What Parents Expect To Happen With School Fees In 2023

Over the past two years, families have experienced the effects of the rising cost of living, but what may be less noticeable is how school fees 2023 have dealt with their own unique issues.

The expense of providing education has increased over this time, despite the fact that schools have moderated price increases to assist families with the difficulties caused by the economic burden of the pandemic.

Our most recent research indicates that there will probably be a sizable difference between what parents anticipate happening and the actual school price hikes that take place next year.

Schools are under more financial stress.

School operational costs have increased as a result of higher inflation, and schools are finding it more challenging to maintain crucial student facilities due to growing prices for energy, furniture, and cleaning supplies.

Since salaries make up 79% of school spending, shortages of instructors have significantly increased staffing costs, placing a considerable burden on the budget of schools. In order to continue providing kids with a high-quality education, schools have had to increase spending due to the rising cost of construction projects.

Some schools are experiencing a decrease in government income in addition to rising running expenditures, which will put further strain on their budget.

What parents are expecting

Our most recent study of 1,100 families revealed that the majority anticipate their school fees to rise at a comparable rate to prior years of up to 3%, despite high levels of inflation hurting the cost of providing education.

Parents who responded to our survey stated they expected school fees to rise by less than 3% on average (67.5%), with 40.6% of respondents believing the increase would be between 1-3%.

Parent expectations are not aligning with schools

In 2023, many primary school fees  will face the difficulty of bridging the gap between what parents expect and the decisions that schools will be required to make. Some schools have already mentioned larger increases of between 4% and 10% in order to manage the mounting strains on their budget.

If families are compelled to attend a school with a cheaper tuition, a bigger fee rise might not be able to match increased running costs for the school. Families who are paying more for housing and living expenditures have even less leeway in their budget for other costs, like schooling.