flowerinsta OP t1_jac4oqp wrote on February 28, 2023 at 10:59 AM

Reply to comment by theoriginalharbinger in What percent of my annual income should I spend on sending my kid to a private high school? by flowerinsta

My spouse and I have a combined income of 650k.We live in a HCOL area and have only one child.The schools we are considering are mostly boarding schools like Exeter, Choate, Loomis, Deerfield.These schools general cost somewhere between 55k to 70k excluding things like uniforms and school supplies.

theoriginalharbinger t1_jac6azn wrote on February 28, 2023 at 11:21 AM

A few quick hits.

1, you can't just say HCOL and name drop specific schools and assume we know what you mean. I'm guessing this is the US, but boarding schools are simply not a thing in the part of rhe US I live in.

You also did not indicate your expectations with respect to these schools here either. 210k is (checks math) what 4 years of private school would cost and is about 4x what I spent getting my BS and MBA.

Lollc t1_jad14sh wrote on February 28, 2023 at 3:44 PM

Those schools are well known. Boarding schools aren't a local thing, they are like being sent off to college.

theoriginalharbinger t1_jad8laj wrote on February 28, 2023 at 4:33 PM

They're well known among upper crust Northeasterners who want to send their kids to ivy league schools.

That is not "well known" in ant meaningful sense. Exeter enrolls 1000 kids. So over 20 years there have been roughly 5k graduates, or about - out or a population of 400 million in the US - about .00125% of thr population. Or if you prefer it this way, assuming Exeter graduates are evenly distributed throughout the USA, there are 5 in the entire state of Wyoming. To the best of my knowledge - and I'm around OPs income - I have never dated, worked with, or worked for a graduate of Exeter.

flowerinsta OP t1_jac70ir wrote on February 28, 2023 at 11:30 AM

We live in Brooklyn,NYC. Ik that boarding schools are not a very popular option but my son is interested in going to one. As for my expectations, I think that boarding schools are good for his overall development as an individual and the college prospects are very good for students graduating from these schools.Also the connections made at places like these can help him in the future.

MarcableFluke t1_jacmzf1 wrote on February 28, 2023 at 2:04 PM

Studies have shown that higher outcomes seen for kids at private schools practically disappear when you control for socioeconomics.