The research estimates that the total cost of 13 years of education in the Government sector for students starting school in 2026 will be $121,202, a 6% increase compared to last year.

The cost of an Independent education in Victoria’s capital city has increased by 12% in the past year to $435,902.

Catholic education jumped 25% in the past year to $247,999 for a child starting school in 2026.

The research, commissioned by Futurity is based on the feedback of 2,500 Australian parents of school aged children and independent ACARA data.

Across Australia 71% of parents said they were saving money on ancillary items where they could to reduce spending, this included buying second hand uniforms and making devices last longer.

Australian parents believe in the power of education and aspire for their children to have the education that can help their children live the life they dream of.

In fact, nine in ten parents (90%) believe education is essential for their children to thrive in life, however, the education of your choice can come with a big price tag.

Despite the cost pressure, ABS data shows more parents than ever are sending their children to Catholic and Independent schools, with these two sectors consistently outpacing Government school growth. Independent schools recorded the largest increase in enrolments over the five years to 2024 (18.5%) followed by Catholic schools (6.6%) and Government schools (1.0%).

In this article we explore the total cost of education over 13 years for a child starting school in 2026 to help you plan, save and to understand the various costs that are not covered by school fees.

Cost of living pressures also impacts education

Our Cost of Education Index revealed 71% parents are making sacrifices to afford the cost of education, such as buying second hand uniforms, reducing activities or making a laptop last longer.

Increasingly parents are reporting someone else is helping contribute to the cost of educating their child (57% up from 52% in 2025), with grandparents now supporting 11% of respondents.

Interestingly, 45% of parents agreed they have had fewer children because of the costs associated with raising and educating a child.

Schooling costs more than just tuition

One of the common missteps parents make when determining the cost of education in Australia is to look at school fees alone. But the research shows that it is the ‘hidden’ costs, or ancillaries, that often add up the most.

In fact, these extra items account for 90% of the total cost of a Government education, schools, 64% of the total cost of a Catholic education, and 38% of the total cost of an Independent education. This means families need to factor in the cost of uniforms, transport, camps, excursions, and electronic devices, in addition to school fees to determine the overall cost of an education.

Is education expensive in Victoria?

So, what is the average cost of education in Australia compared to Victoria?

The table below breaks down the combined averages of tuition fees and ancillary costs nationally compared to Victoria over 13 years – according to schooling sector and location.

And as you can see, it really adds up.

*These numbers are population-weighted and projected over a 13-year period and provided as a guide only. The actual costs cannot be guaranteed.

Have a plan to save for education

Quality education comes at a cost. But parents can plan today, to ensure their child has a better tomorrow. The key is to create a solid plan, and to take action.

For more than 50 years, Futurity has been helping Australian families to meet the costs of education through our expertly managed Futurity Education Bond. Our solutions are designed to help parents and grandparents just like you save and accumulate funds for schooling expenses in a tax-effective way.

Your child’s education will likely be one of the biggest investments you’ll make. It is never too early to understand and prepare for these costs – so you can create the bright future you envisage for your children.

Need help planning for the cost of education? Speak with your Financial Adviser about Futurity’s Education Bond range or contact us today.