The recession is biting into every area of society, including private education, with private schools reporting reduced rolls as some parents cut back on a major area of discretionary spending.
Tuition fees, uniforms, sports gear and camps can all add up to tens of thousands of dollars over 13 years of primary and secondary education.
But many parents seem satisfied they're getting educational value for money - even if they have to make sacrifices to keep their children in private schools during tough times.
Paul and Sabrina Woodruffe decided to send their daughter Madeleine to Auckland's Diocesan School for Girls for her last two years of secondary education.
They were attracted by the quality of the courses available at the school, but had to plan carefully around fees of about $16,000 a year.
Paul Woodruffe estimated that, with extras, Madeleine's two years would cost about $35,000: "You could get several bachelor degrees for that."
And while the price was high, he said you had to put it in context. "Can you put a price on your child's happiness and eagerness to learn?
"It probably is market rate for what it is. If you decide to educate your child privately and just pay a tutor it would probably work out the same."
Diocesan principal Heather McRae said deciding to educate a child privately was an important choice and commitment for parents. She said it was common for both parents to work to send a child to private school, with one income going only on education.
St Kentigern College in Pakuranga charges tuition fees of $14,700 a year. Acting principal Suzanne Winthrop said the school offered a wide range of activities and smaller class sizes.
"Parents certainly see that as value for money," she said. "That's what the parents' money goes into, so that the kids can have the best shot."
Headmaster of Christ's College in Christchurch, Simon Leese, said the school tried to include as much as possible in annual tuition fees of $14,373.
And parents of his boarding pupils often reflected on how much it would cost if they had their son at home.
"There is no doubt that many opportunities available at the school, if being funded individually from outside the school, would represent a very significant cost to parents."
King's College in Auckland charges $19,340 a year for students in years 9, 10, and 11, and $19,872 for students in year 12 and 13. That includes textbooks, stationery, workbooks and visits to camp.
Headmaster Bradley Fenner, said he was aware parents made "significant sacrifices" to send their children to the school.
"It's something that, frankly, I find quite humbling."
Independent Schools of New Zealand executive director Deborah James said parents who sent their children to private schools clearly thought they were getting value for money. "One size does not fit all and not every child suits every school," she said.
$180,000 an investment
Sue and Ken Fountain are months away from finishing a $180,000 commitment to their children's education. That's how much the Auckland couple estimate they've spent sending son Scott and daughter Jess to St Kentigern College in Pakuranga.
"The fees have gone up every year and that's a surprise," said Sue. "I suppose it's life and you have to accept everything goes up."
The couple decided to send their children to the school because of its Presbyterian values. Scott was a pupil from 2001 to 2006. Jess started in 2003 and is now in year 13.
When Scott started in 2001 the tuition fees were $10,000 a year, now they are $14,700.
Sue said the couple saw the expense as an investment in their children's education. It meant putting on hold a move to a bigger house or having longer holidays.
But they plan to start saving for themselves when Jess finishes school at the end of the year. "When she leaves school is when we start investing much more seriously in our retirement."
High cost of an education
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