Curious how much should you pay for private school tuition?

[Anonymous]

Income of 500k
Mortgage is 550k
3 children
How much should we pay for tuition? Private vs catholic school tuitions seems to be very different.
2 children have special learning needs and would benefit from smaller class size

[Anonymous]

Our tuition was just increased to almost $50k .

So on a 500k income you could not afford to pay that for three children.

The question is rather how much do private schools cost in your area, and among those how much do those schools that you like cost?

If you are religious, catholic schools seem to be a good deal.

Our daughter got into our dream school so we have to suck it up...

[Anonymous]

How stable is your income/jobs? Are you at risk of being laid off in your 50s?

[Anonymous]

Anonymous wrote:Our tuition was just increased to almost $50k .

So on a 500k income you could not afford to pay that for three children.

The question is rather how much do private schools cost in your area, and among those how much do those schools that you like cost?

If you are religious, catholic schools seem to be a good deal.

Our daughter got into our dream school so we have to suck it up...

Catholic schools are very unlikely to provide for the kids with learning issues. For that they will want a smaller private that typically focuses on kids with learning issues. Otherwise, most privates don't cater to those type of issues.

That being said, getting your kids the best help they needs as early as possible is "priceless" and I would do anything possible to make it happen (2nd job, not eating out, less travel/cheaper vacations), including keeping the kid without any issues in public school if needed. Getting your kids the help they truly need can mean the difference between a highly successful adult and someone who barely limps towards HS graduation and hates school and struggles socially.

[Anonymous]

Buy a home in the Wood Acres / Pyle /Whitman district. Problem solved.

[Anonymous]

Anonymous wrote:Income of 500k
Mortgage is 550k
3 children
How much should we pay for tuition? Private vs catholic school tuitions seems to be very different.
2 children have special learning needs and would benefit from smaller class size

Whats your monthly disposable income? Or what's PITI? $550K mortgage is sort of meaningless without knowing your interest rate.

[Anonymous]

Anonymous wrote:Income of 500k
Mortgage is 550k
3 children
How much should we pay for tuition? Private vs catholic school tuitions seems to be very different.
2 children have special learning needs and would benefit from smaller class size

You budget an amount that’s comfortable for you. How can anyone else say this without knowing what your monthly budget looks like?

[Anonymous]

Like many people at our school we pay nothing and our parents pay tuition. Income = $420k, tuition x2 = $80k, which grandparents pay

[Anonymous]

You can absolutely afford it on that income.

[Anonymous]

Anonymous wrote:Like many people at our school we pay nothing and our parents pay tuition. Income = $420k, tuition x2 = $80k, which grandparents pay

Your income is insanely high. That seems gross to have the parents pay for all. What happens if they cannot anymore.

[Anonymous]

Anonymous wrote:Our tuition was just increased to almost $50k .

So on a 500k income you could not afford to pay that for three children.

The question is rather how much do private schools cost in your area, and among those how much do those schools that you like cost?

If you are religious, catholic schools seem to be a good deal.

Our daughter got into our dream school so we have to suck it up...

Of course they could. It's all about lifestyle choices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Like many people at our school we pay nothing and our parents pay tuition. Income = $420k, tuition x2 = $80k, which grandparents pay

Your income is insanely high. That seems gross to have the parents pay for all. What happens if they cannot anymore.

Most people around my income admit their parents pay most or all of their kids’ private tuition. We could make it work if we cut back on any savings, but we also live in the Whitman school district so we could also switch to public if we had to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Like many people at our school we pay nothing and our parents pay tuition. Income = $420k, tuition x2 = $80k, which grandparents pay

Your income is insanely high. That seems gross to have the parents pay for all. What happens if they cannot anymore.

There’s usually an education trust paying for it. Rich people live differently.

[Anonymous]

Anonymous wrote:Like many people at our school we pay nothing and our parents pay tuition. Income = $420k, tuition x2 = $80k, which grandparents pay[/quote]

Ugh, my mother in law paid tuitions for SIL’s three kids (ages 4, 10 and 12) then when she died, SIL demanded her brothers (who were childless then) pick up the tab (nope!). Hopefully things are done fairly in your family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Like many people at our school we pay nothing and our parents pay tuition. Income = $420k, tuition x2 = $80k, which grandparents pay

Your income is insanely high. That seems gross to have the parents pay for all. What happens if they cannot anymore.

Most grandparents paying $80K tuition per year for grandkids are loaded. They've planned well and the situation isn't likely to change at that Networth (DP)