Viva: Should I pay for my grandchildren's school fees?

With rising educational costs, more and more grandparents are helping out with school fees. The cost of sending a child born in 2018 through the private schooling system ends up close to half a million from prep through to Year 12. And it could be even higher in the bigger cities. However, with longer life expectancy, it certainly pays to make calculated decisions before digging into your retirement savings.

School Children Source: Getty images