Sidwell - 2023-24 tuition for PK-2 will be $50k

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02/02/2023 11:24

Subject: Sidwell - 2023-24 tuition for PK-2 will be $50k

quote

Anonymous

The annual announcement of outsize tuition increases at Sidwell just came out. For 2023-24

Grades PK-2: $49,680 (ages 4-8 LOL)
Grades 3-4: $52,110
Grades 5-8: $54,700
Grades 9-12: $55,140

Dear Parents and Guardians,

Each January, the Board of Trustees of Sidwell Friends School approves the preliminary budget for the following academic year. It is the culmination of a data-intensive process that assesses needs and priorities, considers economic trends, and benchmarks key financial indicators, including compensation, against other top independent day schools in the region and the country.

This is the second consecutive year we have engaged this work at a time of high inflation. By now, we are all aware of the impact inflation is having on our economy and on the budgets of so many households. And while there are some encouraging signs—inflation has been declining over the past six months—the future remains uncertain. What we do know is that the cost of food, energy, contracted services, and materials required for campus maintenance have risen significantly, and further increases are likely.

Tuition accounts for 86 percent of the School’s revenue, and because of that fact we devote the majority of our budget discussion to the amount of the annual increase. Last year, the School increased aggregate tuition by 6.7 percent, which was up from 3 percent the prior year, before inflation had set in. In both years, the increase trailed the rate of inflation.

For next year, the board has authorized a 6.5 percent aggregate increase. The percentage increase by grade level will vary as we continue the gradual shift to a tiered tuition model that better reflects the higher costs of educating students in the upper grades. Tuition rates for the 2023-24 academic year will be:

Grades PK-2: $49,680
Grades 3-4: $52,110
Grades 5-8: $54,700
Grades 9-12: $55,140

I know this tuition increase will be an unwelcome development for many. However, given today’s economic circumstances, it is our duty as a board to ensure that Sidwell Friends School continues to provide the finest educational experience it can while also ensuring the long-term financial health of the institution. To that end, I want to assure you of three things:

The board has committed to invest additional tuition revenue in faculty and staff. Faculty and staff compensation accounts for 60 percent of our operating expenses, and more than 85 percent of the tuition increase will go directly to faculty and staff benefits. We must recruit, reward, and retain outstanding staff in a competitive market to ensure we continue to deliver the highest quality education for our students. This is particularly true today, when many schools are vying for talented educators and some teachers are rethinking their careers after a very difficult three years.

Socio-economic diversity remains a core value at Sidwell Friends. We are increasing the financial aid budget at a rate at least equal to the tuition increase. Moreover, for the second year in row, we will have a financial aid contingency to assist families particularly challenged by this high inflationary environment. Families who wish to inquire about that support may contact Frankie Brown to discuss your specific situation.

Every dollar of the tuition increase will go toward current spending that supports the education of your child or children. None of the increase will be applied to long-term development plans, which are being financed through philanthropic giving.
In closing, and on behalf of the board, I want to thank you for the trust you have shown in Sidwell Friends this year and in years past. The board recognizes that families have choices and that economic pressures in our society are very real. We also acknowledge how much work faculty, staff, and administrators continue to put in to provide the finest educational experience possible to the 1,140 students who come to the School each day. We remain grateful for the contribution everyone makes to this community.