This study examines the drivers and effects of household educational expenditure in South Korea with a focus on financial, socio-economic, geographical, and psychological aspects that influence expenses. Substantial private education costs exert considerable financial pressure on families, rendering this issue essential for the formulation of equitable policies. This research utilizes the 15th National Survey of Tax and Benefit (NaSTaB) data with 14,897 families. The analysis focuses on variables including household debt, tax burden, perceptions of income disparity, and residential satisfaction. Moreover, ordinary least squares (OLS) is applied to estimate the multiple linear regression model, assuming the best linear unbiased estimator (BLUE) conditions.

 The results indicate that elevated household debt and tax obligations markedly enhance expenditures on private education, but psychological elements, such as perceptions of wealth disparity and time preference, also exert considerable influence. These observations highlight the necessity for policy measures to mitigate financial strain and guarantee equal allocation of educational budgets. The study underlines the necessity of enhancing public education strategies to diminish dependence on private education and reduce regional inequalities.

 The study indicates that targeted measures, including tax relief programs and initiatives to mitigate income-related worries, may lessen the financial strain on families. It underscores the imperative of prioritizing public investment in marginalized areas to provide equitable access to quality education. The interaction of economical, social, and psychological elements in influencing educational expenditure habits highlights the intricacy of tackling educational disparities. This research provides essential insights for enhancing public education spending and facilitating enduring policy advancements.