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Private School percentage of gross income?
Posted on 12/7/24 at 6:07 am
Posted on 12/7/24 at 6:07 am
I want the best for my kids as any parent would and in my area there are two tiers of private schools. One would be 1% of my gross income per child, the other would be close to 4% per child. Would it be irresponsible to spend 12% of my income on k-8 for my kids? Wife and I would still be maxing out 401k, contributing to 529 for college, but it would prevent any outside investing and depending on how the market acts, maybe have to work an extra year or two.
19
Posted on 12/7/24 at 6:27 am to JL
Is the quality of the schooling that much better at the 4%? You should be able to ask the schools for graduation rates and what % of the student body goes to college. So much of your child’s education & outlook will depend on your home life, not sure if it’d be worth the extra cost for the super expensive school.
This post was edited on 12/7/24 at 6:32 am
Posted on 12/7/24 at 6:46 am to JL
Private school costs me about 9.7% of my gross income between 2 kids.
That's not including all of the monthly/yearly sports fees, fundraisers, uniforms, lunch, etc...
That's not including all of the monthly/yearly sports fees, fundraisers, uniforms, lunch, etc...
Posted on 12/7/24 at 6:48 am to JL
quote:
JL
I want the best for my kids as any parent would and in my area there are two tiers of private schools. One would be 1% of my gross income per child, the other would be close to 4%
Genuinely curious around all the details. Either those schools are extremely cheap and subsidized some other way, or you are making bank.
In my area, I don't think you can find a private school for under 20k ish a year.
Posted on 12/7/24 at 7:26 am to Lsut81
Wife and I do well. Houston area, top tier are $25-30k for K-8 and standard catholic schools are $10-13k. They probably learn the same stuff, but the top tier schools are far ahead on extracurriculars and the after school programs are amazing. The top tier for K-8 also have an easier path into the top tier high schools in Houston then top tier colleges. Ex, kids at these schools don't have any problems getting into private colleges or top state schools (UT/A&M). Lots of good kids from the public schools in the suburbs don't always get into UT/A&M because of limited spots and the texas top 5% requirement.
This post was edited on 12/7/24 at 7:29 am
Posted on 12/7/24 at 7:33 am to Lsut81
quote:
Genuinely curious around all the details. Either those schools are extremely cheap and subsidized some other way, or you are making bank. In my area, I don't think you can find a private school for under 20k ish a year.
I was about to say a similar think, because it’s around 10k a kid here.
I’d think 12% on education is reasonable if that’s what you think is best for your kids
Posted on 12/7/24 at 8:22 am to JL
I’m pretty sure private schools for my daughter averaged 15-20 per year. Less for lower grades and more for higher
you do what you have to do. College tuition was a discount LOL
you do what you have to do. College tuition was a discount LOL
Posted on 12/7/24 at 10:00 am to JL
quote:
standard catholic schools are $10-13k.
Haven't sen that cheap in H-town.
But congrats on the multi-million a year income
This post was edited on 12/7/24 at 10:01 am
Posted on 12/7/24 at 10:32 am to Lsut81
We have one and it’s about 5% of our gross base pay.
Our lives are much different if we had that much more money a year, but our child is getting a top tier education in an amazing environment that will hopefully set him up for future success.
We Belive the school is only as good as the 4 walls at home. It all starts there
Our lives are much different if we had that much more money a year, but our child is getting a top tier education in an amazing environment that will hopefully set him up for future success.
We Belive the school is only as good as the 4 walls at home. It all starts there
Posted on 12/7/24 at 10:35 am to JL
Thrilled I live in an area with good public schools. I've read Louisiana mirrors Little Rock in terms of public school quality. Sad state of affairs there.
Posted on 12/7/24 at 11:04 am to Lsut81
quote:
Genuinely curious around all the details. Either those schools are extremely cheap and subsidized some other way, or you are making bank. In my area, I don't think you can find a private school for under 20k ish a year
People in Louisiana conflate private schools with parochial schools. Where I grew up Catholic/christian schools were relatively cheap but private schools cost more than most colleges. Private schools in the northeast start at closer to $50k per year, but an expensive Catholic school in Baton Rouge costs less than $15k.
Posted on 12/7/24 at 11:19 am to JL
I wouldn't worry either way if you're making $750k - $1MM. Send them to the better school if you think they're marginally better off.
I'd imagine mine will end up at St. Anne if I stay inner loop.
I'd imagine mine will end up at St. Anne if I stay inner loop.
Posted on 12/7/24 at 4:49 pm to Motownsix
If you have 4 kids then how do you do it?
I don’t know how people live in Houston if they don’t make $200k combined income. And even then you are house poor.
I don’t know how people live in Houston if they don’t make $200k combined income. And even then you are house poor.
Posted on 12/7/24 at 5:16 pm to justaniceguy
We pulled ours and homeschooled. We felt wealthy and never looked back. Lipscomb in nashville started going woke and white shaming. Fired the good teachers.
You can do a one day a week co-op for the kids for5-10% of the cost of private school. Great traditional curriculums available too.
You can do a one day a week co-op for the kids for5-10% of the cost of private school. Great traditional curriculums available too.
Posted on 12/7/24 at 7:16 pm to LChama
This is the equivalent of a $200k HHI family debating $6,000 vs. $2,600. Is there really a significant difference?
Posted on 12/7/24 at 7:56 pm to JL
12% seems cheap for three kids.
I’m accustomed to private schools being $30K+ in my area per kid.
I’m accustomed to private schools being $30K+ in my area per kid.
Posted on 12/8/24 at 8:15 am to JL
We spend about 7.5%. Worth every cent in the MS Delta
Posted on 12/8/24 at 10:38 am to JL
Education is one thing most people on a board like this can all agree is worth the expense. If people can give their kids the best education at only 4% of the gross income, that is a steal for most people to set the child up for the best possible chance at success. Making education an important focus of a family is one of the best ways to improve chances for generational success.
Posted on 12/8/24 at 6:28 pm to Lsut81
Berean in Katy is in the 10-13k range. Why I spent over a decade paying Katy ISD taxes just to have ex wife turn around and send an elementary school age kid to private school I have no idea.
Posted on 12/8/24 at 8:26 pm to Lsut81
quote:Holy hell. I don't think there is a private school in St Tammany that costs that much
In my area, I don't think you can find a private school for under 20k ish a year.
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