Bank of Grandparent Tapped to Help with Education Costs

Some 45% of parents reported they are having fewer children because of the cost of raising a child and the majority of parents (57%) rely of the support of others to pay for their child’s education, including grandparents.

That is the reality of Australia where cost of living, especially housing, is leaving parents stretched. There are cheaper options for schooling but none of them exactly cheap.

The total cost of a Government education in Melbourne will be $121,202 over 13 years for a child starting school in 2026, a 6% increase compared to last year.

The total cost of a Government education in Melbourne is 7% above the national average ($113,594) and considerably more expensive than Perth ($102,600), and Sydney ($106,567), Australia’s most affordable cities for a Government education.

School fees / voluntary contributions ($694) will make up just 13% of the total cost of a Government education for a child starting school in Melbourne this year, with the remainder spent on ancillary expenses including outside tuition and coaching ($1,031), transport ($393), school camps ($372), and uniforms ($265).

Brisbane is Australia’s most expensive city for a Catholic education. The total cost of a Catholic education in Brisbane will be $273,494 over 13-years for a child starting school in 2026, a 35% increase compared to last year.

This is 11% above the national average ($247,174) and considerably more expensive than Canberra ($211,493), and Sydney ($223,919), Australia’s most affordable cities for a Catholic education.

School fees ($3,451) will make up 35% of the total cost of a Catholic education for a child starting school in Brisbane this year, with the remainder spent on ancillary expenses including outside tuition and coaching ($1,702), electives ($1,280), school camps ($681), and musical instruments ($675).

Melbourne is Australia’s most expensive city for an Independent education, up 12% in the past year to $435,902.

The total cost of an Independent education in Melbourne over 13-years for a child starting school this year is 18% above the national average ($369,594), and considerably more expensive than Adelaide ($304,997), and Canberra ($322,939), Australia’s most affordable cities for an Independent education.

School fees ($12,265) will make up 65% of the total cost of an Independent education for a child starting school in Melbourne in 2026, with the remainder spent on ancillary expenses including school camps ($1,158), outside tuition and coaching ($1,139), transport ($890), and musical instruments ($838).

The Cost of Education Index commissioned by Futurity also calculated the total cost of education in regional and remote areas for a child starting school this year and found Queensland is Australia’s most expensive region for a non-metro Government and Catholic education.

The research is based on the feedback of 2,500 parents with school-aged children, and independent ACARA data. Additional ancillary cost options including before and after school care, school clubs, and fundraising donations were included in this year’s Index to provide an even more accurate total cost of education projection.

It is forecast the total cost of a Government education in regional and remote Queensland will be $108,647 over 13-years for a child starting school in 2026, a 20% increase compared to last year.

The total cost of a Government education in non-metro Queensland is 8% above the national average ($100,395).

Non-metro Queensland parents are forecast to spend almost six times more on outside tuition and coaching ($1,128) than school fees / voluntary contributions ($177) this year, with transport ($714), musical instruments ($481), school uniforms ($256), and sports equipment ($179) all adding to the total cost.

Queensland is Australia’s most expensive region for a non-metro Catholic education. The total cost of a Catholic education in regional and remote Queensland will be $244,714 over 13-years for a child starting school this year, a 55% increase compared to 2025.

The Cost of Education Index also revealed regional and remote Western Australia is the nation’s most expensive region for a non-metro Independent education.

It is forecast the total cost of an Independent education in regional and remote Western Australia will be $275,639 over 13-years for a child starting school in 2026, a 1% decrease compared to last year.

Futurity Investment Group’s Sarah McAdie said the costs associated with education are placing a significant burden on many Australian families.

“Futurity’s Cost of Education Index revealed 71% of parents have reduced their ancillary spending in the past year by purchasing second-hand uniforms or sports kits and extending the life of laptops and other technology.

“Parents who have planned and saved for education will be in a better position in the long run and will have the opportunity to explore and afford choice when it comes to their child’s education.”