How Educating A New York City Kid Can Cost You Over A Million Dollars
New York City is home to some of the best schools in the country, but they don't come cheap. The economic downturn hasn't stopped colleges from going well above $50,000 a year in tuition, and elite prep schools aren't much cheaper. If a New York City parent decided to send their child to the most expensive preschools, grade schools, Northeast boarding schools, colleges and law schools here's what it may cost:
The 92nd Street Y has one of the most sought after preschool programs in the city. To send your two-year-old there three days a week it will cost you $14,400, if your child continues there at age three and goes full time you'll pay $21,100, and if they stay on a third year it will cost $25,850. This means your child's preschool education will cost $61,350.
The elite Dalton School ranks among the most expensive grade schools in the city. (Full disclosure, I went to the Trinity School which only costs a couple hundred dollars less.) Dalton's K-12 tuition is $35,300, which means the full nine years there will cost a family $317,700.
NYC high schools aren't cheap, but the popular boarding school options cost even more. If you decide to send your child to Groton for high school it will cost you $46,790 a year, for a total of $187,160.
New York's Sarah Lawrence topped the most expensive colleges list this year, with a whopping price tag of $56,420 per year. If you send your child there, the total for four years will run $225,680.
Law school is a popular option for students after college and Columbia has one of the best. Including books and room and board, Columbia Law will cost you $74,000 a year, or $222,000 over all.
This brings the grand total of educating your New York City child at the most expensive schools from preschool through law school to $1,013,890.