$25K for PK

[Anonymous]

DC has been admitted to the only school we applied to for the 2010-2011 school year. We love the school, but for whatever reason, we thought it was ~$18K per year, which, while not cheap, is only about $4K more than what we are paying at his current preschool. $10K more is a lot, especially since we are trying to agreesively pay off our debt. We really think the school is a great fit for our family, and technically, we can pay for it, but $25K for preschool ($50K BEFORE kindergarten and I won't even begin to go into summer camp costs...) sounds crazy. Most of my friends with children live in another part of the country, where spending this kind of money would, hands down, be percieved as over the top insane. So, I'm asking this community: would you do it?

[Anonymous]

Not if you already have debt you are trying to pay off. Good debt is fine: mortgage, student loans. But if you're trying to pay off credit cards, I'd say no way.

[Anonymous]

I would have to be very wealthy to even consider such a thing. I'm talking living in a 5 million dollar house (at least 50% equity) before I'd pay that much for preschool.

[Anonymous]

Do you need it for childcare? We paid almost that much but figured that it wasn't much more than paying for our nanny plus some kind of early childhood education classes (which is what we would have done if we didn't take the school place). It all depends on what you are comparing it to. So if you don't take that spot, what would you do instead?

[Anonymous]

If I were you, I'd look for one of the good daycares that have preschool for pre-K, and go year-round, then put the $10K you save into a college fund or pay off your debt or save for future summer camps. It's pre-school! How much more could your child possibly learn (or appreciate) at this pre-school than at others?

[Anonymous]

I don't any debt except a mortgage and I wouldn't unless it was the only option and then I wouldn't have a choice.

[Anonymous]

Are you planning to go public starting in K? If so, I wouldn't pay so much for preschool. If it is a private school you want starting in K, then I might consider paying the high preschool costs as a placeholder for the school in later years.

[Anonymous]

We paid about $26 or $27k for preK and I thought my child had such a wonderful experience and opportunity for emotional and social growth that it was worth every penny. But agree with pp that if you have credit card debt, then don't.

[Anonymous]

I think it depends on where you plan to be for elementary school. If the school you've applied to is going all the way through and it's a tough school to get a spot then you might have to just pay it. But if this is just a school for prek and k, and you plan to go to public or a different private then don't do it. But really only you and your family can really make the call. Can your little one stay where they are another year?

[Anonymous]

OP here. We both work FT, so we do need year round, full time care. Not sure what we would do if we chose not to enroll at this school, since we have already notified our current school that we will not be returning. Probably a nanny share. We are not considering public school for K, and fully intend that DC will go private. What we really have to decide is whether delaying the expense to give ourselves more financial breathing room is worth possibly not being able to get into the school of our choice in 2 years.

[Anonymous]

Do you have to enroll in pre-K for two years, or can you put it off a year?

[Anonymous]

There is nothing more important than your child's education, other than their health. Just remember that. My family sacrificed to send me to an "elite" private school 30 years ago which has changed my life and also their life in so many positive ways (including my very high-paying jobs which even made it economically sensible for them to have spent the money in the long run). It was high school, not preK, but the same philosophy applies. If you can't afford it, you can't afford it. If it means used cars and smaller houses and cheaper hotels on vacation, it's a no-brainer.

[Anonymous]

First, if you have serious credit card debt, student loans or car payments, you should pay that down asap. Second, as a PP noted, what else would he or she be doing?? How many kids do you have?? FT and even PT nannies can be just as expensive. So, if you avoid nanny expenses and can arrange work schedules for drop off and pick up, it might not be any more money out of pocket. Most schools have before and after care for emergencies and working families. So, you might need to add this cost in. Third, finally, if the PK really cost $26K, I am assuming it is one of the better private schools in the area. If you turn it down this year, you will not be admitted next year. The competition is too tough, and your explanation (though no doubt genuine) will create no real sympathy. In another words, it may be now or never at least at that school.

[Anonymous]

I agree with 13:59 ... you won't get a second chance so consider it carefully. I agree it is a lot of money, but if $18k was okay for you then maybe $25k is too. ??

[Anonymous]

If you are talking about GA, there will probably be a spot next year.
Don't do it. Go back to your current school and ask to come back next year.
Also, why were you so off with the tuition?