Reply to What kind of income do you need to put 3+ kids in top privates from k-12?

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[quote=Anonymous][quote=Anonymous]Most people who do this likely make $1 million and up.  But there are exceptions. We make $425k and have grandparents that pay for 3 kids.  If we were paying ourselves we would need to make $200k more than our current income so $625k.  We could easily pay for 3 within an income of $625k. The issue being that most people don't want to pay this large a percentage of their income on school, even if that income it's quite large.  
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The thing is that a lot of people who have grandparents help with tuition also have gotten other help from parents (help with down payment, no student loans) so in truth they would have to have more than just enough extra income to cover tuition if their parents had few resources. of the people I know with 3+ kids in private with $40K+ tuition, most have some family help with tuition. Those that don't make closer to $1 million (these are people I know from work so I have a good sense of their incomes) and they did not start private until after elementary. My family makes $650K and I would not feel comfortable paying three Big Three tuitions - even though I currently save enough to cover that tuition each year in non-retirement savings. But I want to have a big base of savings in case of a layoff -- something I wouldn't worry about so much if we had family to fall back on.[/quote]

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