No doubt about it, private school tuition costs are rising. Some schools seem to be rising at a faster rate than others. Why? What's behind those tuition increases? Unfortunately for many private schools costs of basic goods and services have risen dramatically. Energy costs alone chew up a major part of any school's budget. Faculty and staff salaries and benefits are a substantial part of budgets as well. In order to attract and retain qualified, skilled and experience personnel, you need to offer a decent compensation package with annual increases. Most schools also offer free or substantially reduced tuition for children of faculty and staff.
This video from ABC News discusses the benefits and costs of private school.
Reasons why private school tuitions are on the rise
Administrative costs are one reason private school tuitions increase year over year. Everything from employee compensation to insurance plays a part in this situation.
According to HowMuch.net: "The average cost of private school tuition has grown at a rate that is higher than inflation over the past 20-years. While there are several cost increases that have led to the rise in private school tuition, administrative employee compensation has been the main catalyst for the increases in private school expenses. The rise in the volume of employees who have a larger compensation package than a typical teacher has created the upward trajectory in private school tuition