Are big 3 applications down?

[Anonymous]

Anonymous wrote:

I meant that families who typically (in a sound economy) could afford the tuition will probably still apply to schools now, and decide later (after admission letters are sent) whether they are willing or still able to afford the tuition. We are applying. But if the 401k continues to tank, if the bonus isn't decent, if the raise is non-existent (you get the picture) we may not accept any offers of admission we get.

New poster here, this totally describes our situation as well.

The additional pieces we are considering are the possibility (probability?) that this economic situation will continue for a few years. I know we could come up with $25K for a year or so, but $100K and more is going to be damn difficult for this middle class family if the economic situation persists, as I think it will.

Also, I honestly worry about DH losing his legal job at some point. He has been in-house at various companies in the last 15 years, and in that time many of his colleagues have been laid off, bought out, merged out, etc etc.

And, the economic situation is really spanking the retired / near-retired crowd too. If we were ever in a very serious $ situation, say surprise medical expenses, I would not be embarrassed to go to our parents and ask for help. But I don't feel like I could, or should, do this for tuition help when the parents' monthly fixed income (and assets) are being pummeled.

So these are some more issues we will be considering come mid-March.

You raise a lot of good points. We're in the same boat - even the part about parents. I always felt like that was my cushion, but I don't think it's there anymore.

[Anonymous]

I refused Maret for 7th and 9th last year.

[Anonymous]

Anonymous wrote:I refused Maret for 7th and 9th last year.

really? why was that? I'm assuming by refuse, you mean you refused to even apply?

[Anonymous]

Anonymous wrote:

I meant that families who typically (in a sound economy) could afford the tuition will probably still apply to schools now, and decide later (after admission letters are sent) whether they are willing or still able to afford the tuition. We are applying. But if the 401k continues to tank, if the bonus isn't decent, if the raise is non-existent (you get the picture) we may not accept any offers of admission we get.

New poster here, this totally describes our situation as well.

The additional pieces we are considering are the possibility (probability?) that this economic situation will continue for a few years. I know we could come up with $25K for a year or so, but $100K and more is going to be damn difficult for this middle class family if the economic situation persists, as I think it will.

Also, I honestly worry about DH losing his legal job at some point. He has been in-house at various companies in the last 15 years, and in that time many of his colleagues have been laid off, bought out, merged out, etc etc.

And, the economic situation is really spanking the retired / near-retired crowd too. If we were ever in a very serious $ situation, say surprise medical expenses, I would not be embarrassed to go to our parents and ask for help. But I don't feel like I could, or should, do this for tuition help when the parents' monthly fixed income (and assets) are being pummeled.

So these are some more issues we will be considering come mid-March.

We will not apply this year at all (Pre-K) and will look seriously at our local public school next fall before we jump into the K application process. My 3yo is doing great at her preschool and I see no reason to comit to a $30k bill in these uncertain economic times. By keeping her in preschool for a extra year we will save close to $20k (they are open in the summer so no need to summer camp tutition next summer or the next for that matter). That was reason enough for us to pass this year.