How do people afford private schools?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

It is very embarrassing. Why go to great schools and not do sh!t?? That's what no one wants to talk about. My parents clearly explained the expectation to us. The statement was "Our money is not yours. We are here to guide you to be successful and functioning independent adults. Sponsor is not in our title."....We heard it loud and clear..

Haha. If you have money, it’s not embarrassing. I would imagine that most people on here who have grandparents that pay, can also afford it.

[Anonymous]

For us it’s smaller house, older cars, and basically shifting spending from one column to another.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

Not embarrassing. It’s a way for them to funnel money tax free. My HHI is $435K, tuition is $50K. I know we can afford to send our 1 child but it would be tight. And we wouldn’t be able to save much more. And we have a “cheaper” house in DMV and one car.

It is embarrassing, and as you brazenly admit, is tax evasion. One more rip-off the rich achieve for themselves.

Except that it is not tax evasion. It is following the tax laws. The reason this was created was so that other people could help fund the education of students. At the time Congress thought that a worthwhile goal. Seems you disagree. But completely legal and even encouraged by the government. If you don’t like it, petition your congressperson to change it. This was pushed by democrats by the way as a way for other family members help families.

It is certainly it embarrassing because no one would ever know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WWJC what would Jesus charge for tuition. Happy Easter. Rich people suck and should be shamed.

You do realize the Catholic Church is the richest institution AND the Vatican is the richest nation state in the entire world right. By your logic Christians should shame themselves. Oh, should probably also mention all the abuse of children Christian organizations hide and cover up. SHAME, SHAME SHAME! Happy Easter.

You need a history lesson:

http://historyreviewed.best/index.php/video-jews-infiltrated-vatican-changed-catholic-church/

Nope, I was talking about TODAY not historically. TODAY the Vatican is the richest city state. TODAY the Catholic church is the richest institution. I don't need a history lesson. You might need a reality check though.

[Anonymous]

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

It is the point.

But

Lemme ask you this - who will get your money when you die? Most people would rather it go to their children than the Federal government. This is an easy way to pass it tax free. I wish my parents did this, maybe one day I will do this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

No. This is a way to distribute wealth. I have a friend whose parent pay for three kids. Pay for vacations too. Parents are both biglaw partners. Could pay but they get to do other things with that money. Good way to get around death taxes at least to some extent.

So, you’re “distributing wealth” by taking their money and shoveling it into a hole for 13 years, when free public schools are available next door. They could have just gifted you money every year up to the gift tax limit. You’ve actually lost an enormous amount this way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

It is very embarrassing. Why go to great schools and not do sh!t?? That's what no one wants to talk about. My parents clearly explained the expectation to us. The statement was "Our money is not yours. We are here to guide you to be successful and functioning independent adults. Sponsor is not in our title."....We heard it loud and clear..

And supposing your parents have nest egg left over, are they leaving it to you or charity?

Also, salary =\= contribution to the world.

I don't have a dog in this fight as my kids attend public school. However, I disagree with you that early a salary does not make any contribution to the world. They are making big money and on that they are paying heavy income taxes + property tax on their big home etc. They are productive members of society, they are not takers but rather contribute a lot via all sorts of taxes. All your beloved social programs, schools, social services are being funded by such high earners (way more than low earners). As for what they do with their money, it's totally their call, they don't owe any charity anything.

Liberals are very quick to judge wealthy people, well, wealthy are funding your social programs and freebies. Next time, don't bite the hand that feeds you??

[Anonymous]

^earning not early

[Anonymous]

Anonymous wrote:Its a luxury good to people who go are rich enough or have rich enough families.

This response sums up all debate on this thread. I would love to have my entire wardrobe fitted by Chanel but I can't afford it, so I don't get to wear Chanel. That's how the world works.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

No. This is a way to distribute wealth. I have a friend whose parent pay for three kids. Pay for vacations too. Parents are both biglaw partners. Could pay but they get to do other things with that money. Good way to get around death taxes at least to some extent.

So, you’re “distributing wealth” by taking their money and shoveling it into a hole for 13 years, when free public schools are available next door. They could have just gifted you money every year up to the gift tax limit. You’ve actually lost an enormous amount this way.

They might also be gifted money too. There is a limit on how much you can gift and paying for school directly doesn’t count towards that. I know families that will gift their kids country club membership or pay the yearly dues. If the grandparents can afford it, these are very nice things to do. The money is going probably to the kids anyway after they die. It’s a way to help get them money when they’re alive. Plus paying for family vacations is also great for the grandparents to get to enjoy a vacation with their kids and grandkids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

It is very embarrassing. Why go to great schools and not do sh!t?? That's what no one wants to talk about. My parents clearly explained the expectation to us. The statement was "Our money is not yours. We are here to guide you to be successful and functioning independent adults. Sponsor is not in our title."....We heard it loud and clear..

And supposing your parents have nest egg left over, are they leaving it to you or charity?

Also, salary =\= contribution to the world.

I don't have a dog in this fight as my kids attend public school. However, I disagree with you that early a salary does not make any contribution to the world. They are making big money and on that they are paying heavy income taxes + property tax on their big home etc. They are productive members of society, they are not takers but rather contribute a lot via all sorts of taxes. All your beloved social programs, schools, social services are being funded by such high earners (way more than low earners). As for what they do with their money, it's totally their call, they don't owe any charity anything.

Liberals are very quick to judge wealthy people, well, wealthy are funding your social programs and freebies. Next time, don't bite the hand that feeds you??

You misunderstood my point. The poster before me said "Why go to great schools and not do sh!t??", as though letting the grandparents pay tuition means the parents are slackers.

There are quite a few people living off family money and doing really interesting and useful-to-the-world things. There are some who are not. There are people who make a lot of money and are assets to society. There are people who make a lot of money and who are not. etc.

There is a lot to proud of for someone who goes to great schools and "does shit", but that doesn't mean that people who go to great schools and don't bring in enormous incomes are necessarily lame. Salary is a bad way to judge people's worthiness.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

It is very embarrassing. Why go to great schools and not do sh!t?? That's what no one wants to talk about. My parents clearly explained the expectation to us. The statement was "Our money is not yours. We are here to guide you to be successful and functioning independent adults. Sponsor is not in our title."....We heard it loud and clear..

Your parents come from the lower classes, or at least have a working class mentality. Not everyone does.

[Anonymous]

Anonymous wrote:HHI ~400k

2 kids

No family help

Old, inexpensive cars

Cheaper house, low mortgage

Limit big vacations every 2-3 years

Your first line was the whole explanation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

No. This is a way to distribute wealth. I have a friend whose parent pay for three kids. Pay for vacations too. Parents are both biglaw partners. Could pay but they get to do other things with that money. Good way to get around death taxes at least to some extent.

So, you’re “distributing wealth” by taking their money and shoveling it into a hole for 13 years, when free public schools are available next door. They could have just gifted you money every year up to the gift tax limit. You’ve actually lost an enormous amount this way.

DP

... you have myopic thinking.

Money comes and goes; an education is with you for life. I'd rather my kids get an education than an annual "gift". Public vs private schools are the equivalent of fast food hamburger vs prime steak. Both address hunger, but I would rather have steak. Catholic schools are anywhere in between, depending on the school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Grandparents pay? Isn't it kind of embarrassing to be financially dependent on your parents in your 40s and 50s? Especially if you went to a top 20 college or university. With that caliber of education, shouldn't you be set for life? I thought that was the whole point.

No. This is a way to distribute wealth. I have a friend whose parent pay for three kids. Pay for vacations too. Parents are both biglaw partners. Could pay but they get to do other things with that money. Good way to get around death taxes at least to some extent.

So, you’re “distributing wealth” by taking their money and shoveling it into a hole for 13 years, when free public schools are available next door. They could have just gifted you money every year up to the gift tax limit. You’ve actually lost an enormous amount this way.

The public schools and the private ones are not equal, so that a moot point.