Boarding school is about $50,000/year right now. Considering how quickly tuition has risen, by the time today's infants are ninth graders, it could easily be $70 or 80 a year.

If you are talking about top flight privates + boarding + private college, it's possible a million might not do it.

I thought $1mm was a good number.

Many day schools in DC are currently 38,000 and they go up about 4-5% every year.

Child is an infant and you're assuming private school?

Please understand that your child may not get accepted to a private. Yeah, it could actually happen.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$1MM and if that won't do it...tough.

You would set aside $1M right now? I'm wondering how much to set aside now assuming a conservative rate of return. Surely it's less than that.

Set aside the entire $1MM now? Not so sure about that. I get a high rate of return on private investments (15-20%) and wouldn't want to remove that much working capital. You need to put that money to work since you have so many years ahead.

Sounds risky. Are those likely over a 22 year time horizon? Plus you will start to draw down funds in only 4 years so you need to factor that in to your returns.

Maybe less than $1 million since it sounds like you are looking at super cheap elementary. Is that parochial?

Anonymous wrote:Anybody willing to throw out a number?

You mean other than the two of us that did already?

We don't plan on private school until middle school (in NYC not DC) and expect to pay: ~50K a year for 6, 7, and 8the grade and 70K a year for high school/boarding school. For college, 80K a yr. DC is currently in 1st grade.

DS is probably fully funded for college. Currently, ~130K in his 529. We expect to pay for middle and high school out of savings so are not funding it since there are no similar tax vehicles like a 529 and yes, we have a Coverdell.

Anybody willing to throw out a number?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$1MM and if that won't do it...tough.

You would set aside $1M right now? I'm wondering how much to set aside now assuming a conservative rate of return. Surely it's less than that.

Set aside the entire $1MM now? Not so sure about that. I get a high rate of return on private investments (15-20%) and wouldn't want to remove that much working capital. You need to put that money to work since you have so many years ahead.

Pretend you are a grandparent wanting to fully fund the private education of an infant and are putting the money into a trust. How much would you set aside now to attain that goal?

Anonymous wrote:

Anonymous wrote:$1MM and if that won't do it...tough.

You would set aside $1M right now? I'm wondering how much to set aside now assuming a conservative rate of return. Surely it's less than that.

Set aside the entire $1MM now? Not so sure about that. I get a high rate of return on private investments (15-20%) and wouldn't want to remove that much working capital. You need to put that money to work since you have so many years ahead.

Anonymous wrote:$1MM and if that won't do it...tough.

You would set aside $1M right now? I'm wondering how much to set aside now assuming a conservative rate of return. Surely it's less than that.

Forecast for college is $100k a year. Assume half a million there when your add in incidentals. ~$30k for another 18 years, assuming private, round up to $600k. Call it $1.1M.

I think most day schools around here are over $25k and possibly could be over $30k when your child is school age.

$1MM and if that won't do it...tough.

Can someone help me figure out how much money I would have to put aside in a lump sum today to fully fund a private education, K through 4 years of college? The day schools we would be considering are currently $12-20k/year, I'm guessing $40-50k for boarding school and $50-60k for college. How much would you set aside now to reasonably consider the child's education fully funded? Child is an infant now.