Canadian Personal Finance Blog

I saw this article on the CNN web site and was amazed at how much private pre-university schools can be!

Friends of ours, who are my financial models, send their kids to two very good private schools (they have no debt and are doing it, because they feel the level of education for their kids is better, so I view this as good reasons), and in discussion they pointed out that if their sons go to a Canadian University it will actually be CHEAPER for them to go there than their current private schools. That kind of floored me, but I do know that if I could afford to, I would investigate private schools a bit further (I think my kids are getting a good education, but I know that Private institutions have the luxury of offering more tailored programs for kids).

Is it a good thing financially to go into debt to send your kids to a private school? Well, I am not sure I agree with that as a choice (I think this depends on the level of debt you are at), if you think it is important, then maybe you need to add this to your financial plan, and more likely than not you need to forego other things.

Any comments? This is a good question, is it a good financial decision to send your child to a Private School (let’s not discuss University or Post secondary stuff, that is another question)?

–C8j