Reply to HHI for people who send kids to private

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[quote=Anonymous][quote=Anonymous][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]

This.[/quote]

Of the parents that I know in private, about 1/2 either have grandparents pay directly OR were gifted trusts/inheritance/parent gifts earlier in life. I don't think the family money idea is urban legend at all. It is the #1 reason why people get ahead in life. [/quote]

In NYC this is definitely true.

As I've gotten only... a realize the family money idea isn't just an idea. It's a reality for a small group of people in this country.

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