What percentage of your net income goes to tuition?

[Anonymous]

ditto, I am not planning to pay for full ride through college
We will help with the costs as much as possible and assist with any loans if possible.
They can work and contribute and get scholarships like we did for the rest.
If we are able to pay for all three full ride, awesome...if not...we are not stressing over this..retirement is first priority

[Anonymous]

Why I stay in PG County:
childcare 8%
mortgage 11%
student loans 6%
affordable independent school for three kids 20%

these are after 10% retirement deductions from pay

[Anonymous]

Our school in West Los Angeles, Angeles Workshop School www.angelesworkshop.com , offers tuition at about 10% of a family's gross income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We've been paying tuition for 4y and I feel like we are drowning. Right now tuition takes up 25% of our net (but mortgage is only 19% - hello tiny house.)

Yes, but you probably do not pay anywhere close to the percentage of your income in taxes that other posters do.

huh? how do you know our income or taxes? I didn't mention how many kids we have in private school - just the percentage we are paying out.

It is elementary my dear Watson. If your private school tuition (25%) plus your mortgage (19%) take up a combined 44% of your net income, and that mortgage obligation only pays for as you put it a "tiny house", then even assuming that you pay full private school tuition for three or four children (which I assume that you do not have, thus the aforementioned "tiny house"), you would be nowhere close to paying the more than 50+% combined federal and state income tax rates that some posters are.

No it's not, Watson, OP said NET not gross. What % of your take-home pay goes to tuition?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is it really worth the stress especially when you live in a good public school district? Seems like some of the kids from both sectors attended the same colleges. I'm about 35% but only doing it because we're in a lousy school cluster.

I'm really surprised at the % people are paying for private school tuition.

We have preschoolers now and leaning towards public. DH and I both have ivy league educations and attended public school. We make about $500k and private school would be about 20% of out net pay.

How long ago did you attend public school and where? Things are different now. First in either side of the family to send DC to private, it would take up 40% of our income if we paid from our income. Instead, I sold investments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Many of us are in lousy school clusters (or entire counties), 07:46. Yes, I know, some aren't, but most people in my DS's independent school are there after trying the public route for the oldest child, deciding it wasn't going to work, and switching. So for me (lousy public option) paying 20% of my after tax income for school, while living in a small crappy house and paying 15% of take home on mortgage, still leaves us with a decent quality of life. The key for us is if we're going to do private we must stay in the small crappy house or else the finances don't work. Since we like the school more than we care about housing it works fine.

Why not just move to a better house in a good school district?

Because my DH works for the federal government. IMHO, there are no good public school districts in the DMV. Public education as a whole is pretty crappy nationwide. NONE of my college friends went to private, but all of us are sending our DC to private schools. It is very frustrating. We would prefer to go public.

[Anonymous]

Anonymous wrote:Last year, after expenses, probably 40% of discretionary take home. Sucks!

That's not bad. At least you have discretionary income. Some of us will be sacrificing nice vacations (hello, camping!) for private.

[Anonymous]

Anonymous wrote:To 10:03 - well, the house was totally underwater for the past few years and just now would be break even, so moving hasn't been an option. But the other reason is that because we live in a small house in a bad school district it is really inexpensive. To move to an equivalent house in a really good school district (i.e. equivalent to the independent school DC now goes to) we'd have to spend an extra $300,000. That just happens to be the amount of money we'll spend on DC's tuition for 12 years. So we can buy the education directly via independent school, or we can buy it indirectly through the public school system. Since we really, really love the school and like our neighborhood just fine it doesn't make sense to move. In no world do we get a large lovely house and a great education, because we aren't well off enough to buy in those neighborhoods. Short answer? Its complicated.

And you really don't know if the public school would serve your child as well as the private.

[Anonymous]

We live in southern PG and our first is attending an independent school this year at 8% of my net and once all three are in school that will be 20% of my net ....this doesn't include my spouse's $60k income.

[Anonymous]

Ours is 17% of net but we only have one in 7th. The 2nd is going public until middle school. Can't afford both.

[Anonymous]

We take home between $10-11K each month and spend $4200 on tuition and childcare for the baby ($2800 and $1400, respectively.) Mortgage is $2100.

[Anonymous]

Anonymous wrote:We take home between $10-11K each month and spend $4200 on tuition and childcare for the baby ($2800 and $1400, respectively.) Mortgage is $2100.

The $2800 is for 2 kids. We are expecting #4 in a few months. Hopefully when we send #3 to the same school, we'll get a small tuition break.

[Anonymous]

50% - I know ouch!!

[Anonymous]

Anonymous wrote:50% - I know ouch!!

Actually about %40 percent sorry and that is for two kids...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Many of us are in lousy school clusters (or entire counties), 07:46. Yes, I know, some aren't, but most people in my DS's independent school are there after trying the public route for the oldest child, deciding it wasn't going to work, and switching. So for me (lousy public option) paying 20% of my after tax income for school, while living in a small crappy house and paying 15% of take home on mortgage, still leaves us with a decent quality of life. The key for us is if we're going to do private we must stay in the small crappy house or else the finances don't work. Since we like the school more than we care about housing it works fine.

Why not just move to a better house in a good school district?

Because my DH works for the federal government. IMHO, there are no good public school districts in the DMV. Public education as a whole is pretty crappy nationwide. NONE of my college friends went to private, but all of us are sending our DC to private schools. It is very frustrating. We would prefer to go public.

If you really feel this way, have you visited any of the public schools and looked at the work the students are doing?