Reply to Sidwell tuition increase

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]From the Bureau of Labor Statistics:

Total compensation costs for private industry workers increased 2.5 percent in the Washington-Baltimore-Northern Virginia, D.C.-Md.-Va.-W.Va., metropolitan area for the year ended September 2017 the U.S. Bureau of Labor Statistics reported today. . . . [u]Locally, wages and salaries, the largest component of total compensation costs, advanced at a 3.3-percent pace[/u] for the 12-month period ended September 2017. Nationwide, total compensation costs rose 2.5 percent over the year and wages and salaries advanced by 2.6 percent.

Private schools are people intensive businesses.  Comp costs drive the tuition raises.  Add in campus improvements and tuition rises even further.

Will every parent see the same rise in wages and salaries?  Of course not.  And that's a shame and I feel for those that are in that position.
[/quote]

+1 to this; thanks for sharing actual facts

Also, schools will tend to be above average in annual increases.  For public schools they follow the union-negotiated scaled which usually involves a step increase annually (which is usually in the 2-5% range) plus a cost of living adjustment for inflation.  If private schools want to be able to compete for good teachers (particularly in a tight labor market like we see now) they have to match these annual increases.

I totally understand not liking the increases and being concerned about affordability.  Believe me, the administration and boards of these schools share your concerns.  But so far no one has come up with a solution.  If you have a solution that allows them both to maintain their current programs and maintain their ability to hire good teachers without these tuition increases, please, share.[/quote]

One solution is to decrease the huge financial aid budget.  Currently SFS has $7 million annual FA budget; 23% of students receive FA and the average FA award is $ 26900.  Certain amount of FA is good and necessary to attain the talents and maintain a diversified student body.  But such a large amount the school currently gives out is not necessary, in particular when many full pay hard working families are struggling with the increase.  I thnks the teachers  deserve to receive good benefits and an increase in salary, but many families on FA do not deserve.  SFS should have no issue to maintain a good diversified student body with significant cut to the FA budget.[/quote]

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