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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]I don't know the answer, but I hope you're right. We're a $350k HHI family with 2 kids in private and feel like it's a struggle to pay tuition every year. If it goes much higher, we won't be able to do it anymore. [/quote] I ask this genuinely, so please don't flame me. We have a HHI of about $165K. The only debt we carry is our mortgage and one car loan. We pay off credit cards every month, max out our retirement investing, and usually have a little bit left over. We would not be able to afford independent school tuition. But if we suddenly doubled our HHI into the range you are, we could easily make it work. So what makes it difficult for you? What are your monthly expenses? What's your mortgage? I'm trying to get a better sense of your position since in addition to being a parent,[b] I'm also an independent school teacher and recognize that I live a very different life than most of the families we serve. [/b] Thanks.[/quote] First, I hope you mena to say you "serve" the educational process or the education of kids, not " serve the families" , right? Second, my guess is a family with HHI 350K is accustomed to certain things in theri lifestyle, such as 3 vacations/year, perhaps a home near in to DC ( in upper caucasia, perhaps) and may also have a nanny or even hefty law school or med school student loans ( typical debt of an MD is 350K after med school). My guess is your student loans are less ? [/quote]
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