{"id":225407,"date":"2018-02-20T18:00:06","date_gmt":"2018-02-20T16:00:06","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=225407"},"modified":"2018-02-20T17:16:40","modified_gmt":"2018-02-20T15:16:40","slug":"how-much-it-will-cost-to-send-your-kids-to-school-and-university-over-the-next-18-years-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/225407\/how-much-it-will-cost-to-send-your-kids-to-school-and-university-over-the-next-18-years-in-south-africa\/","title":{"rendered":"How much it will cost to send your kids to school and university over the next 18 years in South Africa"},"content":{"rendered":"
While education remains a top priority for South African parents, steep annual tuition fee hikes versus average salaries barely able to keep pace means it is vital that putting your kids through school becomes part of a considered financial plan.<\/div>\n
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This is according to Marius Pretorius, proposition manager at Old Mutual, who\u00a0cites recent Statistics SA data which found that almost two in every 10 potential learners are unable to attend school or a tertiary institution due to a lack of funds.<\/p>\n

\u201cThis is extremely worrying and suggests that many parents are not planning sufficiently and also not aware that help is out there,” said Pretorius.<\/p>\n

“The fact is you don\u2019t have to shoulder the burden of financing your child\u2019s education alone.\u201d<\/p>\n

He further cautioned that\u00a0despite government’s recent announcement that students from working-class homes would qualify for free higher education from this year, South African parents would still need\u00a0to factor in the additional expenses related to education.<\/p>\n

Costs<\/strong><\/p>\n

According to Old Mutual, the cost of education is expected to increase by about 9% per year.<\/p>\n

This means that within five years, you could be facing school fees of around R50,000 per annum – for a public school.<\/p>\n

Similar increases can be expected across the education sector Old Mutual said, with the expected cost of one year of university rising from R58,860<\/strong> in 2018 to R254,725<\/strong> by 2035.<\/p>\n

Below are the expected costs for one year of education at public and private high schools, and universities over the next 18 years.<\/p>\n

\n
\n\n\n\n\n\n\n
Expected cost of one year of education<\/th>\n2018<\/th>\n2023<\/th>\n2030<\/th>\n2035<\/th>\n<\/tr>\n
Public Primary or High School<\/td>\nR34 613<\/td>\nR53 256<\/td>\nR97 355<\/td>\nR149 792<\/td>\n<\/tr>\n
Private Primary School<\/td>\nR84 742<\/td>\nR130 386<\/td>\nR238 351<\/td>\nR366 733<\/td>\n<\/tr>\n
Private High School<\/td>\nR136 065<\/td>\nR209 352<\/td>\nR382 704<\/td>\nR588 838<\/td>\n<\/tr>\n
University<\/td>\nR58 860<\/td>\nR90 563<\/td>\nR165 553<\/td>\nR254 725<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Read:\u00a023 day schools in South Africa that charge more than R100,000 a year for tuition<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report from Old Mutual looked at how much the cost the cost of primary school, high school and university is set to increase from 2018 to 2035.<\/p>\n","protected":false},"author":10,"featured_media":77459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,1110],"class_list":["post-225407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-old-mutual"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/225407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=225407"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/225407\/revisions"}],"predecessor-version":[{"id":226755,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/225407\/revisions\/226755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/77459"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=225407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=225407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=225407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}