Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:This is kind of a silly question. Most parents choose to not drop 40k a year on private school when there is a good public school option. There are benefits of going to private school, but for most those benefits aren't worth hundreds of thousands of dollars.
Many kids have grandparents paying (I'd say most of the alumni kids and many others) and there are tax reasons for doing this. We have two kids in private and my husband and I earn $150,000 a year (there is absolutely no way we could drop $80,000 on tuition).
correct.
Does having the grandparents pay for the legacy kids suggest the legacy kids aren't well off enough on their own to afford it, or that their parents were simply wealthy then and remain wealthy now?
I think it would vary between families, but I would bet that mine is fairly common. We can afford a very nice life, but private school would be a big stretch ($250k hhi). Not impossible, but not ideal. We save a lot, and we will have enough for a nice retirement, and could likely swing college if necessary. My parents were in a similar position when I was a child, but housing and school costs were lower. They have since continued earning and saving and had some inheritence and now have quite a nest egg that will be passed down at some point. Paying for schools is a tax-advantaged way to pass it down. We do not count on any inheritence, however, and would likely follow a similar trajectory where any inheritence would be an unnecessary windfall. So, yes, they have more money now, but that is more because of stage of life than anything else.
Anonymous wrote:We pay full-freight so we don't sit around and mull over such inconsequential issues. If you can't afford go elsewhere. Not our fault your work 40 hours and get paid for 40 hours.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:This is kind of a silly question. Most parents choose to not drop 40k a year on private school when there is a good public school option. There are benefits of going to private school, but for most those benefits aren't worth hundreds of thousands of dollars.
Many kids have grandparents paying (I'd say most of the alumni kids and many others) and there are tax reasons for doing this. We have two kids in private and my husband and I earn $150,000 a year (there is absolutely no way we could drop $80,000 on tuition).
correct.
Does having the grandparents pay for the legacy kids suggest the legacy kids aren't well off enough on their own to afford it, or that their parents were simply wealthy then and remain wealthy now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:This is kind of a silly question. Most parents choose to not drop 40k a year on private school when there is a good public school option. There are benefits of going to private school, but for most those benefits aren't worth hundreds of thousands of dollars.
Many kids have grandparents paying (I'd say most of the alumni kids and many others) and there are tax reasons for doing this. We have two kids in private and my husband and I earn $150,000 a year (there is absolutely no way we could drop $80,000 on tuition).
correct.
Anonymous wrote:Check out Sheridan, if you like Lowell. Similar philosophies, but there are differences. We liked both and ended up at Sheridan.
Anonymous wrote:Anonymous wrote:This is kind of a silly question. Most parents choose to not drop 40k a year on private school when there is a good public school option. There are benefits of going to private school, but for most those benefits aren't worth hundreds of thousands of dollars.
Many kids have grandparents paying (I'd say most of the alumni kids and many others) and there are tax reasons for doing this. We have two kids in private and my husband and I earn $150,000 a year (there is absolutely no way we could drop $80,000 on tuition).
Anonymous wrote:But perhaps someone who is 'spiritually full' has fewer bills because he or she does not feel that it's necessary to buy a bunch of material crap, fancy car, fancy clothes, consumer goods, etc. Of course, he or she does have pay for food and housing and healthcare, but beyond that ...