In a recent back to school survey 95% of parents who were surveyed said they are stressed, while 88% said they are financially strained.
The blues parents are experiencing now that the schools have opened for 2025 shows how important it is to treat your child’s education as a long-term investment.
Back-to-school preparation poses a considerable financial challenge for parents, with 88% reporting that back-to-school costs set them back financially, forcing them to compromise in other areas to afford these expenses. According to the survey, the expenses that concern parents most are school fees , school uniforms and stationery . The survey also revealed that 92% of respondents’ children do not have bursaries or financial aid, leaving most families to shoulder the full cost of education.and support systems for South African families. Education is a cornerstone of opportunity, but it comes at a cost that many parents find overwhelming,” says Carol Mazaka, consumer director at 1Life Insurance.
“Prioritising savings throughout the year, even in small amounts, can also make a significant difference along with exploring options for second-hand uniforms and supplies, or applying for fee exemption which can help reduce costs.” “One of the biggest financial challenges parents face today is the rapidly increasing cost of education. From crèches to universities, educational expenses seem to increase faster than the general rate of inflation, creating a strain on family budgets.
Primary schools and tertiary institutions followed closely, with both increasing fees by 5.9%. University boarding costs also surged by 8.2%, while crèches saw a 6% hike in fees. Early indicators suggest that 2025 will see similar high rates of education inflation.
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