This study empirically examines how the increase in private education expenditures affects fertility rate. Delivery itself doesn't cost much, but child rearing and education cost significantly, and the loss of household income due to parental leaves should also be recognized as the expenses of child care. The low fertility rate is being discussed as a critical issue in Korean society, but the benefits of not having children can be greater than the costs related to having children including education and housing expenditure as they continue to increase. This study examines the relationship between private education expenditures and the total fertility rate in 16 cities and provinces in Korea from 2009 to 2018. The result shows that the increase in private education expenditure tends to lower the total fertility rate. In particular, the group with high participation in private education is more affected by the decline in the fertility rate due to the increase in private education expenditures compared to the low participation group.