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Reply to "Is your private having another tuition increase?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Almost 3%. It's really unsustainable, plus the annual fund, auction and miscellaneous. [/quote] 3% doesn't seem unreasonable to me. Let's say you're in a school that's at $35,000 now (not an unreasonable assumption). A 3% increase is about $1,000 a year, so less than $100 extra a month. I hear you that 3% a year for the life of a student is hard to swallow, but for the sake of my example, let's assume you're in that middling income group of folks who make too much for financial aid, but not enough to think that $35,000 is easy to swing. I'll just pull a number out of thin air - $200,000 annual HHI. Maybe you're a couple of feds - GS-14s for example. Sure, the last five years have been tough, but the adjustments have been coming, 1% a year over the last two years. Obviously you're not swimming in dough, but your income is going up. A 1% increase covers the 3% increase in tuition, even after taxes. Again, it isn't ideal and you're not living in the lap of luxury, but you want to make the sacrifice for your kid. Of course, maybe you've had enough and a few years of 3, 4, 5% increases will be what pushes you back to public. That's a legitimate path to take. But all of the uproar over unsustainable tuition increases simply ignores a long history of such increases and while some schools took a hit during the recession, there are still plenty around and I don't see any of the $35k to $40k a year schools suddenly losing students in droves. It is manageable and sustainable over the long run. Will there be families who get priced out along the way - yes. Will there be families who cut other places to make it work - yes. Will independent schools keep raising tuition like they have for decades - yes. [/quote] Your opinion is unfortunately countered by the facts and leadership in the industry. See article posted by 14:57 on 1/28/15. I used to work with a bunch of people who said that, "house prices could never decline year over year on a national basis". Their support for this argument, that t had never happened before. Nice![/quote]
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