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[b] it creates a stressful situation to make those monthly tuition payments out of your HHI. [/b]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]

Disagree.  I know quite a few people at the top privates in the DC area, where the grandparents pay tuition directly to the school.  (There is some tax advantage to paying the school directly, in that it does not count toward the annual gift limit of approximately $18,000 per person per year.)

Or if the grandparents are not paying, often the parents are paying out of investments, and not necessarily out of HHI.  So just asking about HHI and tuition makes me realize that the OP perhaps should be cautious. Every year, it seems that there are people who need to leave when the tuition costs become too burdensome.[/quote]

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