Private School Tuition Continues to Climb

Physician's Money DigestJune 2006
Volume 13
Issue 6

Wall Street Journal

If you're a physician who has one ormore children enrolled in a private school,you are aware of the rising costs of tuition.Try to avoid calculating how many nicecars or family vacations you could havepurchased with each passing year, becauseit's only going to get worse. A recent articlepublished by the ,citing statistics from the National Associationof Independent Schools (NAIS),says that the national median tuition forthe 2005-2006 school year is $16,970—a14.5% rise since 2000-2001—with someNew York City schools topping $30,000 ayear. In areas where the cost of living ishighest, private schools have alreadybegun to rival college costs. NAIS quotesthe average tuition of schools based inNew York and New Jersey to be $23,005for grade 12, while schools in the Southeastfall on the other side of the spectrumat $12,960. Traditionally, private schoolsprovide grant money to needier students.However, a number of schools across thecountry are now saying that they are tryingto increase the amount of aid for middleand upper-middle income families as well.Parents grossing as much as $250,000with two or more kids in tuition-chargingschools can now qualify for financial aid.

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