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Message
Private School Tuition
Posted on 12/4/13 at 2:16 pm
Posted on 12/4/13 at 2:16 pm
My daughter is 3. She will start private/catholic school in August of 2015. I already have her first year of tuition saved ($4000). Where should I stick this money since th time frame to needing it is about 18 months? I currently have it with CapitalOne360 earning a whopping 0.75%.
Thanks in advance
Thanks in advance
5
Posted on 12/4/13 at 3:34 pm to ThatsAFactJack
Question isn't about private school tuition, its about how to sock $4k for 18 months.
You might find a 18 month CD at a credit union that pays 1.25%, but you aren't going to get much better for short term.
If you are asking about private school, I'd have reservations on a private school that only costs $4,000 a year.
You might find a 18 month CD at a credit union that pays 1.25%, but you aren't going to get much better for short term.
If you are asking about private school, I'd have reservations on a private school that only costs $4,000 a year.
Posted on 12/4/13 at 3:59 pm to anc
ITs a catholic school in Broussard, LA. St. Cecilia School. Its prek-8, not a college. The prek tuition is $4900. I have $4000 already saved up. That is the going rate for catholic schools in Lafayette Parish. Not sure what your point is about the cost.
LINK
LINK
This post was edited on 12/4/13 at 4:09 pm
Posted on 12/4/13 at 4:26 pm to ThatsAFactJack
That's cheaper than in Shreveport. We pay almost 50% more than that here. I would suggest looking at a one year CD or something in that nature. May be able to do alittle better than your savings account. 
Posted on 12/4/13 at 4:36 pm to ThatsAFactJack
quote:
Not sure what your point is about the cost.
Unaccredited school. $4900 is a waste in my opinion. Reputable Catholic schools have their accreditation. That cost threw up a red flag - its cheap. Its cheap because its not accredited. Of course this is my opinion and I know that some might not share it.
LINK
Posted on 12/4/13 at 6:19 pm to ThatsAFactJack
Have two kids there now and one kid at STM that went there. The one at STM is doing great in honors classes. Is St. Cecelia the best in the area? I would say no, but it is more than adequate. Driving into Lafayette to bring kids to school would not be fun. I would not hesitate to send my child there if I were you. Good luck with finding a good return on that money in the short term. I don't have any suggestions for that.
Posted on 12/5/13 at 6:27 am to ThatsAFactJack
IF you want liquid and secure CD is your only real option
IF you are willing to risk a little check with your broker and there are some good options that can net you in the 4% market
IF you are willing to risk a little check with your broker and there are some good options that can net you in the 4% market
Posted on 12/5/13 at 7:14 am to anc
quote:
Reputable Catholic schools have their accreditation. That cost threw up a red flag - its cheap. Its cheap because its not accredited
There are a couple accredited catholic schools in BR that cost less than 5K
Posted on 12/5/13 at 10:01 am to HeadyMurphey
Put it into a 5yr CD at a higher interest rate than the 18 month CD. Get one with only a 3 month penalty. Then in 18 months, take it out with the penalty. You will still make out better than the 18 month rate.
Posted on 12/5/13 at 10:16 am to Sonic Boom
quote:
Sonic Boom
Glad you like St. Cecilia. My old man is the principal there and Fr. Louie is a very close friend of the family. My daughter will be going to St. Cecilia regardless of what the douche bag earlier is spotting about it not being accredited, etc. My old man was the VP at Fatima prior to taking the SCS job so I'm pretty sure he knows a thing or 2 about running a school and having a good curriculum.
Posted on 12/5/13 at 10:17 am to ThatsAFactJack
I would take a different approach, and use the 4k to start a 529 plan for college. If you can't cash flow tuition for private school, reconsider private schools or move somewhere with good public schools. That 4k will grow significantly invested for 15 years as opposed to 18 months.
Posted on 12/5/13 at 10:27 am to anc
I send my son to private catholic school that isn't on that site. I think the teachers and the curriculum and lesson plans are all shite and it makes me want to pull him out. The kicker is that the public schools in my town are worse. The next town over, just across the bridge, has accredited public schools but they didn't offer an out of district price for admission. Maybe we should check into it again.
The plan now is to pull him and send him to the episcopal private school over there, which is also not accredited. Idea being, they at least have competition with the public schools (some of the best rated ones in Mississippi) and if they didn't offer a decent product no one would send their kids there. Shitty logic, but the education my son is receiving from his school is and has always seemed to be a random collection of parlor tricks and nothing resembling a decent foundation. We even held him back in kindergarten for another year of complete bullshite.
The plan now is to pull him and send him to the episcopal private school over there, which is also not accredited. Idea being, they at least have competition with the public schools (some of the best rated ones in Mississippi) and if they didn't offer a decent product no one would send their kids there. Shitty logic, but the education my son is receiving from his school is and has always seemed to be a random collection of parlor tricks and nothing resembling a decent foundation. We even held him back in kindergarten for another year of complete bullshite.
Posted on 12/5/13 at 10:40 am to Ric Flair
quote:
Ric Flair
quote:
would take a different approach, and use the 4k to start a 529 plan for college. If you can't cash flow tuition for private school, reconsider private schools or move somewhere with good public schools. That 4k will grow significantly invested for 15 years as opposed to 18 months.
I can cash flow the tuition for private school. Hell her daycare costs as much as private school tuition. I just happened to have $4000 drop in my lap the other day and figured I'd just sock it away for her 1st year of tuition.
Posted on 12/5/13 at 11:39 am to anc
quote:
That cost threw up a red flag - its cheap. Its cheap because its not accredited.
That is about right on price in this area, my kid's school is comparable in price and is accredited on that site.
Posted on 12/5/13 at 12:44 pm to ThatsAFactJack
Some private schools will give a decent discount to pay tuition in full prior to the beginning of the school year.
My two kids go to private school and paying the tuition up front gives me a 2 percent discount...better than any savings instrument at my disposal.
My two kids go to private school and paying the tuition up front gives me a 2 percent discount...better than any savings instrument at my disposal.
Posted on 12/5/13 at 12:54 pm to ThatsAFactJack
Douchebag here.
Tell your old man to get his school accredited. Its ridiculous not to be. Some people actually look at things like that. If the school is solid, an accreditation from SACS will only make it better and attract new students.
Tell your old man to get his school accredited. Its ridiculous not to be. Some people actually look at things like that. If the school is solid, an accreditation from SACS will only make it better and attract new students.
This post was edited on 12/5/13 at 1:01 pm
Posted on 12/5/13 at 1:26 pm to stevengtiger
quote:
That's cheaper than in Shreveport. We pay almost 50% more than that here
Where, Southfield? St. Joseph's is about the same price from K3 - 8th grade.
/hijack
Posted on 12/5/13 at 8:26 pm to anc
quote:
If the school is solid, an accreditation from SACS will only make it better and attract new students
There's a waiting list to get into that school
Posted on 12/6/13 at 9:00 am to yellowfin
quote:
yellowfin
quote:
There's a waiting list to get into that school
Yes there is a very long waiting list for next year's PreK class. And there are always a waiting list in each grade incase spots open up.
Posted on 12/6/13 at 9:09 am to anc
quote:
I'd have reservations on a private school that only costs $4,000 a year.
I'd have reservations taking advice from someone who thinks you should be paying more than $4k/year to educate a five year old.
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