New York kindergartens - tougher acceptance than Hogwarts
moneyrelations :: Feb.18.2008
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I’ve heard of “Thank God it’s Friday” and “Black Friday” but the term “Crazy Friday” is a new one.
Apparently, last Friday was more crazy than usual as New York parents received acceptance/rejection verdicts from private kindergartens for their mini-me’s - their first step in a journey to an Ivy League education.
The money thrown around to snatch a coveted spot for junior is amazing. Guidance for applying to these private kindergartens could cost as much as $15k. And that’s not counting the $28k a year for tuition. The article didn’t mention it, but I’m sure there are other monetary incentives for schools to accept certain children.
To be fair, when you’re on the outside looking in, it seems a bit extravagant and overboard. However, if you’re an investment banker living in Manhattan, I guess the question is… what else are you going to do with your money? You want the very best for your child. It’s only natural to invest in your kid’s future as well.
I’m all for opening up horizons and opportunities for children. I just hope this isn’t as mercenary as it sounds and it doesn’t lead to unrealized expectations.
Children getting a leg up in life might have a higher distance to fall.
Investing ::
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guess that’s how dynasties are built…
Just goes to show that in a high cost place like NY, making six figures simply isn’t enough. Plus getting into schools! Wait till your kid becomes a teenager - and the stress and peer pressure with all that college prep tuition!
Hi guys,
Mr Credit Card makes a good point… wonder what all that stress will do to a teenager… Nancy, do you think that dynasties are still in place when family traditions fall by the wayside? Teenagers are more free to take different routes nowadays. Just take a look at the Hiltons
I really don’t know if all these “opportunities” are a blessing or a curse…
point taken! And in Canada, guess that would the Eatons, Woodwards, Thompsons (or who is it who own Loblaws?) …