Nationally, parents will pay on average $130,541 for a Government education, $292,353 for a Catholic education and $449,323 for an Independent education.

These estimates include school fees or voluntary contributions as well as ancillary costs such as tutoring, transport, camps, musical instruments and other education-related expenses.

Welcoming a new baby brings plenty of immediate priorities, sleep, feeding, childcare, family routines and the everyday costs that come with a growing household.

School may feel like a distant milestone. But for children born in 2026, the first day of school is likely to arrive in 2031.

Research commissioned by Futurity shows the total cost of education in Australia is forecast to increase by as much as 22% over the next five years, depending on the school sector. That is an increase of almost $80,000 for 13 years of Independent schooling.

Saving in advance can help you prepare for these costs and ensure you have choices available.

How much could education cost for a child born in 2026?

Futurity’s research estimates that a child born in 2026 and starting school in 2031 could face the following total education costs over 13 years of schooling:

Use Futurity’s Cost of Education Calculator to estimate what your child’s education could cost based on their start year, location and preferred school sector.

It is not just school fees parents need to plan for

When families think about the cost of education, school fees are often the first expense that comes to mind. But Futurity’s research shows the total cost of education encompasses a lot more than just the fees.

For a child starting school in 2031, school fees are forecast to make up 52% of the total cost of an Independent education, 36% of the total cost of a Catholic education and just 8% of the total cost of a Government education.

It is the ancillary costs families face that can really add up. These costs may include uniforms, sports equipment, textbooks and stationery, transport, musical instruments, electives, school camps and outside tuition.

Why early planning matters

Futurity’s broader 2026 Cost of Education research shows many families with children at school are already making trade-offs to manage costs. More than two-thirds of parents (69%), reported making decisions to manage their household budget to meet education expenses including sacrificing purchases, holidays, having less children or working more than they wanted to.

Parents who planned ahead reported higher satisfaction with their choice of school. Futurity’s research found that 77% of parents who planned ahead would choose the same school again, compared with 62% of those who did not plan. The research also found 79% of those who planned ahead believe they are getting value for money, compared with 58% of those who did not plan.

For families with a baby born in 2026, the years before school begins may provide an opportunity to gradually build savings towards these inevitable costs, rather than waiting until they arrive all at once.

The projections are provided as a guide only. Actual education costs will vary based on a family’s location, school sector, school choice, child’s needs and the expenses they choose or need to incur.

How can parents prepare for future education costs?

There are multiple strategies families can use to fund education, and each family’s circumstances are different.

Futurity’s Education Bond is designed to help parents and grandparents plan and save for education expenses using a tax effective structure.

Education Bonds are tax paid products meaning investment earnings do not need to be declared in your annual tax return. Education claims attract an Education Claim Benefit, this is an additional amount included which is equal to $30 for every $70 withdrawn from earnings.

Investors can access their funds at end time either for Education Benefit Claims or withdrawals for other purposes.

For a child born in 2026, school may still feel years away. But the latest research suggests the cost of education is already worth factoring into family financial planning.

Speak to your Financial Adviser about your education savings strategy.

Source of data

This article is based on Futurity Investment Group’s 2026 Cost of Education research, commissioned by Futurity and conducted by Resolve Strategic. The research is informed by feedback from more than 2,500 parents with school-aged children and independent ACARA data. Fieldwork was conducted from 5–15 October 2025.

About the research

Futurity commissioned Resolve Strategic to conduct research into the Cost of Education. The research was collected online using quality research-only panels, with a sample size of n=2,502 and minimum quotas and weighting used to match the population. Dollar figures for fees were taken from ACARA data with education sector inflation applied for 2026 using ABS data. Dollar figures for ancillary expenses represent costs incurred by parents and were extrapolated by trimmed CPI for 2026 using RBA data.

Published: July 2026

Last updated: July 2026

Source: Futurity Cost of Education 2026 research