The Australian Scholarships Group released its white paper this week and found that while most parents believe saving for their children’s education is important, other expenses were given a higher priority. 

Both buying a house and saving for retirement came in at the same level or above saving for education.

While parents believe it is important to make these savings, in reality about 36 per cent were able to put money aside for their child’s education. 

ASG chief executive John Velegrinis said Australians needed greater support when it came to saving money to fund their children’s education. 

“The results highlight the gap between this perceived importance of saving for education and how families are actually planning, prioritising and saving for future education costs,” he said.