$300,000 And Counting: The Cost Of A Decision Many Parents Regret

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$300,000 And Counting: The Cost Of A Decision Many Parents Regret

^{Published on 2025-01-05 20:00:56 - MSN}

Raising kids is rewarding, but let's be honest
it's expensive. The average cost to raise a child until age 18? According to Northwestern Mutual, it's a whopping $300,000, as Business Insider reported.

The article from MSN discusses the financial burden of choosing private education for children, a decision many parents come to regret due to its high cost. It highlights that the average annual tuition for private schools in the U.S. can exceed $30,000, with costs accumulating significantly over the years of a child's education. The piece points out that many parents, influenced by the promise of smaller class sizes, better resources, and potentially better college admission prospects, opt for private schooling without fully considering the long-term financial implications. This decision often leads to financial strain, with some families going into debt or sacrificing other financial goals like retirement savings. The article also touches on the emotional and social pressures that can drive this choice, despite the economic drawbacks, and suggests that parents should weigh these costs against the actual benefits, considering alternatives like public schools or scholarships.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/300-000-and-counting-the-cost-of-a-decision-many-parents-regret/ar-AA1x0KpW ]

Contributing Sources

MSN

N@N

$300,000 And Counting: The Cost Of A Decision Many Parents Regret