Ecomomic Hardships and Private School Attrition

by NYC Firm Schools on November 11, 2008

One of the many ‘on fire’ topics around the subject of NYC Firm Schools is the possible effect of the economic downturn may have on private school admissions. There is a buzz in some circles that families hit by the current market will be unable to afford private schooling for their children and that the end result will be more spots available at choice schools.

There are also many discussions on the decrease in available financial aid caused the lack of funding that could be projected to cause a decrease in students applying for and attending Firm Schools.

In regards to the money available, the basic truth is that not all NYC Firm Schools cost a large amount of money to attend. Even those schools that do have a very high tuition accept many students on a sliding scale based on family income. Whereas one family may be paying over $15,000 for their child’s tuition, another family may be paying $1,000 for the same school and the same grade.

To address the question of attrition, that is whether or not families will drop out of Firm Schools due to lack of tuition money, the answer is simple; the rate of attrition will continue to be low enough to not make a recognizable difference in the number of spots available at Firm Schools.

The difficult economic times will certainly affect the number of new schools opening in the NYC area, so for those schools that are in the planning stages and expected to open in a few years, they may find their schedule pushed back.

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