A helping hand provides a level playing field
In Australia we all have the option of free, tax-funded (a combination of local, state and federal government funding) public schools or privately funded private schools. According to The National Centre for Social and Economic Modelling, Australian parents spend, on average, $50,000 – $65,000 on their child’s education and childcare.
Parents in metropolitan Sydney can expect to pay around $4,455 per year for secondary schooling – in a government school. You’d need to sit down to hear the prices for Catholic and independent schools ($12,599 – $22,450). Some independent schools are charging as much as $30,000 per year just for tuition.
And, it’s on the rise – the cost of education has almost doubled the rate of inflation in Australia over the last 20 years. From 2009 figures for the Australian Bureau of Statistics, education costs have risen at 5.6% compared to the overall inflation rate of 1.3%. Why? The increase in teacher salaries, technology, infrastructure costs, maintenance and smaller class sizes.
Even a public education isn’t free – add up the voluntary contributions, excursions, uniforms, books, ‘bring your own’ devices, home computers and internet costs. And then there’s sports uniforms/transport/equipment and/or musical instruments. It seems to be a never ending ‘hand in your pocket’ scenario. This issue was really brought to our attention when the team here at the Oak Financial Group, heard of Calvin Kidd.
Calvin, already disadvantaged, was about to start high school without a laptop, meaning he would have struggled more than his classmates to stay on top of his studies.
All the family’s resources were already pooled to secure school uniforms and textbooks – there was no more to pay for a desperately needed laptop. Luckily, Joel Flanagan and all of our team understands the importance of education and the need for a level playing field so kids can be allowed to discover their full potential. The Oak Financial Group was proud to recently present Calvin with a brand new laptop to begin his high school journey and take the pressure of the family.
All the best Calvin, we can’t wait to see what you achieve!
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