Reply to Can we afford private?

Forum Index » Private & Independent Schools

Reply to "Can we afford private?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]OP -- We all want to find what is best for our kids but the simple fact is that private schools are an enormous financial commitment.  I know if your child's health and happiness  depended on it and you though private was the answer you would swing it, but nothing in your post remotely suggests that urgency.  I have two in private -- figure about $35,000 each for high school average at most DC area independent schools (parochial are less) for upper school -- that alone is 280,000 per year for two kids in high school. In many privates, you also pay for books, some have computer fees, bus fees, graduation fees, etc. -- in reality two kids starting today at a private in 9th will cost over $300,000 in today's dollars.  Now elementary costs less -- I don't know these days, maybe $20-25,000 - middle school maybe more?  We're talking K-8 (9 years) x 2 kids = 18 years -- that's at least another $360-$450,000.  So basically for k-12 private school for two kids is probably close to three quarters of a million dollars. None of that is tax deductible as if you bought another house and over 13 years for even one child that doesn't account for the lost value of not having invested the money, so now we're really talking about a commitment that will effectively cost you almost certainly over a million dollars -- maybe quite a bit more - for two kids starting out today.  Start with public, and then see.  Our oldest changed in 2d grade --it was fine.  I personally think middle school may be the best time to go private -- better academics than at most publics, an emphasis on preparing kids for high school, and teachers who are really involved with the kids to try to help them through it in one piece.  My kids are in private -- and we are very happy with the school -- but it is a huge commitment and our HHI is higher than yours. At your HHI, I wouldn't do it unless I was sure public wouldn't work out.  If the kids have grandparents to save for college, that's great for them now.  But will you be able to do that for their children -- your 
grandchildren -- if you pay for private now?  I don't want to sound discouraging, but really anyone in your situation has to really, really think about it. [/quote]

I am OP, and appreciate the response.  I am aware of the math, but i take your point to be that if you werein my shoes, you would give public a good try first.  I agree that makes sense.   We will change by middle school for sure, because i am not hearing good things about our middle.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics