Those who have children at privates, what is your HHI and net worth?

[Anonymous]

Anonymous wrote:Shocking how much FA goes to families owning expensive homes (900K +) and making North of 200K.

The issue is they don’t own 900k homes they are paying a mortgage. And 900k isn’t really the much, if ar all above the FHA limit in some areas.

[Anonymous]

£1

[Anonymous]

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

Same HHI range. 1 kid private, 1 public (by child's choice). 1-2, or even 3-4, private tuitions don't hurt and it would be silly to imply that it does.

The private school is in NW DC, so mostly high income families. Yet, I don't really know where we stand in the family income distribution. Definitely top 50%, almost definitely top 25%, very likely top 10%, probably top 5%, and not unlikely top 1%. But who knows? Many people in these threads seem to think parents at private schools all know who is wealthy/high income and who is not, but not me.

[Anonymous]

$700k with two in private elementary at $40k/each. It’s by far our biggest expense.

[Anonymous]

$550 K, net worth about $2 million, don’t need to save much for retirement as we will be receiving inheritance from my parents and DH’s parents totaling in excess of $20 million.

[Anonymous]

HHI 400K, 3 kids. 1 in private HS. 30K/yr. It is not a stretch for us to send a kid to private. We eat out and go on nice vacations as well as save for college and retirement.

[Anonymous]

Anonymous wrote:HHI 400K, 3 kids. 1 in private HS. 30K/yr. It is not a stretch for us to send a kid to private. We eat out and go on nice vacations as well as save for college and retirement.

Can you send all three of your kids?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

Agreed on supporting another child but it feels icky that you are talking about it. I’ll assume you don’t do that in local circles.

It’s ok, no one knows. Kids don’t even know.

[Anonymous]

HHI gross $125k-$200k, depending on the year. Family of 5 on a single federal salary. We don't own a home, but we also don't pay rent or utilities. 1 kid in private first grade at a small, not-well-known school. Tuition+fees ~$8,000. Supplies, uniforms, and the twice daily commute are around $2,000 for this year. It's ridiculously cheap compared to almost any other private school in the area. But given that we just barely paid off our own student loans, inflation is out of control, and we have very aggressive financial goals in other areas, we still feel it in an admittedly minor way. But private school is also one of those aggressive financial priorities. Our kid (all of them, actually) is HFA, extremely sensitive, and is thriving in the current school. Watching the blossoming development and the pure love and devotion of all the staff and teachers has just been phenomenal the past couple years. It's the best money we've ever spent on this kid. I can't imagine at this point that we will ever go public, but who knows. Paying for all 3 to do their entire careers in private schools will be an enormous stretch, particularly in the MS/HS years. We get no help from any family. Kids have extremely modest 529s for school and college but given current market conditions that's not a huge help either.

[Anonymous]

Anonymous wrote:350K two kids in LS at Big3 private.

Ouch!

[Anonymous]

combined income is 365k. one in private 16k for lower school. we feel it & husband gripes about it all. the. time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

The public schools in the DMV must be really bad!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

The public schools in the DMV must be really bad!

No, private schools in the DMV are just that much better.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

The public schools in the DMV must be really bad!

They are. Along with almost every other public school in the entire country. Comparisons of international rankings show this, as does the general American adult population.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$3.5-4.0M income; $40k tuition. Plus we are paying a similar amount for a friend’s kid to go to private also. I won’t be obnoxious and claim that it’s hurting us.

I commend you for supporting your friend's kid, I think that's wonderful you can support in that way.

The public schools in the DMV must be really bad!

They are. Along with almost every other public school in the entire country. Comparisons of international rankings show this, as does the general American adult population.

+1