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Private & Independent Schools
Reply to "Private school -- what portion of income are people spending?"
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[quote=Anonymous]Private school is definitely luxury expense. DD's now in college, but when she started in JK we decided it was affordable because it cost less than 10% of our gross income. Back then, tuition was under $20k. By the time DC was a senior, tuition was about $45k. But, our earnings grew faster than tuition and we were paying a much smaller share of our income. If our earnings didn't grow that much, we would have switched to public for high school in order not to stress about college expenses ($75k!). Neither our house nor our cars would wow anyone, so we probably could have easily stretched it to 20% of gross if we had two kids. [/quote]
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