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Private & Independent Schools
Reply to "When will Private Schools' bubble burst ?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] the 990's posted are 5 years old. They don't inform anyone of what is going on today. Tuition has nearly doubled since the period those old 990's reflect. [/quote] Someone keeps posting this. Which of these schools charged only $16,000 five years ago? [/quote] In 2006-2007 the St. Albans tuition was $26,000. http://www.washingtonpost.com/wp-dyn/content/article/2006/04/02/AR2006040201369.html This upcoming year, 7 years later, it will be $37,000, for an increase of $11,000 over a seven-year period. Tuition in 2008 at Sidwell Friends was $29,400 for the Upper School. This year it was $34,400, for an increase of $5000 over four years. Under Ad Hominem Hover McRant's argument, tuition at St. Albans should be over $52,000 next year, and tuition at Sidwell something like $50,000. [b] I don't know why he/she does not use the revolutionary tool called "Google"[/b] before making statements so clearly provably false. It undercuts her/his main point (which many agree with), which is that the rates of increase, if not as Brobdingnagian as she/he claims, are not sustainable in the long haul.[/quote] Because the tuition/fees which google can gather are already out of date. You see, tuition goes up 4-6% EVERY year, which you would know if you had a child in Private school. Why are you dogging this thread when you clearly don't have a child enrolled in any of these schools ? You are repeatedly minimizing a fact that is very difficult for parents who DO HAVE kids in Private school. Here's a challenge: since you cannot refer to next years' tuition in your DC's contract, find a SINGLE YEAR in the past 10 years, where tuition DID NOT increase. Find one.[/quote] You are interesting -- whenever someone calls you out on one of your exaggerations you just change the subject and make a new assertion. [list]You said you wanted more details about expenses, including some specific salary information. When you were directed towards 990 filings, you said the posted 990s were 6 years old -- they are 2 and 3 years old.[/list] [list]You said all the schools have $40 million in annual revenue and could not substantiate that for even the largest schools.[/list] [list]You said tuition had doubled since those 990s. Okay, you didn't look carefully at them (because you said they were 4-6 years old), but the above post that [b]you yourself quote[/b] shows that tuition did not increase anywhere close to 100% (which is what doubling is, FYI since you appear to be numerically illiterate) at two of the more expensive schools in the 4-6 year period you appear to be referencing.[/list] [list]You said all the schools have enrollments over 1000, but ignored the lengthy list of schools (St. Andrews, Georgetown Prep, Georgetown Visitation, St. Albans, NCS, Maret, Landon, Holton Arms, Bullis, just to name a few) with far lower enrollments.[/list] [list]You made up your own gross revenue figure by multiplying enrollments at Sidwell and GDS (two of the three biggest schools in the area) by the listed tuition, and ignored financial aid altogether in this "calculation."[/list] [list]You assert that all schools can and do raise $10 million per year in capital campaigns, when many prominent schools in this area (Bullis and Landon, to name two) have endowments under $10 million total.[/list] [list] You assert that anyone who disagrees with you must not know anything about private schools, yet you don't seem to know anything about annual giving or development in general.[/i] So now you finally just assert that tuition has been going up 4-6% each year at private schools. [b][/i]Allelujah![/b][i] You finally posted something accurate. Why did you not just start there and avoid getting derailed by the other side arguments? I guess because you don't really want to think about why tuition is going up, and have meaningful discussions about comparable costs in the public sector (the excellent series of posts looking at per pupil costs with and without state aid) or where private schools could make cuts to preserve their sustainability -- you ignore or derail every post that gets into detail -- you just want to complain. Got it, complaint registered. No thanks for taking a pretty interesting and intellectually balanced discussion off the rails, though.[/quote]
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