Six years ago, the Herald reported that fees at Sydney’s most expensive private schools were about to reach $38,000. This year, as education editor Lucy Carroll reported last week, they’ll hit $51,000. Every time I read annual fee stories, I’m flummoxed by the same question, writes Jordan Baker. Who can afford this? The answer is grandparents; those same cashed-up Boomers who have inflated the housing market by buying houses for their children. Read more: https://lnkd.in/gSTybD4p
"The answer is grandparents; those same cashed-up Boomers who have inflated the housing market by buying houses for their children." This could be ONE of many reasons for high housing prices. Would like to see your stats on how many buyers in the last 5 years: 1.Borrowed money from a parent/grandparent and what % was that of the purchase price. 2.Given 100% of the purchase price from a parent/grandparent as a gift. 3.How many property sales qualified for stamp duty exemption. 4. Cultural background of people receiving these handouts. 5. When people get these handouts, what percentage do they pay over the guide price of the property purchased. If you have the data, forward to me and I will model it for FREE!!!!
It is curious how so many concepts may be confused and conflated in the one place, together with an ample dose of the politics of envy. All the while what is absent is the acknowledgement that, without this cohort of pupils (they're not students by the way) representing 25% of the school population, the public school system would collapse under the added financial and administrative burden. Never let the facts get in the way of a good story.
Haven Tso
2w
The government should just stop financing private schools and put all that money to invest in public schools. Never believe that my tax money should go to the wealthiest people to pay less for elite education in disguise of 'fair chances' when they are ripping off all other Australians who cannot afford it.
Media, public relations and corporate communications professional.
2wNobody is forcing anyone to pay high fees for private education. Those who pay it choose to do so. Every student whose education is funded by their family (or any other benefactor) is a student the taxpayers do not have to fund in full. For those who prefer public education, the public system is available. There has been increased spending on public education in recent years so, if public schools are not attracting capable students, perhaps a fresh look at the curriculum or teaching styles or other standards may be timely.