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Private & Independent Schools
Reply to "Question on High Tuition…"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have a quick question. Normally if there are monopolistic practices that are detrimental to consumers you could file a claim at the federal trade commission or the office of consumer protection in dc. Is there anything similar for schools, or in essence they are free to charge anything they want. This is genuine question. Thank you. [/quote] One way or another (unless you have diplomatic status), you already are paying for your kid’s education in the public school system, so if you are sending your kid to private school, you are voluntarily paying extra for that. You don’t have to. You also “buy” private school education by the year. No one is required to buy 13, 7 or 4 (or even 2) years of it. Your kid’s private school isn’t committing to sell it to you next year, either. Hundreds of thousands, if not millions, of kids switch schools every year. Your kid can do that, too, if you don’t like next year’s price. Anyone surprised by increases in tuition every single year hasn’t been paying attention. You don’t need to rely on some seemingly unmotivated government agency if you think private schools are engaged anticompetitive practices. Find a good plaintiffs law firm willing to file a private antitrust class action. You might be able to get treble damages or at least enough from a settlement as the named plaintiff to pay for your kid’s college tuition and your retirement. [/quote] First of all. The vast majority of kids stay in the same school most of their education if they can because it is costly to find a school that is a god match for the kid. So yes, it desirable to have a tuition that is predictable over time and not increasing consistently above let’s say wage inflation (which is higher than cpi inflation) . Second, the lawsuit is not a bad idea but a bit expensive. If had the money I rather bribe the rest of the board members of the schools to pass budgets based on needs not wants. The question I would ask is the following: If we need to invest one extra dollar that would request a higher tuition, is that dollar going to objectively improve the quality of education of the kids such that the investment is worthwhile or it’s just something that would improve the reputation of the board? There is something about schools corporate governance that is off.[/quote]
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