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Private & Independent Schools
Reply to "Payment schedule/plan for private school"
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[quote=Anonymous][quote=Anonymous]Just compare the following : A- interest rate earned on full tuition if you were to put that whole amount in a CD or savings account. Example : $50K @4% is around $2000 B- the discount you get if you pay in full minus the tuition insurance. If A>B, pay monthly installments [/quote] I’ll add that you’re not earning interest on $50K for a year, you’re earning it on $50k declining to $0 over 10 months so it’s only 5 months of interest or 10 months at an average balance of ~$25K. And then you pay income tax on that so lop off another 30-40%. For us the 1% discount was worth more than the interest[/quote]
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