Private schools are seeing a rise in financial aid applicants from parents earning $150,000 or more each year, according to CNN Money.1 comment on this story
Since 2006, tuition has risen 26 percent, costing $22,000 a year, according to the National Association of Independent Schools. Another cause is families being hit with the recession and declining home values. Still they are not willing to forgo the cost of private schools, according to the article.
However, the increase in affluent families applying for financial aid is making it harder for lower-income families.
"A greater part of the school's community is demonstrating need, and that makes us less able to afford a very significant financial aid package for low-income students," said Todd Ormiston, assistant head of enrollment management at Gould Academy in Bethel, Maine.