Reply to HHI for people who send kids to private

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote] I would caution you about private, because it creates a stressful situation to make those monthly tuition payments out of your HHI. Many student have their tuition funded by grandparents. [/quote]

Grandparents paying tuition has almost risen to the level of urban myth. Sure, there are some kids at the Big3 my kids attend whose grandparents pay or help, but they are certainly the minority.  I say this knowing there are more kids than I know being funded by grandparents; most parents are paying themselves.[/quote]

This is true. My kids have been in private since 3yrs old, now middle school and highschool. Most of their parents pay (some at great sacrifice). Most parents also have high HHI. Of my 4 kids' friends and all the parents I know through them, my guess is less than a handful have any support whatsoever from grandparents.

Perhaps speculating about grandparents bankrolling tuition makes people feel better about themselves or their personal financial situation?[/quote]

I don't know, I work with a lot of people with high incomes with kids in private school who I assume pay for it themselves because I know their payscale and know they make $500K+. I also have a lot of friends through my kids former preschool who send their kids to private schools and who I either know or suspect are getting help with tuition from grandparents. These are people in couples where one parent works for the government and the other stays home and they live in a modest house in Chevy Chase or AU Park and have three kids at a Big 3 school and send them all to fancy sleepaway camps and take nice vacations. When I have talked to them about schools and pros and cons of public vs private they never say anything about being lucky to have gotten financial aid or that paying tuition is a sacrifice but it is worth it (while I hear that all the time that private is a sacrifice but worth it from my friends at work). In some cases these friends have mentioned trust funds, in other cases they haven't but I know they went to private schools themselves and regularly spend the summer at their parents' place in Maine/Nantucket etc. I guess it is possible these people are just good investors or won the lottery - but grandparent help definitely seems like the most likely scenario. I don't think there is anything wrong with it - I hope to be able to do this for my grandchildren - but I do think this definitely isn't uncommon, especially in some circles (I tend to run in the Jewish intellectual non-profit crowd).[/quote]

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