Private school tuition in New York averages $65,000 a year, creating a divide between the truly rich who can afford it and the merely wealthy.
In New York City, being able to afford private school is a sign of immense wealth. The top independent schools in the city now charge approximately $65,000 per year, with some offering partial financial aid to high-earning parents who still make significantly less than the wealthiest families in their communities. This disparity highlights the growing financial strain on even the upper middle class in a city where prices continue to rise.
Private schools are viewed as essential for gaining access to prestigious colleges and influential social networks. Many of America’s most prominent figures, such as Secretary of State Antony J. Blinken and JPMorgan Chase CEO Jamie Dimon, are alumni of New York City private schools. The connections and opportunities provided by these schools are considered invaluable for future success.
For families seeking admission to these elite institutions, financial aid calculators can be a helpful resource. Léman Manhattan Preparatory School, for example, offers aid to families earning up to $600,000 with two children enrolled, and up to $800,000 with three children enrolled. With tuition at $67,300 per year for most grades, financial aid can make a significant difference in making private education accessible to more families.
Source: The NY Times
