ACCORDING to research presented by the ASG Planning for Education Index, the forecast cost of a private education in Brisbane for a child born in 2017 is $372,000[1], and for parents considering a systemic2 education for their children, the Queensland capital is forecast to be one of Australia’s most expensive cities to educate a child with Brisbane costing ($243,964) $4292 above the national metropolitan average ($239,672) and third only to Sydney ($250,862) and Adelaide ($246,786).

ASG CEO John Velegrinis says Australians are fortunate to have excellent government, systemic and private schools to choose from, but costs can spiral out of control.

“Our research predicts the cost of education will increase, irrespective of whether you send your child to a government, systemic or private school.

“If you have three children, the cost of educating them in Brisbane’s private education

system could top $1.1 million. That’s significantly more than the purchase price of the

average family home.

We advocate parents use a disciplined approach by putting a little bit away each week so they financially can afford to meet their children’s educational goals and aspirations.”

How can parents start saving for the cost of education?

There are many options available when it comes to saving for education. Selecting the right one can make a big difference in helping parents reach their goals, without plunging further into debt.

Taking a proactive approach to saving for education, may lead you to considering an education savings plan.

Education savings plans offer a purpose-built fund dedicated to saving for education, allowing regular or ad-hoc contributions, and have been granted specific beneficial tax treatment under Australian taxation law.

As Australia’s largest provider of education savings plans, ASG is recognised as the specialists in education funds.  ASG’s versatile funds are suitable for everyone from the disciplined saver to those requiring a more structured approach to planning ahead.

ASG education funds can be used to save towards a variety of education goals, such as basic education costs, private schooling and post-secondary education.

With more than 40 years’ experience, ASG has supported over 540,000 children and returned more than $2.8 billion payments to members and their families.

To discover more about the cost of education in Queensland, and ASG education funds visit saving.asg.com.au or contact ASG on 131 ASG (131 274).  To book an appointment directly with an ASG Education Planning Consultant call Chris Chelliah directly on 0439 035 305.

 ASG conducts the ASG Planning for Education Index annually, asking parents to estimate education costs, which cover preschool, primary and secondary schools in Australia. Cost estimates are based on 12,500 responses collected by ASG.

 Please read the Product Disclosure Statement (PDS) to consider which education fund product is right for you – available at asg.com.au/pds or call 131 ASG (131 274).


[1] These figures are the average estimated costs and represent the highest amount parents and families could expect to pay

2 A systemic education includes religious schools e.g. Hindu, Catholic, Anglican, Uniting Church, Buddhist or Islamic

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2 COMMENTS

  1. Hi there Mugunth, the ASG Cost of Education Index looks at the total cost (over 12 years) for children born in 2017, and takes into consideration school fees, as well as other costs such as uniforms, books, stationery, excursions, extra curricular activity, technology and travel. The index is based on a survey of over 5,500 respondents, which ASG conducts every couple of years. The figures are the average estimated costs and represent the highest amount parents and families could
    expect to pay. ASG cannot guarantee that they will represent the actual costs of education for a particular child. I have attached link a PDF document which contains more information for your reference – https://www.asg.com.au/doc/default-source/Media-Releases/planning-for-education-index-2017/asg_edcosts_childborn_2017_qld_metro.pdf?sfvrsn=2

    Kind Regards
    ASG

  2. Just curious, this article mentions it costs $60135 to send a child to public school.

    is this annual cost ? Whats the break up?
    I feel its wrongly represented. I am also sending my child to public school. I am not spending $60k for his education.

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