Skyrocketing private school fees mean Australian families are paying the most in the world to send their children to high school.
Private schools are literally sending parents broke, with Financial Counselling Australia (FCA) labelling them as “emerging users of bankruptcy”.
Astonishingly, private schools and training colleges file more bankruptcy cases than banks, insurers, and local governments…combined, according to FCA’s data.
Over the last four years, private schools and training colleges filed bankruptcy proceedings in the Federal Court a total of 128 times.
By contrast, Australia’s big four banks – banks that account for 70% of the home loans in a housing-obsessed nation – filed just 39 bankruptcy proceedings…