I am hoping to follow up this post with a number of other tuition, camp, and tzedakah related posts.
It seems that the current generation of parents is being helped to heavily supported by their own parents, almost regardless of income level and regardless of their position in the community. From kollel yungerman to doctors and lawyers, it seems that a high percentage of families need a helping hand. And while it is nice when parents can help their children build financial security, I believe much of the help is not in the form of wealth building, but is just in the form of helping children make ends meet (i.e. the wealth will not have the potential to continue into the next generation). And that is scary!
In a previous post, an anonymous poster writes:
I pay over $120,000 per year on my children's tuition. Our gross family income is $280,000 per year. If we did not have relatives that help we could not make it. My kids yeshivos charge whatever the market will bear and ask for over $20,000 for high school and over $10,000 for elementary school. What a racket! This does not include lunch and summer programming.
At first I was astounded. Obviously this is a large family. But with such a high income, do they really need family help just to make it? Or is that family help really going to fund what something beyond the basics.
After guesstimating the number of dependents and plugging the figures into my tax software to estimate net-income, I answered my own question. Yes, a large, dual-income family with an enviable income more than likely needs help just to put food of the table after tuition and childcare.
And all I can say is "Houston We Have a Problem."