Can you really put a price on your child’s education? Well, actually yes…. and depending on where you live and what school your kids attend, that price can be more than some people’s yearly salary. There are many reasons behind a parent’s choice of where to send their child to school. No doubt every single parent out there, whether they are a low-income single mum or a married pair of high-income earners, wants the best for their kids. But is paying exorbitant private school fees really an investment in the quality of the child’s future?
Let’s look at what the average cost of private school education will set you back for one child in Australia. In Brisbane for example the most expensive fees I could find were for Brisbane Grammar School. It will set you back 28K per year from Grade 8. Sydney is even worse with the most expensive school being SCEGGS Darlinghurst ranging in price from 38K in early secondary up to 41K for grade 12. Easily in excess of 200K for a 6-year high school education.
It really boggles the mind to think that a) people could have this much disposable income and b) a child’s high school education is what they would choose to spend it on. Maybe rich people think differently to us normal folk but in a country like Australia, does anyone really care where you went to school? Safe to say, they probably don’t.
| City | School | Approx price | Total cost over 6 years |
| Brisbane | Brisbane Grammar School | 28K | $168K |
| Sydney | SCEGGS Darlinghurst | 38K-41K | $200K |
| Melbourne | Geelong Grammar School | 35K-42K | $228K |
| Adelaide | Walford Anglican School for Girls | 25K-27K | $156K |
| Perth | Scotch College | 28K | $168K |
In regional parts of Australia, the private school cost is generally a lot lower. In 2021 my regional Catholic school would have cost $3500 in early secondary and up to $4500 per year in grade 11/12. Nearly ten times lower compared to the top schools in the major cities.
Apart from the obvious income requirements required in order to be able to afford these fees, what is the reasoning behind it? Why would a family decide to invest this much money into a private school education?
Private schools with this kind of financial backing are obviously going to be better funded and resourced. Looking on some of the top school’s websites, I also noted the wide range of sporting options available. Involvement in extracurricular activities seems to be a big selling point for parents as well. But if you are rich enough to afford these kinds of school fees, then it’s safe to say that you probably live in an area with good quality public schools.
It might be that families believe that expensive private schools produce better results. At surface level, when just looking at the data, the answer primarily is yes. The results are higher at private schools. However, there are so many other variables that need to be taken into consideration. According to Save our Schools’ 15-year study, private schools do not produce better results when doing fair comparisons of school performance to adjust for various other factors. The main factor here is socio-economic status. Children from higher socio-economic families will on average have higher results in school.
Other reasons might include a perceived calibre of students attending this type of elusive school. Private schools do have a much easier time screening out children with serious behavioural issues. Parents might think that because of this their child won’t get into any trouble or fall in with the wrong crowd. I tend to think if a child wants to find trouble, they will find it anywhere.
The other main drawcard seems to be networking opportunities and status. I like to call this ‘Rich daddy syndrome‘. This syndrome commonly affects those whose daddy earns big bucks in some sort of high rolling job (ie barrister, doctor, dentist, etc). Symptoms can include being a spoilt brat well into adulthood and calling daddy for a bailout whenever they get in trouble. But in the real world, these types of networking opportunities can only get you so far. At the end of the day, a natural propensity for academia is not something that can be bought. Some kids are natural-born high achievers and some kids have other skill sets outside of the classroom. Anyone can work hard to improve on areas they lack in, but at the end of the day, you can buy your way to the top of the class.
I also can’t help but think about the way the reputation of these elite schools has been so badly damaged over the past few years. From schoolboys singing sexist chants on public transport to coward punch attacks, sexual harassment of teachers and god knows what else. The toxic culture of entitlement in these schools seems pervasive and even if I had the money, it is not really something I would want my child immersed in.
Looking at the sheer amount of money that a top private school costs, I can’t help but think what would be more beneficial to the child’s future. Going to an elite expensive school or if the parents had invested that $140K for their child to access on their 25th birthday. Imagine the compounding effect over the span of 10 years had these parents invested the cost of the school fees into shares. Their child would be set up for life! I know what I would rather do if I had a rich daddy and it’s certainly not being able to do rowing as a sport at Brisbane Grammar. I guess these sorts of families are rich enough that they are already investing for their kids, alongside the expensive education? However, if you are a normal hardworking Aussie battler who is not a high-income earner, considering private school maybe think twice. It is one thing for a married couple earning 300K per year to fund their kid’s private school education and it is a completely different thing if you are earning the average Aussie wage of between 60-80K.
Overall, there will always be a demand for elite private school education for those that can afford it. Any decision that parents are making relating to their children’s education is most likely being made with the best intentions. However, like most things in this world, it is all about perception. The perception is that the expensive school’s fees mean that of course, the overarching quality of education will be better. The way most people think that a $50 shirt is going to be better quality than a $5 one, not realising that both were made in the same factory using the same material.
Behavioural economist Sean Laver, who specialises in education choices, compares private school to a luxury consumption decision. “It’s like buying a top-end BMW over a good cheap Toyota…both will get you there.”
