All of this will prepare them, as they mature, to be more reflective, and contemplative thus more able to wisely discern and answer God's call. Take special care with their formation outside the house. Encourage them to have a wide variety of friends with whom they can share the joy of your own family life. By the time they graduate from high school they simply must have an excellent grasp of Catholic teaching in its doctrinal and morality and be able to give an account to others of the hope that is within them. This is your primary responsibility.
Every family has different financial circumstances and choices.
It may be home schooling, the parochial or private school, or even the public school. It is not simply a question of choice, however. Christian parents have a serious responsibility to improve all varieties of education, always insisting on the primary responsibility of parents for their children's education. If need be, you may to teach them the Faith yourselves but in any case you must not send them off to college as innocent lambs ready for the slaughter. Believe me, there are plenty of wolves out there.