At what income level is it a no-brainer to go private?

[Anonymous]

We've recently experienced a significant increase in our annual income.

We have 3 kids who are attending a great private preschool. We have mixed feelings about going all 12 years at a private vs starting at a JKLM school and moving to private for middle school.

We come from middle class backgrounds so do not have generational wealth or help from the grandparents.

We can afford private for all 3 now but don't want to find ourselves in "golden handcuffs" where we don't have room to leave a job or take a pay cut. (For context, right now our joint income is $1.5M per year but a few years ago it was at $370K per year when we both took pay cuts to follow jobs we were passionate about.)

With no debt and a relatively low mortgage ($3K per month), what income would you feel you need to bring in to go all in on private from preschool on while also saving and living comfortably?

[Anonymous]

You’ll be fine at your new income to send 3 kids. People manage on much less.

[Anonymous]

I would live like you make $500k and build a huge savings nest. Apply to private for 3rd or 4th grade entry years.

[Anonymous]

We make right around what you make and it still feels like a lot of money out the door every month (we also have a sizable mortgage). We are sending our younger to a JKLM now and started our older in private in 4th grade. Once you get to two kids in privates, it's $10K a month of post-tax dollars. 3 is going to be $16K every single month! That's a mortgage payment on a $4M house every single month for the next however many years.

I think a lot of people don't realize just how many of their classmates have grandparents that pay, so it often times feel like your whole social circle is easily affording private. When you self-pay trust me -- it feels like a lot!

I would start at your neighborhood school and then switch over in 3rd or 4th grade.

[Anonymous]

I would try to make a call for each kid at each stage. Private isn’t automatically a better option for all kids. Especially if they have special needs or are very affluent.

[Anonymous]

Anonymous wrote:We make right around what you make and it still feels like a lot of money out the door every month (we also have a sizable mortgage). We are sending our younger to a JKLM now and started our older in private in 4th grade. Once you get to two kids in privates, it's $10K a month of post-tax dollars. 3 is going to be $16K every single month! That's a mortgage payment on a $4M house every single month for the next however many years.

I think a lot of people don't realize just how many of their classmates have grandparents that pay, so it often times feel like your whole social circle is easily affording private. When you self-pay trust me -- it feels like a lot!

I would start at your neighborhood school and then switch over in 3rd or 4th grade.

The grandparent tax loophole is really an incredible policy decision. To me it seems insane, but it’s clearly propping up the private school industry.

[Anonymous]

I don't think it is ever a no-brainer. Depends on where you are, the public schools around here
can vary quite a bit. Depends on your kids and what their needs are. Convenience and transportation issues can play a role as well.

[Anonymous]

I put one kid in private starting in 9th and the other in 6th. I would at least try the public schools first and see how the kids do. We had an amazing public school experience with one kid and then hit some bumps with the other. COVID made things worse. But I'm glad I tried public first, so that I made an informed choice about switching to private.

[Anonymous]

It is not a no-brainer at any income level. We make enough money to send our kids to private--we would feel it, but it would not be a strain. But my parents have BEGGED us to send them on their dime. We declined (over and over). We both went to privates growing up and decided from the beginning that we would do public until something was not working. So far so good with a 7th and an 8th grader. May change our minds in high school but we have been happy with our public schools.

[Anonymous]

It's never a no-brainer. Private schools have down sides -- and public schools have advantages -- beyond financial. What do your kids need?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make right around what you make and it still feels like a lot of money out the door every month (we also have a sizable mortgage). We are sending our younger to a JKLM now and started our older in private in 4th grade. Once you get to two kids in privates, it's $10K a month of post-tax dollars. 3 is going to be $16K every single month! That's a mortgage payment on a $4M house every single month for the next however many years.

I think a lot of people don't realize just how many of their classmates have grandparents that pay, so it often times feel like your whole social circle is easily affording private. When you self-pay trust me -- it feels like a lot!

I would start at your neighborhood school and then switch over in 3rd or 4th grade.

The grandparent tax loophole is really an incredible policy decision. To me it seems insane, but it’s clearly propping up the private school industry.

Absolutely! It took me a few years to understand just how so many two government lawyers, non-profit employees, or parents who work part-time in "consulting" were sending two kids to private to the tune of $10K+ a month. Then when more than a few friends casually mention that the grandparents pay or the kid has a trust set up by the grandparent, it all became very clear!

[Anonymous]

It is not so much about price as it about fit. If child is thriving and is a good fit for one’s public, and parents are comfortable with academics at public, then stay public.

Private works best for kids who need smaller class sizes, or if local public schools are physically unsafe, or if local publics are not offering suitably rigorous academics.

Right now, college admissions is mostly a lottery. Some students will have better acceptance offers from a strong public (e.g., W schools) or other students might have better offers as the strongest student in a weak public school, while others might have better odds from a private which is a very good fit for that student and helps that student perform better overall. Going private for better college acceptances often does not work out the way parents wish.

[Anonymous]

Anonymous wrote:
Right now, college admissions is mostly a lottery. Some students will have better acceptance offers from a strong public (e.g., W schools) or other students might have better offers as the strongest student in a weak public school, while others might have better odds from a private which is a very good fit for that student and helps that student perform better overall. Going private for better college acceptances often does not work out the way parents wish.

+1. Private school can result in strong college outcomes when that school offers the right support, opportunities, and environment for that kid to grow. But there's not something inherent to all or most private schools that gives everyone the same boost in college. (I went to a NE private school that has very impressive college matriculation. But that school also has a very low acceptance rate, so they're already screening for kids who test well, interview well, and will probably do well in the college process! It's hard to say what's the school v. what's the student population.)

At your income level, what you have is maximum choice. It's not that you should automatically choose private schools because it's the best choice every time. It's that you can look at all the options and be super intentional for your kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make right around what you make and it still feels like a lot of money out the door every month (we also have a sizable mortgage). We are sending our younger to a JKLM now and started our older in private in 4th grade. Once you get to two kids in privates, it's $10K a month of post-tax dollars. 3 is going to be $16K every single month! That's a mortgage payment on a $4M house every single month for the next however many years.

I think a lot of people don't realize just how many of their classmates have grandparents that pay, so it often times feel like your whole social circle is easily affording private. When you self-pay trust me -- it feels like a lot!

I would start at your neighborhood school and then switch over in 3rd or 4th grade.

The grandparent tax loophole is really an incredible policy decision. To me it seems insane, but it’s clearly propping up the private school industry.

I don’t have a dog in this but how would you prevent this from happening?

[Anonymous]

Money is not the problem here at all unless you are going back to your old income. Thinks about school vs the child.
Money or no, I would never move a child from a school they love and are doing well.
K is very difficult in DCPS. Do you want this for your child or do you want them to play longer?