The number of families opting for private schools is increasing, even as tuition costs hit record highs, according to a recent report from S&P Global Ratings (SPGI). This trend underscores the resilience of private education demand despite rising expenses.
Enrollment on the Rise Amid Higher Costs
More than half of all private schools reported a year-over-year increase in enrollment, with 8% experiencing a growth of 3% or more, according to Bloomberg’s analysis of the SPGI report. This rise comes alongside a significant surge in tuition fees. Boarding school costs increased by 5.3% to an average of $73,080, while tuition for private day schools climbed 7.4% to $49,284.
Post-Pandemic Inflation Adjustments
The increase in tuition marks the largest annual hike in at least a decade. S&P analysts attribute this to schools adjusting costs to align with post-pandemic inflation levels. “They were trying not to lose any of their market share by keeping tuition down,” said Alexander Enriquez, an associate director at S&P. “There’s a sense that there’s an ability to control the pricing from the school’s end.”
Regional Cost Differences in Private Education
The cost of private school education varies significantly by region. According to the Education Data Initiative, the average cost of private school attendance from kindergarten through high school is $312,026. This figure rises in the Northeast, with Connecticut ranking as the most expensive state for private education. Other high-cost regions include California, Virginia, and Washington, D.C.
The Most Expensive Boarding Schools in America
Quartz analyzed tuition and fees at over 50 elite boarding schools to identify the most expensive institutions in the country. While the Northeast remains a costly region, California high schools dominate the rankings.
10: Concord Academy
Located in Concord, Massachusetts, this coeducational school was founded in 1919. The total annual cost before financial aid is $78,610.
9: St. George’s School
Established in 1896 in Middletown, Rhode Island, St. George’s School charges $78,900 annually for tuition, boarding, and fees.
8: Brooks School
Founded in 1926 in North Andover, Massachusetts, Brooks School has an annual cost of $78,923.
7: The Lawrenceville School
One of the oldest prep schools in the U.S., The Lawrenceville School in New Jersey was founded in 1810 and costs $79,500 per year.
6: Cate School
Located in Carpinteria, California, Cate School was founded in 1910 and has an annual tuition and boarding cost of $79,980.
5: The Webb Schools
Consisting of the Webb School of California for boys and the Vivian Webb School for girls, these Claremont-based schools have a combined annual cost of $80,835.
4: San Domenico School
Founded in 1850 in San Anselmo, California, San Domenico School charges $81,000 annually.
3: The Village School
Located in Houston, Texas, The Village School is an International Baccalaureate institution with a total annual cost of $85,550.
2: The Athenian School
Situated in Danville, California, The Athenian School was founded in 1965 and charges $87,760 per year.
1: Woodside Priory School
Also known as The Priory, this Catholic school in Portola Valley, California, was founded in 1957 and tops the list at $89,915 annually.
Conclusion: The Future of Private Schooling
Despite rising costs, private schools continue to see increased enrollment, signaling sustained demand for elite education. With tuition rates climbing annually, families may need to navigate financial aid and scholarship opportunities to afford the best institutions.
