A practical guide to the private school decision
How tuition adds up over the years
A school's published tuition is one child for one year at today's price. The useful number is the whole arc: every child, every year, through graduation. Tuition typically rises each year, and there are of course other financial obligations beyond just tuition.
With more than one child, this increases the impact of a private school choice. A six-year-old and a three-year-old overlap for ten school years, so there is a long stretch of two tuitions growing at the same time.
Sibling discounts help. Schools vary: some discount only the second child, some only a few percent, and some only while both are enrolled. Enter the figure your school actually offers, and leave it at zero if you are still finding out.
A better test than "can we afford year one"
Year one is usually the least expensive year of the plan. Fewer children are enrolled and tuition is at today's price. That is fine as a starting point, but the decision is easier to make well when you can also see the most expensive year, which is typically the last year both children are enrolled.
A few questions to think through. In the most expensive year, does the household still cover its spending, the tuition and the savings it wants to keep making? How much room is left that year as a share of income? And if a year comes up short, which year is it, and what could change by then: a raise, a return to full-time work, a car paid off, a lower-cost school for the early grades?
The verdicts on this page are a shorthand for those questions. "Comfortable" means every year keeps at least 10% of income in reserve after tuition and savings. "Tight" means every year covers its costs, with at least one year holding less than that 10% cushion. "Breaks" means at least one year needs more than the household brings in, so one of the inputs has to move: the start grade, the school, the savings target, the timing or the income. The full forecast shows which year, by how much, and how far each lever moves it.
The costs beyond tuition
Tuition is the headline, and the rest is worth writing down so it is in the plan rather than a surprise. Expect enrollment and re-enrollment fees, technology and activity fees, most of them per child. Uniforms are replaced as children grow. Books and supplies are often a parent purchase at private schools. Sports, music and arts programs carry their own fees, travel and equipment. Many schools also run an annual fund and an auction; giving is voluntary, and most families choose to take part.
Questions worth settling before you enroll
What are we choosing between? Tuition and savings come from the same pool. Run the calculator with the savings goal set to what you genuinely want to keep putting away, so the answer reflects both priorities rather than one.
How much room do we want in the tightest year? Look at the year with the smallest margin and picture a 10% dip in income that year. If you would still be fine, you have margin. If you would pause saving for a year, that is a Tight plan, and it is a reasonable plan as long as both of you are choosing it.
What do our real accounts say? This calculator works from estimates you typed in. We built Finance Forecaster to help manage the time after you make your private school decision.