The Cost of Educating a Child in South Africa

START BEFORE YOUR CHILDREN ARE BORN

Investing in our children's education is one of the most important investments parents can make. A good education is critical to our children's future in a fast changing extremely competitive world. Private education used to be luxury in South Africa, however there is a critical shortage of government schools and the majority of them are oversubscribed. A good education does not come cheap. 

Sending your child to private school from grade R to grade 12 in South Africa will cost you around R3.7 million, according to the City Press. The newspaper calculated the figure based on a child who starts school in 2016 and leaves matric in 2028. Stationery, uniform, and boarding costs were included in the figure, with the annual schools fees based on the rates of a private school in Johannesburg.

Then comes a tertiary education, many fields such as medicine in South Africa enroll students on a race quota system. Many A grade students are been turned away from SA Universities and to follow their dreams will have to study overseas. Some publications report 1 in 4 matriculants applying at a University were accepted.  

How much education costs

The table below is based on the figures calculated by the City Press – taking annual school fee increases and other price hikes into account.

Education costs in South Africa
School
Institution	Total cost: Grade R – Grade 12
Average fee-paying school	R253,404
Upper-income former Model C school	R676,306
Private school	R3,721,293
University(3-year BA degree)
Unisa	R189,918
Wits	R360,211
UCT	R472,528

Saving for your children's education 

The sooner you start to save for your children's education the better. Prospective parents should start saving for the children before they are even born. The reason is simple it takes time to save money. Many parents due to the high cost of living can't even keep up, never mind save money for their children's education. However for many South African's this mistake could deprive their children of a quality education. 

Start an Education Plan 

Start saving for your children's future today, for expert advice on starting your child's education plan click this link Education Plan . Ensure your children's tomorrow today.  

Fundisa Unit Trust Scheme

The Standard Bank Fundisa Fund is a unique new product, pioneered by STANLIB, ACI (Association of Collective Investments) and the Department of Education. It is the first of its kind savings for education account. Fundisa also provides for an annual government bonus amounting to 25% of an investors contributions that can be used for tertiary education fees. This bonus not only helps you invest for our future but can ultimately educate the nation to improve the levels of skills in South Africa.

The Standard Bank Fundisa Fund account may be used for the education of a learner of your choice - as long as they are a South African citizen, and are studying at an approved place of learning. When the learner is ready to study, the Fundisa account confirmation is presented to the university or college by the learner. The college then submits this confirmation to the Fundisa account and the Fundisa account will pay the fees over to the college or university through the National Students Financial Aids Scheme. The bonus paid by the government is limited to a maximum of R600 a year and the bonus can only be used for education purposes.

With as little as R40 a month - giving the lifelong gift of a good education is now open to so many more.

Fundisa operates like a unit trust account. All Fundisa funds are managed by STANLIB in a range of selected industry income funds. The funds are invested in a low risk cash and government bonds. The government bonus that is dependant on the amount you have saved in the 12 months ending each September and is paid into the investors account in the following January each year. This 25% bonus is limited to R600 per year. (R2400 p/a 25% bonus of R600 p/a R200p/m)

To invest in this email me.