said they are adjusting household budgets to afford it, including almost half by reducing holiday spending and cutting non-essentials. A smaller portion of 28 per cent were also cutting essentials, and 18 per cent of respondents were reducing their housing costs.
“These are real trade-offs that affect how families live, save and plan. The evidence shows how strongly families value their chosen school. It also shows
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