The research found the average cost of sending two children to a Sydney private school for 13 years stands at $715,862.
However,a family enrolling a child at Kambala at Rose Bay –the most expensive school in Australia– will now pay $514,100 for 13 years of schooling for one child– a figure which does not include future fee increases,extra costs such as uniforms or any outside tutoring.
The bill for sending two girls there will cost $976,790,slightly less than double because the school offers a 10 per cent sibling discount.
The Scots College in Bellevue Hill costs $459,975 for one boy to attend for 13 years of schooling,while fees for a girl during the same period at SCEGGS Darlinghurst currently stand at $476,696.
According to the Futurity report,which was compiled by social research company McCrindle and surveyed parents at 517 schools in NSW,the median cost of sending a child to an independent school was significantly less at $357,931.
Half of that figure was fees,for which surveyed parents are expected to pay an average of $8920 per year. Other yearly costs were forecast to be $2708 for electronic devices,$1767 for tutoring and $818 to pay for musical instruments and $501 per year for uniforms.