Kansas City Private High School Cost Increases Slow in 2019-2020Submitted by Castlebar Asset Management on April 29th, 2019
Private high schools in the Kansas City Area continue to see prices creep higher for the 2019 -2020 school year. The positive news for parents is that cost increases are moderating over previous years. The median increase in the full cost to attend is up 2.81%. This is the lowest in the five years we have been tracking education expenses.
This is the first year that all schools in Kansas City now exceed $10,000 to attend. The most expensive school in the KC metro continues to be Pembroke Hill at $24,960. The most reasonably priced school is Bishop Miege. The full cost to attend Miege is $10,143.
The average cost is a little over $14,400 per year. This is an increase of about $410 over the 2018-2019 school year. Private high school education expenses continue to outpace general inflation, but fortunately are not seeing the same growth rates as college or universities. Tuition costs also posted their lowest growth rate in the five years we have tracked this data. The median growth rates are 2.94%.
The tax law changes that came into effect in 2018 allow parents and grandparents to use 529 accounts to pay for K-12 private education. This change has been well received by our clients who send their children to private K-12 schools. In Kansas and Missouri, you can take a distribution of $10,000 per child per year from a 529 account to pay for private K-12 education. This will not cover the full cost of any KC area private high schools but it certainly will help. We encourage parents or grandparents to route their tuition payments through their 529 plans to get the state benefit if your state offers a deduction.
We gather information from each schools’ website. We look at the full cost of sending one student to school. This includes tuition and different fees like activity, supply and technology. If there is a different tuition rate for church members or other affiliation, we defer to the lower rate. Many schools offer discounts or reduced prices for multiple students or family rates, but we did not factor them into our calculation.
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