Poor People - Why did you choose private?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"Poor" mom of 2 high schoolers - With a small child support payment from their biological dad - This year, I am borrowing fully from my retirement, and we are pretty much consumed with regular Ramen & Spaghetti dinners in order to pay tuition at private school for my two children. I own my home by myself & the public school option in Prince George's County is THAT disturbing - I know it well, my stepson went there for 2 years (my husband of 3 yrs and his son moved out last month for the purpose of sending his son to a different public school - his mom doesn't pay support and this will be the arrangement until the end of next school year because he'll be a senior). My financial aid award was a total of $10k and $16k is my responsibility. Already thinking of how to pay the year after - may sell house but need to build equity first or it won't cover it.

Not gonna tell you how you should live your life but that's just about the dumbest thing i've heard..

We're doing this too. Don't see what's so dumb about it. Kid couldn't go to private if we didn't.

it's dumb because you are sacrificing your retirement. how will you fund your retirement?

Personally, I took out a 1% interest loan against my retirement that I pay it back in installments for the next 3 years. I still make my retirement contributions every pay period and understand that this decision to borrow will cause me to get double taxed on the amount that I borrowed from when I retire in 18 years. I can easily calculate the amount of the extra tax and add more time to my tenure to balance the risk. I am a "single" mom and put a lot of thought into this. It is worth the alternative.

...and from an earlier question about moving/renting in a different area with a better public school system - I've considered it, but the gain from the equity building on my house works in my favor and everything that I'm putting into the tuition payments now should also balance out 5 years from now; if I don't sell it sooner. Renting/without tuition versus building equity/paying tuition; I'll keep the house for now.