Constant Tuition Increases -- at what price point will you have to switch to public?

[Anonymous]

My husband + I both work FT -- have one child in private + struggle to pay the private school tuition. We live in DC and despise public schools. At what price point will you switch to public if you are paying for it yourselves w/o help from anyone?

[Anonymous]

You have to figure that tuition is going to increase at at least four percent a year. When we started private school with our first kid, tuition was about $14k. Now its solidly north of 30k and we have three kids at the school. Private colleges are about $50k before you figure in transportation. My total bill for educating my kids through four years of college could easily be $2 million. When people ask me about private school I tell them to look forward ten years, imagine paying for multiple tuitions and 2x the current cost. If they are ok with that, I say go for it. Otherwise,it's a lot of stress.

[Anonymous]

When you put it that way pp -- it is shocking.

[Anonymous]

If you are paying $30,000 for 6th grade then by the time dc is in 12th grade you will be paying $39,477, assuming a 4%/yr increase. I'm guessing it will go up more than that. When we first moved here in 1999, tuition was $11,000 now it's $30,000. I think that increase is a bit more than 4%/yr. Soon only the richest of the rich and poorest of the poor will be able to afford it.

[Anonymous]

Its actually more like a 7 percent increase.

[Anonymous]

Even if you can swing tuition out of your annual income, you need to ask whether you are saving enough for college and your own retirement.

[Anonymous]

How many years of your life are you not paying tuition?

[Anonymous]

oh and have made your annual gift?

[Anonymous]

How old is your child, OP?
We did DCPS through Grade Six, will do private for the rest. It's a killer but I cannot return to the madness that is DCPS.

[Anonymous]

For a single child probably $80,000. That's when it doesn't make any sense any more.

[Anonymous]

Total cost K-12 for my rising 5th grader, assuming a 7 percent annual tuition increase.
$506,935

[Anonymous]

Knew, going into private school two years ago, that there would be price increases of about 5% every year. Almost $35,000 now and no FA at all (just thrifty living), but do not foresee switching at this rate. DC just loves his school and the education is tops, so we feel the school is worth the money.

[Anonymous]

I'm expecting to pay through Grade 12....after that DC is on their own so scholarships and loans are in order. If I pay through the nose on the front end then DC is going to have to work it out...with our guidance of course.

[Anonymous]

Are you serious pp? You expect your kid could pay his own way through college when it now costs about $50k a year for private and whatever for public. Why not save the money now and have them go public?
I paid 100% of my own college -- no loans, no parents paying, etc. But that was when anyone with a PT job could commute and pay their own way

[Anonymous]

There are limits to how much you can borrow, even for college. We haven't had to investigate this yet, but I believe these limits are way below $50K per year.

Also, some educational loan providers will look at your income and, if you were making enough to send DC to private at $35K per year in 12th grade, they will expect it of you for freshman year of college, and on.