Aussie families prefer hols to private school

More than half of all mums and dads in Australia would avoid sending their kids to private school if it meant they would have to forgo their annual hols, BankWest has found.

A new study carried out by the bank account provider has shown that the preference for a better lifestyle over a private education comes in the face of statistics showing that satisfaction with fee-paying schools has shot up while public schools are languishing.

Further findings from the BankWest study show that for 1 in 25 Australians, getting a botox injection would be a higher priority than sending their kids off to private school.

Many families feel the education their children will receive from government schools is more than satisfactory and, as a result, are channelling their finances towards other priorities," commented Bankwest group external communications manager Adrian Bradley.

In a bid to take some of the strain on Aussies, BankWest last month announced the introduction of new low-interest home loans, dropping its rates by 85 basis points.