How do you afford tuition?

[Anonymous]

Anonymous wrote:We decided we can't. I mean, yeah, we could, if we really wanted to, but it would be difficult.

I've done some open houses at some of the more expensive schools, and don't see anything that makes me want to half-starve my family to send my one child there. Green Acres was great, as was Sandy Spring Friends. But only marginally so over some less expensive schools. (I have no interest in the schools that people talk about regularly on here. We just don't fit that demographic, so I can't speak to them.) The less expensive schools are around $15,000 a year. I can't justify the cost difference to myself. I need some breathing room in my budget, especially considering how the economy is floundering these days.

I understand your financial concerns. I would however like to point out that there is growing evidence that some of the less expensive privates are worse than public.

[Anonymous]

"So you make 400K and are worrying about how to afford tuition and ice cream cones? Give me a break! Let's say you spend $100K on tuition/nanny/etc. for 2 private school kids. Make that $150 in pre-tax dollars. You still have an income of $250-300K (pre-tax but post childcare/school obligations) which is incredibly healthy even in this area. Where are you spending your money?? This type of thinking is insane. This must be a troll."

The taxes on this income ain't cheap. Roughly 92k on 250k HHI federal taxes alone ... do the math.

Yes, I do know that well because our HHI is just about 250K.

If you start out with 400K, and pay 100-150K in tuition/nanny/school/taxes on this money you have 250-300K left and minus 100-150K in taxes you are still dealing with approx. 150K of income each year to live on. How does this equate coupon clipping/inability to buy an occasional ice cream cone?

[Anonymous]

Anonymous wrote:Why? because the truth hurts? Go find the thread where people with HHIs of $600K are asking for financial aid when applying to these schools.

Where did you see this? I remember a SAHM with HHI of $150K getting taken out to the woodshed because she asked if she could get financial aid for three children without touching the equity in her home. But someone with HHI of $600K?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We decided we can't. I mean, yeah, we could, if we really wanted to, but it would be difficult.

I've done some open houses at some of the more expensive schools, and don't see anything that makes me want to half-starve my family to send my one child there. Green Acres was great, as was Sandy Spring Friends. But only marginally so over some less expensive schools. (I have no interest in the schools that people talk about regularly on here. We just don't fit that demographic, so I can't speak to them.) The less expensive schools are around $15,000 a year. I can't justify the cost difference to myself. I need some breathing room in my budget, especially considering how the economy is floundering these days.

I understand your financial concerns. I would however like to point out that there is growing evidence that some of the less expensive privates are worse than public.

oh god - Here we go again - public schools and worse[b] in the same sentence.

care to share your growing evidence?

[Anonymous]

We made $250,000 last year and will make $200,000 this year because of the recession. We spend almost $60,000 to send two to private school and try to give at least $8,000 - 10,000 to charity. We live in a modest, older home, drive old cars, and take one vacation with extended family a year (which is partially subsidized for us by a family member). We probably won't be able to afford private when our third starts kindergarten.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We decided we can't. I mean, yeah, we could, if we really wanted to, but it would be difficult.

I've done some open houses at some of the more expensive schools, and don't see anything that makes me want to half-starve my family to send my one child there. Green Acres was great, as was Sandy Spring Friends. But only marginally so over some less expensive schools. (I have no interest in the schools that people talk about regularly on here. We just don't fit that demographic, so I can't speak to them.) The less expensive schools are around $15,000 a year. I can't justify the cost difference to myself. I need some breathing room in my budget, especially considering how the economy is floundering these days.

I understand your financial concerns. I would however like to point out that there is growing evidence that some of the less expensive privates are worse than public.

Not the ones I've been looking at, which are nowhere near DC.

[Anonymous]

Anonymous wrote:oh god - Here we go again - public schools and worse[b] in the same sentence.

She could have put it this way: on average, public schools are probably better than the less expensive private schools. No "worse." Feel any better?

[Anonymous]

Anonymous wrote:

Anonymous wrote:oh god - Here we go again - public schools and worse[b] in the same sentence.

She could have put it this way: on average, public schools are probably better than the less expensive private schools. No "worse." Feel any better?

The type of school really shouldn't matter if the parents have done their homework and have a good sense of their kid(s). I'm the one who's choosing a less expensive private school, because I believe, for "my" child, smaller classrooms in elementary are more beneficial. I live in the Wooten cluster, which is one of the best in MoCo, and I am completely underwhelmed with the local public elementary schools.

Other parents, in other jurisdictions, with different kids, could likely come to different conclusions. Particular local schools may be far superior. There are hidden gems everywhere. They just don't seem to be in my jurisdiction, and we aren't in a position to move. Kids who go to the private school I've chosen for my son (k-8) get into the magnet high schools in MoCo, the IB programs, and many go on to high schools like Georgetown Prep, Maret, Landon, and Sandy Spring Friends, which sound wonderful to me. Hopefully, if he flourishes as I hope, he'll have a variety of high schools from which to choose. And if not, we'll reassess and see what else might be a good fit.

In any event, I just wanted to highlight that there are less expensive, yet still excellent options out there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:oh god - Here we go again - public schools and worse in the same sentence.

She could have put it this way: on average, public schools are probably better than the less expensive private schools. No "worse." [b]Feel any better?

no, but thanks for trying

[Anonymous]

Private schools are less regulated, so there is more buyer beware involved. That is why there is such a wide range in outcomes in the private sector.