Private school is a choice. You don't have to, but you choose to; that is totally fine. But, private schools benefit from the non-profit tax exemptions. If that is taken away, the true cost of private will apply. The tax payer is subsidizing private schools when they play no role for the public good, unlike other non-profits. And now, after the Tax Cuts and Jobs Act, individuals get a taxpayer subsidy via 529s. So, yeah, that's a publicly funded subsidy. |
I don't think they have as much as money as they let on. I'm privy to a lot of details about the people keeping up with the Joneses in this area. Sending kids to private on a HHI of $375k is financial cowardice. |
It will never NOT be amusing to me watching people who sent their precious cargo to schools like connelly schoolboy the holy child, tuition: $32,000+ ,or Georgetown day, tuition: $38,000+ , only to have said kids ending up at colleges where 80%+ of the student body is amdd of kids who hail from public schools .
As if that wasn't enough, a good number of them —especially the women—end up with 'Mrs jobs': digital content creator, social media director etc . Jobs that scream " I'm waiting for some trust fund kid or some financially promising bro to come save me so I can be his glorified cheerleader " . Fellow private school flame outs need not apply. Ultimately, people have the right to spend their money as they see fit . But men!! Few things have as lousy a return on investment as private schools. |
After tax dollars saved in 529 plan don’t amount to a taxpayer subsidy - whether that money is used for college or k-12 makes not difference - the money is not coming the government. Perhaps you are not clear on the meaning of subsidy? |
Except when the public schools failed to teach anything for a year and a half. Or! When public schools cancel all AP or honors programs or stop being selective to make everyone equally undereducated. Except for those items - yep, public is great. |
most people sending their kids to private school aren't looking at it as an ROI. it's more analogous to a high-end car. first, there are plenty that make lots of $$$ so the money isn't that much to them or the grandparents are paying. second, you are assuming it's about doing better in college admissions - for most, it's not that - but about the school experience. |
You’re really stupid. If I get could no longer claim nonprofit status they still would pay very little tax since only “profits” are taxed and schools spend their income on expenses. |
If all my children learn is to be a better writer than you, it will have been worth it. |
Then you don't know how nonprofits work. To qualify as one, you have to pass a public benefits test. I do know that the income they make is not "profit," according to the revenue code, which is the most egregious part of private, nonprofit secondary schools. Whether or not you understand that is the divide. Likely, you are too happy to live on this subsidy under the code. Enjoy! |
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Either you are willfully lying or you do not understand your finances. Dollars going into a 529 are indeed after-tax; but dollars going out -- including gains -- are NOT TAXED AT ALL if they're used for the plan's purposes. So, yes that is a subsidy you receive under the IR code. This is where I will go snarky and say, I hope your private school kids are not so financially illiterate as this post make you out to be. God help those little "masters of the universe" to be! I have no problem with private schools (I went to boarding school), but I do have a problem with obfuscation. Just admit your privilege and move on. |
I’m the pp you’re responding to. I’ve taught using six different math curriculums. My private ended up choosing Math in Focus, which is fabulous, so no. |
That is just Singapore Math and can be just be supplemented at home. NBD. |
Exactly this. It is not necessarily about the college admission, test scores but the well rounded experience. |
I find this point fascinating , assuming you're really sincere about it. However, in this context, experience is all–encompassing word that can mean a lot of things while meaning nothing in aggregate . I mean , you're spending $35k+ for the 'experience' , but what experience ???? |