Millions of Australian families are switching to public schools to save money due to the cost of living crisis, according to new research.
According to Finder’s Parenting Report 2023, which surveyed 1,032 parents with children under the age of 12 in Australia, 17% were considering moving their children from private to public schools to save money .
Another 10% of families had already transferred to public schools as the cost of living skyrocketed. Families in New South Wales (14%) were more likely to have already made the switch compared to VIC (8%) and her Qld (8%).
Sending a child to private primary school costs an average of $7,967 per year in Victoria, compared to just $303 in public schools.
Finder Money expert Sarah Meginson said private school costs are getting out of hand for some.
“Private school education is a ‘luxury’ and many families have to prioritize other costs such as housing, food and gas. With so many bills going up, private schooling is on the cutting board,” Meginson said.
This is set to leave a $11.4 billion hole in parents’ pockets for 2023 back-to-school costs (including tuition, supplies and other costs), according to Finder’s analysis. later.
Tuition this year averaged $2,325 per elementary school student and $4,212 per middle school student.
Finder’s Parenting Report 2023 found that almost one in four (22%) are sending their children to private school, despite the rising cost of living.
The largest outflow was expected in New South Wales, where one in five parents (20%) admitted they were considering moving their children from private to public schools. This is in addition to the 14% of her who have already moved to cheaper pastures.
This compares with 19% of parents in VIC and 16% in Qld who are considering transferring their child from private to public school.
Follow Yahoo Finance Facebook, LinkedIn, Instagram When twitterand subscribe to our free subscription daily report.
