I go to a private school ($10 000 + per year), but you would be hard-pressed find anyone more opposed to the Federal government's education funding programme than me.
Alexander makes a fair point, but it is a moot one. No one is up in arms when your local Catholic school (Catholic schools are considered independent) gets a funding boost. It's when the richest schools - schools like Barker, Kings, Trinity Grammar etc - get millions when public schools in Western Sydney are allowed to rot, that people begin getting pissed off. And this is certainly what is happening now.
In the past, funding was based on means tested system. The government would look at each school and judge it on its merits: Kings, for example, would never be given $3 million to spend on another rugby field, swimming pool, lawn bowls arena, or whatever they do with all that money (they certainly don't use it to lower their fees, that much you can be certain of). Now, however, funding is not based directly on income at all: it's based on the area code of where you live! The problem is, there are plenty of suburbs in Sydney especially where the mean income is low, but still contain many very wealthy people - particularly inner western suburbs. And another thing: most private schools have a high % of borders, and borders tend to come from rural areas, which have very low average incomes, though the borders themselves tend to come from very wealthy families (otherwise they wouldn't be able to afford the huge bording fees).
The funding system is obviously rotten to the core, designed by rich politicians who send their own children to private schools, many with their own neoliberal agendas. Many of these people would no doubt like to see the whole idea of public education wither away into obscurity. Their plan is simple and its working: squeeze public schools of Federal funding, boost funding to private schools, pay public school teachers mickey mouse wages, wait till the HSC results of public schools become ridiculous, then watch while parents shirk and say 'hey, if we don't get our child into a private school, she's not going to get a decent job!'.
This is politics.