The principal of Queensland's most "overfunded" private school has questioned the speed with which its federal funding will be cut under the Turnbull government's mooted 'Gonski 2.0' changes.
Hillbrook Anglican School in Enoggera charges $11,000 in fees each year, a figure principal Geoff Newton said was "moderate" compared to other, higher-profile private schools.
Hillbrook was identified alongside Cannon Hill Anglican College as the only two Queensland schools deemed likely to face immediate funding cuts in next week's budget.
Education Minister Simon Birmingham announced on Tuesday that 24 independent schools will have their funding cut next year as part of the new model. Some 350 schools will also receive less federal funding by the end of the decade than they would have under the current formula.
The government has declined to name the schools in question, however Fairfax Media's evaluation of the government's School Resource Standard criteria identified 26 most at risk, which included Hillbrook and Cannon Hill.
"We are taking the difficult decision of cleaning up a system riddled with inconsistencies and ancient sweet heart deals," Senator Birmingham said.
While acknowledging that a needs-based approach to funding was appropriate, Mr Newton said private schools should be given time to adjust their funding.
"If an $11,000 school is called elite and over-funded, this is different from some of the other schools mentioned in that list," Mr Newton said.
"I feel it is a little harsh to expect a funding cut, a freeze would be a much more reasonable compromise for some schools.
"We do 10-year projections on what we are going to do in terms of capital works, fee increases, staffing.
"I would argue for a freeze, which is a zero per cent increase on our current funding and inflation will eat that away."
Under the changes, schools receiving more than 80 per cent of their SRS from the federal government are expected to have their funding brought down over time, while schools exceeding 100 per cent of their SRS will have their funding cut from next year.
Fairfax Media's analysis found HAS was funded at 139 per cent and CHAC at 113 per cent of their SRS.
The Turnbull government has argued it is fundamentally fair to reduce funding for some wealthy schools as the vast majority of schools - around 9000 in total - will be better off than they are now. Most private schools will see their funding rise under the new model.
Grattan Institute School Education Program Director Pete Goss said the announcement was a "brave call... but the right call" and was in keeping with the broad principles of the Gonski Review as set out under the Gillard government.
The cuts come as $2 billion is expected to be injected into next Tuesday's budget for schools over the next four years on top of the $1.2 billion announced in last year's budget.
"Julia Gillard made a politically based decision to say no school would lose a dollar and the way it played out subsequently meant that some of these exemptions continued," Mr Goss said.
"Amazingly under legislation, some over-funded schools would still be over-funded this time next century unless something changed.
"They have been on a good wicket for a long time and every dollar that gets spent in an over-funded school is a dollar that can't be spent in a school that needs it more."
He said the new funding model would provide consistent funding on a needs basis, regardless of which state you were in.
Mr Goss said under the new system Queensland schools would do "reasonably well".
"Queensland I suspect will generally do reasonably well because government schools are not funded close to their target and they should be," he said.
"On average Catholic and independent schools in Queensland are funded just below 95 per cent of their target and on average would need a bit of a lift to get there."
Meanwhile Queensland Labor Education Minister Kate Jones on Wednesday accused her federal counterpart of trying to "trick" and mislead voters about its reforms.
Ms Jones said government schools across the state would be $300 million worse off over 10 years under the Gonski 2.0 changes, in contrast to the $1.43b surplus spruiked by Senator Birmingham.
"What we've seen by Simon Birmingham is an attempt to trick parents and to trick schools," she said in Brisbane.
"He is comparing his deep cuts to his less deep cuts.
"I am comparing it to the real dollars flowing into our schools right now in Queensland that expires at the end of June."
Senator Birmingham said Ms Jones' number-crunching was "curious" because Queensland would receive at least $100 million extra year-on-year over the first four years.
Cannon Hill Anglican College principal Robyn Bell was contacted for comment.
with Matthew Knott and AAP