As my daughter is approaching high school age, I am in the position to either send her to an elite private school which will costs about $50 - $60k p.a. all up. Or send her to local government high school which is mediocre in my area like ranked 150ish on the SMH HSC rankings and purchase a property or invest the money instead of paying the private school fees.
My thinking is if I send my daughter to private school, then chances are she will get a better education/being better all rounder and PERHAPS… do better in life and financially for herself later.
On the other hand from an economic perspective, I can't help but lean towards the government school + investing route as i have high doubts that the additional education or expected value if you will of the private school education will outweigh the investment returns of putting 50-60k away for her in investments., I.e. buying a property now while it's still "cheap" lol.
What are people's thoughts and opinions on this?
Should I give my daughter the best chance at education and empower her or just invest the money and give to her later?
To add to this, the real barrier / bias coming from the above observation largely comes from minute behaviours / mannerisms. Things like tone, behaviour, accent, all play a very big factor into whether you get a good first impression or not.
The people currently in charge can tell the difference between what they've heard/observed since their schooling days all the way through, and if you manage to sound/act the same as their preferred group, they will inherently like you more.
So the main value of private schools is adjusting to these minute behaviours, picking up the accent etc, you also have the chance to meet the next suite of the countries' leaders. If you go to a mid level private school, probably not worth it. If you go to one of the best ones, or any in one of the best suburbs, your kid will likely go to school with the next CEO of Woolworths.