How do you afford private school?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $400k and pay $47k for one child. It's painful and we often wonder what the heck we're doing. Also--tuition goes up by $1500-3K a year. Most schools had a reprieve in tuition increase this year due to Covid but I'm sure a large increase is coming next year for all schools. Also, various fees and many donation requests (we donate small amounts) tack on another few thousand per year.
Our income level is pretty rare at the school.

That’s under 12% of your annual income, which is pretty reasonable. I’m having a hard time understanding how that is a hardship.

400k income is rare?

Are you implying that it is in the richer side or poor side of the average.

We make 7 figures and sometimes look around and feel poor compared to some of the parents in our school.

I'm the poster you replied to.

Rare as in poor. At 400K we are definitely income for this private. Which is crazy of course as we are upper middle class in any other context. But the wealth at the top privates is insane as you too (feeling "poor" at 7 figures) can attest.

Same. Over $420k HHI, one kid, feel on the lower end money-wise of our private school environment. Which is ridiculous - the good news is we could care less about keeping up with the Jones’s. We’re there because the schools our DC is zoned for all stink and we want DC to have a great education (that by the way, we didn’t get - no legacy or family money here nor grandparent help).

Sincere question for PP - If the draw was not necessarily private but avoidance of local publics, did you consider moving to an adjacent suburb with stronger public schools? House might cost more, but at the end of a public school education you still have the house.

[Anonymous]

The mysteries of other people's budgets.......

My BIL's is one of a two teacher household, and they send THREE kids to one of the $50Kish a year private schools. THREE.

I know they get FA, but it's gotta be a LOT of FA. They are not an URM, just normal white people living the suburban dream, driving a subaru, and oversharing on FB.

[Anonymous]

Do they teach at the school?

[Anonymous]

Anonymous wrote:Just one kid and reasonably priced home.

Same for us. The monthly cost of our mortgage is under our means, so we can put the extra towards tuition. Also, just one kid.

[Anonymous]

Anonymous wrote:We make 350K. We save a lot because of where we stay and our kids going to STEM programs in public schools. We live well on 150K. And while 350k is very comfortable and we save for our retirement and our kids, it is only comfortable if you live a middle class life style.

Yes we have maid service, lawn service, no food budget, foreign vacations, tutors, no debts and a nicely funded retirement...we are comfortable and careful with what we have.

So...your kids go to public school? The question posed was how do you afford private school. Are you just explaining how you afford...your life?

[Anonymous]

Anonymous wrote:
Sincere question for PP - If the draw was not necessarily private but avoidance of local publics, did you consider moving to an adjacent suburb with stronger public schools? House might cost more, but at the end of a public school education you still have the house.

Not PP, but can relate - we moved to "adjacent suburb with stronger public schools" a.k.a. Logfellow/McLean. I haven't done the math, but now we have much, much higher housing expenses - mortgage, prop.taxes, swim.club fees, - that are probably comparable to the private tuition... except we ended up still paying it since FCPS decided to go full remote. I'm not complaining, but giving an example how it goes not the way you planned.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make 350K. We save a lot because of where we stay and our kids going to STEM programs in public schools. We live well on 150K. And while 350k is very comfortable and we save for our retirement and our kids, it is only comfortable if you live a middle class life style.

Yes we have maid service, lawn service, no food budget, foreign vacations, tutors, no debts and a nicely funded retirement...we are comfortable and careful with what we have.

So...your kids go to public school? The question posed was how do you afford private school. Are you just explaining how you afford...your life?

😆

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $400k and pay $47k for one child. It's painful and we often wonder what the heck we're doing. Also--tuition goes up by $1500-3K a year. Most schools had a reprieve in tuition increase this year due to Covid but I'm sure a large increase is coming next year for all schools. Also, various fees and many donation requests (we donate small amounts) tack on another few thousand per year.
Our income level is pretty rare at the school.

That’s under 12% of your annual income, which is pretty reasonable. I’m having a hard time understanding how that is a hardship.

400k income is rare?

Are you implying that it is in the richer side or poor side of the average.

We make 7 figures and sometimes look around and feel poor compared to some of the parents in our school.

I'm the poster you replied to.

Rare as in poor. At 400K we are definitely income for this private. Which is crazy of course as we are upper middle class in any other context. But the wealth at the top privates is insane as you too (feeling "poor" at 7 figures) can attest.

Same. Over $420k HHI, one kid, feel on the lower end money-wise of our private school environment. Which is ridiculous - the good news is we could care less about keeping up with the Jones’s. We’re there because the schools our DC is zoned for all stink and we want DC to have a great education (that by the way, we didn’t get - no legacy or family money here nor grandparent help).

We are around this range — about $450 but have two kids. They are young (4 and 1) so I’m hoping we can save, grow our incomes more, and have enough in 529s to put some toward K12 by the time they get a bit older. Right now, I just can’t justify the $30k+ schools especially with our mortgage (my parents live with us, so we have a larger house than many in the area). We are looking at smaller parochials for K-8 now but hope to be able to afford independent Catholics or privates for high schools. We have no family money or other assistance.

[Anonymous]

One kid + we turned off the spigot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $400k and pay $47k for one child. It's painful and we often wonder what the heck we're doing. Also--tuition goes up by $1500-3K a year. Most schools had a reprieve in tuition increase this year due to Covid but I'm sure a large increase is coming next year for all schools. Also, various fees and many donation requests (we donate small amounts) tack on another few thousand per year.
Our income level is pretty rare at the school.

That’s under 12% of your annual income, which is pretty reasonable. I’m having a hard time understanding how that is a hardship.

400k income is rare?

Are you implying that it is in the richer side or poor side of the average.

We make 7 figures and sometimes look around and feel poor compared to some of the parents in our school.

I'm the poster you replied to.

Rare as in poor. At 400K we are definitely income for this private. Which is crazy of course as we are upper middle class in any other context. But the wealth at the top privates is insane as you too (feeling "poor" at 7 figures) can attest.

Same. Over $420k HHI, one kid, feel on the lower end money-wise of our private school environment. Which is ridiculous - the good news is we could care less about keeping up with the Jones’s. We’re there because the schools our DC is zoned for all stink and we want DC to have a great education (that by the way, we didn’t get - no legacy or family money here nor grandparent help).

How do you guys have a feel for other families' HHI? This is our 4th year after moving from public to private, and I have no idea what people make. However, we're at one of the lower cost privates, and the families we've met live in areas that are not that fancy (Petworth, Kensington, etc.) so I assume their incomes are around ours ($350K), give or take 100K.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $400k and pay $47k for one child. It's painful and we often wonder what the heck we're doing. Also--tuition goes up by $1500-3K a year. Most schools had a reprieve in tuition increase this year due to Covid but I'm sure a large increase is coming next year for all schools. Also, various fees and many donation requests (we donate small amounts) tack on another few thousand per year.
Our income level is pretty rare at the school.

That’s under 12% of your annual income, which is pretty reasonable. I’m having a hard time understanding how that is a hardship.

400k income is rare?

Are you implying that it is in the richer side or poor side of the average.

We make 7 figures and sometimes look around and feel poor compared to some of the parents in our school.

I'm the poster you replied to.

Rare as in poor. At 400K we are definitely income for this private. Which is crazy of course as we are upper middle class in any other context. But the wealth at the top privates is insane as you too (feeling "poor" at 7 figures) can attest.

Same. Over $420k HHI, one kid, feel on the lower end money-wise of our private school environment. Which is ridiculous - the good news is we could care less about keeping up with the Jones’s. We’re there because the schools our DC is zoned for all stink and we want DC to have a great education (that by the way, we didn’t get - no legacy or family money here nor grandparent help).

How do you guys have a feel for other families' HHI? This is our 4th year after moving from public to private, and I have no idea what people make. However, we're at one of the lower cost privates, and the families we've met live in areas that are not that fancy (Petworth, Kensington, etc.) so I assume their incomes are around ours ($350K), give or take 100K.

Just adding that are former DC public seemed a lot fancier in some ways--yes some kids from lower SES families, but also lots of dual-income who vacation in fancy places, large homes, etc.

[Anonymous]

To the PP who asked about knowing others incomes:

At upper tier privates in DC, administrators and development offices spend time trying to make educated guesses about family income from internet searches. So there is a lot of assumption of industry norms going on. Sometimes individuals will engage in this speculation as well. It's one of the most awkward aspects of private education.

To the PP who earns an upper class income but feels like they do not: it is your mental state, not your income or the families around you, that leads to this feeling.

[Anonymous]

Anonymous wrote:To the PP who asked about knowing others incomes:

At upper tier privates in DC, administrators and development offices spend time trying to make educated guesses about family income from internet searches. So there is a lot of assumption of industry norms going on. Sometimes individuals will engage in this speculation as well. It's one of the most awkward aspects of private education.

To the PP who earns an upper class income but feels like they do not: it is your mental state, not your income or the families around you, that leads to this feeling.

I'm the PP who asked about knowing people's HHIs. I don't think this happens much at our private, which is not a Big 3 and rarely talked about here. People seem down to earth and we haven't felt sized up or grilled about our occupations. It's not the type of school people send their kids to if they're concerned about the Joneses, or at least that's my sense.

I remember getting this sense at a tour for another, more well-known private, where I felt another parent sort of sized me up. (We also felt the administration seemed cold, so didn't apply.) But don't think this is the case at all privates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $400k and pay $47k for one child. It's painful and we often wonder what the heck we're doing. Also--tuition goes up by $1500-3K a year. Most schools had a reprieve in tuition increase this year due to Covid but I'm sure a large increase is coming next year for all schools. Also, various fees and many donation requests (we donate small amounts) tack on another few thousand per year.
Our income level is pretty rare at the school.

That’s under 12% of your annual income, which is pretty reasonable. I’m having a hard time understanding how that is a hardship.

400k income is rare?

Are you implying that it is in the richer side or poor side of the average.

We make 7 figures and sometimes look around and feel poor compared to some of the parents in our school.

I'm the poster you replied to.

Rare as in poor. At 400K we are definitely income for this private. Which is crazy of course as we are upper middle class in any other context. But the wealth at the top privates is insane as you too (feeling "poor" at 7 figures) can attest.

Same. Over $420k HHI, one kid, feel on the lower end money-wise of our private school environment. Which is ridiculous - the good news is we could care less about keeping up with the Jones’s. We’re there because the schools our DC is zoned for all stink and we want DC to have a great education (that by the way, we didn’t get - no legacy or family money here nor grandparent help).

How do you guys have a feel for other families' HHI? This is our 4th year after moving from public to private, and I have no idea what people make. However, we're at one of the lower cost privates, and the families we've met live in areas that are not that fancy (Petworth, Kensington, etc.) so I assume their incomes are around ours ($350K), give or take 100K.

Even in areas that are “less fancy” you can still have homes well over $1 million. I’m the $450 family that just moved from Brookland. There’s a lot of money all of the city and pretty wide ranges in income in neighborhoods like Petworth especially for families that may be going private. They may buy a less expensive home to go private rather than buy in the Wilson school district. Save on money and probably get a better education too.

[Anonymous]

Single mom of one child, making $170k. We get a 25% tuition discount for financial aid. Child is in high school, so I only have to make it work for a few more years.