With costs rising all the time, this topic is a critical one for young parents.
| COST OF ONE YEAR’S EDUCATION | ||
| 2017 | Primary or high school – public
Primary school – private High school – private University |
R 32 000
R 78 000 R125 000 R 54 000 |
| 2022 | Primary or high school – public
Primary school – private High school – private University |
R 50 000
R122 000 R197 000 R 85 000 |
| 2030 | Primary or high school – public
Primary school – private High school – private University |
R103 000
R253 000 R406 000 R176 000 |
| 2035 | Primary or high school – public
Primary school – private High school – private University |
R149 000
R364 000 R584 000 R253 000 |
Assumptions: Figures are based on former Model C government and private schools and universities. Projected annual fees assume a flat increase rate of 9.5% which is the current cost of education inflation rate.
Where to start saving:
- Unit Trust Funds
- Endowment policies – including specific education plans
- Tax Free Savings Investments
(From an article which first appeared in “Personal Finance”)