Those who have children at privates, what is your HHI and net worth?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know lots of people in private who make under $200k. Grandparents pay tuition.

People on DCUM always say this, but I don’t know one person who openly admits that grandparents pay tuition.

Of course they don’t openly admit it!! I don’t. Even my closest friends don’t know. In our family, grandparents pay tuition for all 7 grandchildren. This is not uncommon in wealthy families.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are both overeducated public servants. HHI is $300K and we are paying for two kids, $70K/year. We have managed to save enough in 529 to hopefully pay less during the college years. Crossing fingers.

How is this possible? Is your house paid off or something?

Mortgage is below $3K and we have no student debt. We do not feel like we are scrimping. Still very much looking forward to the end of HS tuition paying days for our oldest DC, May 2023 can't come soon enough!

[Anonymous]

We make $425K and have 3 kids; one is in public and two are in private high school, tuition bill about $106K. Right now we pay half and grandparents pay half. We're trying to figure out what will happen when kid#3 goes next year--we'll likely pay but grandparents have offered to chip in. We use public until high school.

We have the only grandchildren on either side of the family. My kids would much prefer to have cousins (over private school tuition) but such is life.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know lots of people in private who make under $200k. Grandparents pay tuition.

People on DCUM always say this, but I don’t know one person who openly admits that grandparents pay tuition.

We live in an inner suburb. People tell me this all the time. "We're lucky to have my parents help with tuition." "We couldn't do it without my in laws' help." etc.

[Anonymous]

$280K HHI, PG county home worth over $600k (almost twice more than what we paid), 3 kids in small private ($30k a year), no more student loan debt or any other debt aside from mortgage, and no help from grandparents, in fact, we help family out often.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I know lots of people in private who make under $200k. Grandparents pay tuition.

People on DCUM always say this, but I don’t know one person who openly admits that grandparents pay tuition.

Of course they don’t openly admit it!! I don’t. Even my closest friends don’t know. In our family, grandparents pay tuition for all 7 grandchildren. This is not uncommon in wealthy families.

May I ask why even your close friends don't know? Is it a none of your business thing or do you have some mixed feelings about it?

[Anonymous]

Anonymous wrote: Net worth 9 million. 4 kids and close to $200,000 annual tuition.

Is this considered exceedingly rich? The top 1%? The ruelling class?

[Anonymous]

Anonymous wrote:We have a HHI of about $250k, and little assets besides retirement accounts, a very used car, and our house which is worth more than when we bought it but we still have a mortgage to pay. Would it be reasonable for us to expect to be considered for financial aid at a progressive private high school?

I think so. we have the same situation and got 30% off tuition for private ES.

[Anonymous]

Anonymous wrote:Curious how rich are private school kids.

Not all are rich.

Both of my younger two attended private schools for the lower or middle grades on partial or full scholarships. Beyond the other scholarship kids, there are many families in which a grandparent, family trust, or employer was footing the tuition.

[Anonymous]

HHI 750k - 1 in private prek @ 20k/yr for 3 hrs / day 😳 - 1 in public with activities that add up to about 20k/year

20k / year feels easy but the thought of 2 @ 40-50k/ year does not seem like a good idea for our financials

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know lots of people in private who make under $200k. Grandparents pay tuition.

People on DCUM always say this, but I don’t know one person who openly admits that grandparents pay tuition.

They won’t admit it to people who judge them or they think will judge them, but people admitted to me frequently.

[Anonymous]

Anonymous wrote:Irrelevant when there is a continuously growing, limited use trust fund paying for education -- more common than you'd expect. When I realized this, I stopped comparing our means to others because you never know who has hidden wealth or fairy godmothers.

. . . or comes from the family of Scrooge McDuck.

[Anonymous]

3 kids in private from k-12. Salary $400k. Tuition for upper school is $40k (not dmv). Mortgage $350k and 2 paid for cars. Tight. We pay ourselves but will have about $20k per kid per year for college, so that helps.

[Anonymous]

Anonymous wrote:1.2 million annual income. About 7 million net worth (real estate). Two elementary school age kids in $40,000 private. We could save more by not paying tuition, but we think kids need the small class environment.

So much money here in DMV.... who are these people making millions in income? They better do something good to the society like being a professors, doctor, or nursing home assistant. Instead, they perhaps are just attorneys.

[Anonymous]

Anonymous wrote:

Anonymous wrote: Net worth 9 million. 4 kids and close to $200,000 annual tuition.

Is this considered exceedingly rich? The top 1%? The ruelling class?

This, this is rich!