The government has proposed a funding formula for independent schools based on the median taxable income of students’ parents, replacing the previous system of assessing the socioeconomic status of a school's location.
Goulburn Valley Grammar principal Mark Torriero said the school would lose about $10 million from 2022 to 2029.
He said school fees would increase as a result, but it was too early to say by how much.
Mr Torriero said the change would disadvantage members from the entire Goulburn Valley community, particularly farming families and parents who worked multiple jobs to pay for private education.
“We’re not just Shepparton — we're Goulburn Valley Grammar, and we have students from everywhere,” he said.
“We have a lot of students from traditional agricultural families, and these industries are under terrible stress.
“Families make great sacrifices, they come from all walks of life, and a significant portion will no longer be able to make the fees.”
Mr Torriero said the diversity of the school, and the broader community, would change as a result of these gradual cuts.
“If this legislation is implemented, it will fundamentally change how diverse our community is.”
While the school would not close and no jobs were at threat, Mr Torriero said it would have to review its operations.
Coalition for Regional Independent Schools chair Stephen Higgs said the impact on Goulburn Valley Grammar echoed the concerning effect this legislation would have across country Australia.
“Our regional communities are hard hit by climatic events and economic downturns,” he said.
“We’re very concerned.”
The organisation calculated 11 private schools in regional Victoria would lose $97 million in funding between 2022 and 2029.
Federal Member for Nicholls Damian Drum said while this legislation was "not good news" for Goulburn Valley Grammar, "a lot" of other schools would benefit.
Federal Education Minister Dan Tehan said schools had until 2029 to fully transition to the new method.
“Commonwealth funding for non-government schools will be linked to parental income from 2020 using improved data collection and analysis that will ensure non-government school funding is targeted at the students who need it most,” he said.
To assist with the transition, the National School Resourcing Board will examine the "schooling resourcing standard loadings" as they impact schools and students in regional Australia, which will be taken to the next Council of Australian Governments education council and reviewed by June, according to a statement released by Mr Tehan's office.
The statement also said the state-based Catholic Education Commissions and Associations of Independent Schools would administer a $1.2 billion Choice and Affordability Fund, a percentage of which would flow directly to regional and remote schools.
The bill has been referred to a Senate committee.
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