Education Cost Calculator Australia — School Fees & Savings Plan
Estimate the total cost of education from primary school to university. Compare government, Catholic, and independent school fees. Plan your savings with tax-effective options like education bonds.
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How to Use This Calculator
Tab "Total Cost"
Enter your child's current age, select a school type (Government, Catholic, or Independent), and choose university plans (HECS-HELP, full-fee, or none). The calculator estimates the total cost from the remaining school years through graduation, accounting for fee inflation. Under "More options," adjust the fee inflation rate (default 5%, historical range 5-8%).
Tab "Savings Plan"
Enter your total cost target (from Tab 1), years until education starts, and current savings. The calculator shows the monthly savings needed to reach your target, suggests investment vehicles based on your timeframe, and highlights tax-effective options like education bonds and HECS-HELP.
Tab "Compare Schools"
Enter annual fees for two school options and the number of years (Prep to Year 12 = 13 years). The calculator shows the total cost difference and what you could earn if you invested the savings in an ETF instead.
The Formulas
Year N cost = Base annual fee × (1 + inflation rate)^N
Total = Sum of each year's inflated cost
Monthly savings (PMT formula):
Gap = Target - (Current savings × (1 + r)^years)
Monthly = Gap × (r/12) ÷ ((1 + r/12)^months - 1)
School years in Australia:
Prep/Kindy: age 5 (1 year)
Primary: Years 1-6 (6 years) — total 7 years including Prep
Secondary: Years 7-12 (6 years)
University: typically 3 years
Total Prep to graduation: ~16 years
Education bonds:
Tax on earnings: capped at 30% (company rate)
Withdrawals for education after 10 years: tax-free
Costs are indicative averages based on ABS and ACARA data. Actual fees vary significantly by institution, state, and year level. Private school fees have historically risen faster than CPI, averaging 5-8% per year.
Example
The Nguyen Family — 3-year-old, Independent School Plan
Planning for independent school (Prep to Year 12) plus university on HECS-HELP. Current age: 3. Fee inflation: 5%.
Starting to save now with $20,000 already set aside, the Nguyens need approximately $2,200/month invested at 7% return to cover the private school costs. They choose an education bond for tax efficiency and plan to use HECS-HELP for university (no upfront cost, repaid through tax when the child earns over $67K).
Australian Education Costs (Indicative Annual Ranges)
| Education Level | Annual Cost Range |
|---|---|
| Government primary/secondary | ~$0 + voluntary $200-$500 |
| Catholic school | ~$2,000-$8,000/year |
| Independent school (primary) | ~$10,000-$25,000/year |
| Independent school (secondary) | ~$15,000-$40,000/year |
| University (CSP/HECS-HELP) | ~$4,000-$12,000/year |
| University (full fee domestic) | ~$15,000-$45,000/year |
| TAFE / VET | ~$5,000-$15,000/course |
| University accommodation (on-campus) | ~$15,000-$25,000/year |
Fees vary significantly by state, institution, and year level. Sydney and Melbourne tend to have the highest private school fees. Fee inflation for independent schools has historically been 5-8% per year.