Investing in your child’s education is a smart and fantastic way of spending your money. It means that you’re not only investing in your child’s learning now, but also in their success and opportunities in the future, whether it’s in regards to their higher education or their professional careers in the ‘real’ world.
Better Financial Stability
With the rising cost of education and school expenses in Australia – even when it comes to public schools – families are often struggling to keep up with the costs of school fees. In a media release by the Australian Scholarships Group (ASG), the schooling costs for a child born in 2012 (in metropolitan areas) can range from $65,000+ for a government school and $400,000+ for a private school. Also, while costs for rural schools are less, both groups of figures are by no means small amounts of money.
Investing in your child’s education from an early age (or perhaps even shortly after they are born) means that you’ll be much better prepared, financially speaking, when it comes time for them to start school.
In Australia, for example, the ASG runs a program through which parents can contribute to benefit funds that willdirectly provide for their child’s educational future, while minimising the burden that educational expenses have on their everyday budgets.
A Better Education Overall
From your child’s perspective, better financial stability also means a better education for them overall. It can mean the difference between sending your child to an average school and a school geared towards excellence, or between a public and private education.
In primary school, being financially ready allows your child to participate in things like school excursions, camps, competitions, and other extracurricular activities, while in high school, it can mean the opportunity for them to proceed to graduate or postgraduate education at a university, or another higher education institution, whether it be a Doctor of Philosophy (PhD)or simply a Diploma of Business.
Many schools, with the support of parents, teachers and students alike, are also encouraging children to enrol in the IB (International Baccalaureate)program, in which high school students can earn certificates and diplomas in the hope of preparing and being accepted to university, or gaining an international education (in some cases, IB educational methods are also employed in primary schools, with the aim of encouraging students to think for themselves and conduct their own research).
While IB programsare generally not for profit, they can also incur additional expenses for exams, materials, travel and training substitutes – and those with more financial stability will be able to give their children an IB education, as opposed to those who may not be able to afford it.
Opportunities to Study Abroad
Professional development in the wider world is a major focus of many schools and programs, and the ability to both study and work abroad is something that does not come for cheap or for free. Opportunities can be expanded greatly with international experience, and parents who invest early in their children’s education will be able to support them with an international study.
This may mean that they can attend an international school (or if part of the IB program,an IB World School), college or university, get the chance to increase their knowledge and skills,and be able to utilise any secondary languages they havelearned.