It could cost you close to R1 million to give your child a basic education

Parents of grade R pupils should brace themselves to fork out close to R1 million for public schooling up to matric, while those who opt for private school should expect to pay close to R2 million.

These eye-watering amounts do not include university fees.

According to research conducted by Old Mutual, parents would have forked out R875,000 by the time their child starting grade R this year graduates from high school in the public schooling system. This amount, however, could reach around R1.89 million if parents send their child to a private school.

“Public primary school fees are currently about R22,600 a year, while private primary schools cost about R66,200 on average per year. Sending your child to a government high school will cost around R33,400 per year. At today’s prices, a private high school is likely to cost you R97,200 per year,” said Old Mutual’s strategic retail marketing manager Karabo Ramookho.

Projections for the next coming years

But education is not expected to get cheaper, with the department of higher education having proposed a 4.23% increase in tuition fees and a 6.23% rise in accommodation fees.

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This means, according to Old Mutual’s survey, that university fees could total around R51,700 for this year. Their survey projects fees to be the following in the coming years, based on education inflation of 6% each year:

Projected costs of one year of education	2022	2030	2035	2038
Public primary school	R22,600	R36,100	R48,300	R57,500
Public high school	R33,400	R53,300	R71,300	R84,900
Private primary school	R66,200	R105,600	R141,300	R168,300
Private high school	R97,300	R155,000	R207,500	R247,100
University	R51,700	R82,400	R110,200	R131,300

Is this affordable?

With the country’s unemployment rate continuing to plunge, and more and more graduates struggling to find jobs, the price of education can seem steep.

For basic education, there is an annual 6% inflation rate increase.

This leaves room for more private schools to offer education at a cheaper rate, said education expert and associate professor at the University of KwaZulu-Natal Wayne Hugo.

“What is slowly but surely happening is cheaper private schools are gaining more and more entry into this market. What is happening is that you have got the straight-up state schools from poor areas and township areas and quintile schools which don’t charge massive school fees… You can get an education in South Africa in a state school which is paid for by government where your kids also get a meal every day. There is still that option which exists, and its a functioning option. It is present and there are pupils who pass matric well in those schools,” said Hugo.

But some of these schools do not guarantee quality education, leaving parents searching for public schools which have a good reputation.

“Those schools end up getting more learners and start to charge higher fees because they need to get more teachers… The fact that the projections are right, it means the private schools are going to have to start thinking about coming in at different levels and start to come down in the range of their offerings. There are private schools already doing it,” said Hugo.

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But with the right planning, savings and the understanding of the costs of schooling, it is possible to provide a child with education, said Ramookho.

“Education is the gift that keeps on giving. South Africa has an unsustainably high unemployment rate and the latest figures show that statistically, those with an education are more likely to be employed.”

“With the right planning, advice and focus, it really is possible to make provision for a child’s education. The sooner you start, the better, and affordability is key. It’s best to start with what you have now, than not start at all,” said Ramookho.

According to Ramookho, the best time to start saving is when a child is born, or rather, starting today.

“If you start when a child is born, you will have at least six years for your investment to earn growth before they start school,” she said.

– rorisangk@citizen.co.za