BLOG: EDUCATION COSTS SPIRAL
A new report by the Australian Scholarships Group (ASG) has shown that costs to educate a New Zealand child born in 2017 have risen over a ten year period (2007-2017) by 48% for private and 15% for public school.
ASG Education Programmes chief executive John Velegrinis says the independently verified data measured costs including school fees, transport, uniforms, computers and school trips. “Sadly education costs have increased at twice the rate of inflation in both New Zealand and Australia,” he says.
“It puts real strain on the family budget during the lowest age of income growth in memory.” He said digital devices had been the biggest driver to the increased costs. “Even at a basic level, kids are expected to have digital hardware and access to the internet,” he says.
And while some future costs might come down, other factors come into play to support predictions that education costs will continue to increase, irrespective of whether you send your child to a state, state integrated or private school.
“Our greatest fear is that post-secondary education will only be accessible only to the well moneyed and people who have saved since their children were babies,” he says. “Kudos to the New Zealand government student loan scheme, but how supportive they can be has a limited time frame, because education is not getting any cheaper.”
While this year’s figures look at the costs of 13 years of education, future surveys investigate pre-school costs. “We are starting to look at this area, but there is such a huge variety of costs in that space, we want to ensure we do rigorous research to get factual, comparable and meaningful figures,” he says.
John says that ASG members put away as little as $10 a week in order to prepare for their children’s educational goals and aspirations. “We advocate that you start sooner rather than later – because the earlier you start the more affordable it becomes,” he says.
For comprehensive summary sheets detailing the cost of education in New Zealand visit: www.asg.co.nz/edcosts
ASG’s online Education Costs Calculators enable families to estimate the cost of their child’s education