How do people afford tuition that will only continue to go up?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Income is fine at $400k combined salary but we have 3 kids. 2 have special needs and will require small class sizes. All kids did public but now with middle and high school approaching, we think it’s time to move 1-2 kids over to private. Income is enough to not qualify for aid yet 2 tuitions of 40k or so, feels constraining. We don’t typically take lavish trips but wondering how others see this, finance it?

Just wait until you have to pay 160k a year just to keep the two kids who need small classes in private colleges with small classes and supports.

Those small private colleges often give some of the best merit aid though

[Anonymous]

Huh. We make $225k and pay $35k and it’s fine. One car, townhouse, local vacations, but none of that is a particular hardship.

It’s all down to lifestyle, I think.

[Anonymous]

Anonymous wrote:Huh. We make $225k and pay $35k and it’s fine. One car, townhouse, local vacations, but none of that is a particular hardship.

It’s all down to lifestyle, I think.

How are your retirement savings? College savings for your kid? And what if you had 3 kids?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We also have an annual income of $400k and 2 kids in top private schools. Grandparents pay $80k in tuition, like most other families I know in our income bracket.

Same here. There are very, very few in our bracket ($400K) at my kid's two schools. My kid (3) attend private for high school only. Grandparents pay for 2 of the 3 of them. We pay for one. There is no way we'd pay $165K out of our own income.

We make 3 Mil/year. So having 2 kids in private is pretty easy. We don’t feel the cost.

[Anonymous]

All of the cost increases are driven by admin, buildings, and safetyism, just like at the college level. This will only stop when demand stops. Locally, privates have had a big demand increase thanks to the decline of MCPS. If they ever get their act together, the privates will probably (hopefully) be forced to make cuts in the administrative layer… but that day never seems to come.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We also have an annual income of $400k and 2 kids in top private schools. Grandparents pay $80k in tuition, like most other families I know in our income bracket.

Same here. There are very, very few in our bracket ($400K) at my kid's two schools. My kid (3) attend private for high school only. Grandparents pay for 2 of the 3 of them. We pay for one. There is no way we'd pay $165K out of our own income.

We make 3 Mil/year. So having 2 kids in private is pretty easy. We don’t feel the cost.

You sure you can afford it though on that HHI? We would have to cut back significantly.

[Anonymous]

Anonymous wrote:Not sure 400k is enough to do independent school but maybe look at Catholic schools.

Perhaps you could do Gonzaga and stoneridge as tuitions are less than independents?

But GZ now $30k/ year and rising which is tough with two at $60k/year.

[Anonymous]

I think the key takeaway with the crazy increase in tuition is that with an HHI of $400K with 2-3 kids it is not feasible for a top private unless you have significant family money. Many people I know in that bracket have grandparents who are paying. It sucks that this is where we are at but it's just the reality.

[Anonymous]

Our private school is one of the less expensive ones and tuition for for high school was more than for private college with merit aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Income is fine at $400k combined salary but we have 3 kids. 2 have special needs and will require small class sizes. All kids did public but now with middle and high school approaching, we think it’s time to move 1-2 kids over to private. Income is enough to not qualify for aid yet 2 tuitions of 40k or so, feels constraining. We don’t typically take lavish trips but wondering how others see this, finance it?

Just wait until you have to pay 160k a year just to keep the two kids who need small classes in private colleges with small classes and supports.

There are plenty of public colleges that have small class sizes.

[Anonymous]

They make more money or have more money (family money).

Seriously, what is so hard about this tou set stand?! Why us there a new thread about this every week.

They have more money than you. Duh.

[Anonymous]

It's worth it if you consider the unfair advantages that rich aholes have in the us. If you can be segregated by class and not have to deal with poverty and the whole bag that comes with it you can block you children from all that comes with living in what seems like the third world.

[Anonymous]

Anonymous wrote:I think the key takeaway with the crazy increase in tuition is that with an HHI of $400K with 2-3 kids it is not feasible for a top private unless you have significant family money. Many people I know in that bracket have grandparents who are paying. It sucks that this is where we are at but it's just the reality.

This 👆. I think 1 child in private with $400K is a stretch. Depends on when you bought your house and mortgage I guess.

[Anonymous]

They either make more money than you do, or they didn’t have so many kids. Three kids in private school is an incredible luxury, and you’re not entitled to it just because you want to be.

[Anonymous]

The answer is I wouldn’t and wasn’t able to afford it at that income. I make roughly $850K now and accordingly can full pay.