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Reply to "Private school is a terrible ROI for middle class people"
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[quote=Anonymous]Private school in DC averages $28,000 a year or around $2,350 a month per child. At current interest rates that equates to around $200,000 on your mortgage, so if you can find a house in a worse school district for less than $200,000 (per child) you're better off going private. And that's just napkin math, really you save even more with private because you're likely paying that extra mortgage for 30 years and only paying private school tuition for 7-12 years depending on if your school district has decent elementary. So for instance if you buy a $500,000 house in Hyattsville and go private from grades 6-12 you pay like $210,000 in tuition, but if you buy a $1.3MM house in-boundary for Jackson-Reed, Moco, Arlington, or Fairfax you're paying $772,000 in extra mortgage over the same period. [/quote]
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