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Private & Independent Schools
Reply to "How do people afford it? "
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[quote=Anonymous][quote=Anonymous]I’m a fed, DH works at a non-profit. We make 310 combined. 750k mortgage. No other debt. We want to send our two kids private, but at $40-50k a year per kid it doesn’t seem possible. Is there anyone in our situation that actually found a way to make this work? [/quote] When DS started in K we had a $500k mortgage and $250k HHI. It was one kid and we could do it. We did not qualify for FA. Private was around $35k. Since then our HHI has grown (over $600k) but so has tuition (up to $50k). I would not tap into home equity for private K-12 and not sure it would pay for their entire schooling x 2 kids plus your mortgage will be higher. If you have strong publics, I'd send them there and try to save as close to what you would've paid for private in a college fund for each of them. Then you won't have the pressure of *having* to pay that out if you hit a tight month. [/quote]
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