Futurity Investment Group executive Kate Hill said the total cost of education had risen at nearly double the rate of inflation over the past decade.
“School fees, outside tuition, school camps, transport, uniforms, electronic devices and sports equipment are demanding a far greater share of the family budget than in the past,” she said.
“More than ever, the costs associated with education are placing more of a burden on Australian families, who are already stretched by the spiraling cost of living and rising interest rates.
“With less discretionary money to spend, it’s going to be a challenge for some families to pay for education.
“Parents who have planned and saved for education will be in a better position in the long run and will be able to explore and afford choice when it comes to their children’s education.”
Private school fees in WA have risen by a record average of 4 to 5 per cent, the most expensive climbing above $30,000.
None of the top fee schools are Catholic schools, with Presbyterian Ladies’ College, Christ Church Grammar, Methodist Ladies’ College and Scotch College the four most expensive.
The 2023 National School Fees Report revealed WA also had the highest increase in boarding school fees in the country, jumping 5.29 per cent from 2022.
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