Most parents don’t save school fees

The cost of sending two children to a moderately priced private secondary school for six years is likely to be more than $90,000, according to the National Centre for Social and Economic Modelling. A Commonwealth Bank survey found that while most parents are feeling confident about paying for their children's education, 60 per cent haven't started saving in advance. There are many savings plans for school fees, ranging from conventional managed funds to friendly society bonds.

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