By 2032 the top privates will $75k a year

[Anonymous]

Our current tuition is 57k. Assuming a 4% tuition increase per year, it will cost $75k a year in just tuition by 2032.

How is this sustainable for the vast majority of people??

[Anonymous]

most privates are not going to make it after 2028

There will be no jobs so no economy hence no money for privates
Project 2025 told you that.

[Anonymous]

I wonder if it will be like colleges and a higher percentage of students will get aid? But I could also see full pay families not wanting to subsidize others and not many schools have large endowments.

Anecdotally, I know a lot of people with 1 or 2 kids, and barely anyone with 3+ kids anymore. It’s a lot easier to stomach that tuition for one, maybe two, kids.

[Anonymous]

It’s mindboggling. Glad we have just one more year.

I went to Nysmith starting the year it opened for about $2,000 per year, followed by NCS for about $22,000. Nysmith is now ~$32k-47k depending on year, and NCS is about $58k with tech fee. Insanity.

[Anonymous]

I stopped donating when I realized where tuition was heading. I'll likely be paying over $100k/year in tuition for just high school per kid, and will then still have to pay for their college.

[Anonymous]

OP,

Given how surprised you are by this very predictable progression, I hope you're preparing for the cost of college, because that has been outpacing inflation for the past decades as well.

My son's private uni is more than 85K a year, total cost of attendance (room board tuition, etc). We pay 65K a year because he got merit aid. In order to afford any college my children might want, we moved to live in-bounds for a great public school. The costs are rising every year...

[Anonymous]

Anonymous wrote:OP,

Given how surprised you are by this very predictable progression, I hope you're preparing for the cost of college, because that has been outpacing inflation for the past decades as well.

My son's private uni is more than 85K a year, total cost of attendance (room board tuition, etc). We pay 65K a year because he got merit aid. In order to afford any college my children might want, we moved to live in-bounds for a great public school. The costs are rising every year...

College is different though. This is people paying $75k a year for elementary. Just seems wildly unsustainable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP,

Given how surprised you are by this very predictable progression, I hope you're preparing for the cost of college, because that has been outpacing inflation for the past decades as well.

My son's private uni is more than 85K a year, total cost of attendance (room board tuition, etc). We pay 65K a year because he got merit aid. In order to afford any college my children might want, we moved to live in-bounds for a great public school. The costs are rising every year...

College is different though. This is people paying $75k a year for elementary. Just seems wildly unsustainable.

It's not different from your wallet's perspective. If you understand that college is going to be 120K a year in 12 years, you have to think long and hard about Kindergarten at 75K a year and all the years in between. Because call me crazy, but I'm not sure that private school families paying 75K a year would be thrilled to go the in-state flagship route at 50K a year.

[Anonymous]

In NYC and the SF Bay Area, the cost of attendance is already pushing $70k per year for day high school. I believe several will cross that $70k mark in a few months when next year’s tuition rates are announced.

Those schools will reach $75k by 2028, I believe.

Boggles the mind.

[Anonymous]

If you’re W2 that means you have to advocate for a wage increase or lateral job hopping to achieve the same 4% increase

Or if you get income any other way - this impressed upon you the need to push up and to the right

[Anonymous]

Anonymous wrote:Our current tuition is 57k. Assuming a 4% tuition increase per year, it will cost $75k a year in just tuition by 2032.

How is this sustainable for the vast majority of people??

It’s not sustainable for the vast majority of people! That is why there are public schools!

[Anonymous]

Correct, that's how pricing changes over time. I also was able to buy a can of soda for 50-60 cents when I was in middle school, and it's now 3-4 times as much – so that's pretty in line with NCS going from $20K to $60K. (The 4% increase isn't that bad, considering inflation was around 8% in 2022 ...)

[Anonymous]

When our oldest started, it was $30k a year. We’ve managed to put one kid through private since K and another, who is now a junior, since PK. We had to make sacrifices (fewer vacations and discretionary purchases) but it was worth it. We wouldn’t have been able to make it work at $75K per kid. There are a decent amount of families like us who will be priced out. I suspect there are enough truly wealthy families to take our place.

[Anonymous]

Anonymous wrote:Correct, that's how pricing changes over time. I also was able to buy a can of soda for 50-60 cents when I was in middle school, and it's now 3-4 times as much – so that's pretty in line with NCS going from $20K to $60K. (The 4% increase isn't that bad, considering inflation was around 8% in 2022 ...)

Why did you pick the year with by far the most inflation of the last 20 years? You want to average that out over decades, bozo.

[Anonymous]

Anonymous wrote:Our current tuition is 57k. Assuming a 4% tuition increase per year, it will cost $75k a year in just tuition by 2032.

How is this sustainable for the vast majority of people??

Virtually nobody is spending even $57K for tuition. All those kids go to public school, which you also are paying for. Anyone not able to afford $75K per year, or whatever the number is, by 2032 is just being priced off the yacht. Plenty of folks, for the most desirable schools, will be able to afford that. Whether that's a good thing is an entirely different matter, but for the average family, we are already there.