Sophia Hollander of The Wall Street Journal broke news today with her story about how New York City private school annual tuition has risen to $40,000. Private School Tuition Bill Tops $40,000
As I told Hollander in a phone call, given that demand for top school slots outstrips supply, I am not surprised that tuition bills are rising. A client once said to me, "I wish that the tuition was $100,000 a year so fewer people would apply." A school like Dalton, Trinity, or Riverdale can name any price and many parents will gladly pay it. Given this market, there is little incentive for schools to keep down their fees.