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BSB 806 015
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& My money

The cost of schooling

The cost of schooling

As a new parent the thought of saving enough money for your children’s education can be positively daunting. One minute you’re holding your new bundle of joy, the next minute you’re contemplating the start of kindergarten and at least 14 years of schooling ahead.

In WA, there are a range of great educational options available to families. Deciding on the best option for your child will come down to personal views and aspirations, your location and ultimately the ability to save enough to cover your chosen schooling option.

A careful examination of the educational options available, an understanding of the numerous costs likely to be faced over 12 plus years of schooling and the development of a budget are some ways to ensure as parents you have enough money to make it through to your child’s graduation.

Public vs private

This decision will have a big impact on your personal finances. Before enrolling your child into a private school, parents need to carefully weigh up and understand the financial impact of the fees and costs involved. Likewise enrolling a child at the local public school will also have long-term financial implications that need to be budgeted for.

Work out how much money you will need

Research conducted by P&N Bank in 2016* looked at the cost of WA schooling from Kindergarten to Year 12. It revealed there are several factors beyond school fees parents need to be prepared for over the course of their child’s schooling.  


Elite private school - Perth

Public school – Perth

Public school – Regional WA

Fees and charges
















Technology (iPad and laptops)








Start saving early

The cost of education can be a major issue for Western Australian families. Younger families in particular are already facing significant financial stress related to housing and the general cost of living. Thus the cost of education needs to be a major consideration in long term planning and budgeting.

A great first step to plan how much you can set aside for your children’s education is to use P&N’s budget planner calculator

Once you have started setting aside money for schooling costs you can maximise your savings by utilising a dedicated account like P&N’s Hi Saver 

Western Australia is blessed with amazing schools in the public and private sector, and investing in a child’s education is one of the best sacrifices any parent could ever make. Taking the time to consider schooling options, understand the costs involved and in turn budgeting to save for a child’s education is clearly time well spent as a parent.

• The information provided in this document should not be used to guide any decision-making by a consumer.
• The information has been gathered in good faith to provide a broad ranging overview of the costs faced by parents in Western Australia to cover the cost of education from primary to high school.
• The figures used are averages and are based on a series of assumptions about the most common items likely to be purchased.

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