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The secondary level includes university-preparatory schools, boarding schools, and day schools. Tuition at private secondary schools varies from school to school and depends on many factors, including the school's location, the willingness of parents to pay, peer tuitions, and the school's financial endowment. [7]
From 2002 to 2004 alone, tuition rates at public schools increased by just over 14%, largely due to dwindling state funding. A more moderate increase of 6% occurred over the same period for private schools. [51] Between 1982 and 2007, college tuition and fees rose three times as fast as median family income, in constant dollars. [52]
In 2017, a federal endowment tax was enacted in the Tax Cuts and Jobs Act of 2017 in the form of an excise tax of 1.4% on institutions that have at least 500 tuition-paying students and net assets of at least $500,000 per student. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time.
Parents thought the tax credit would reduce what they pay. Instead, many schools raised tuition in a comparable amount to the tax credit.
On the federal level, private school tuition is not tax deductible, as there's no federal education credit or deduction when paying for private school. You may be able to deduct the tuition as a ...
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The Private School Universe Survey (PSS), which builds an accurate and complete list of private schools to serve as a sampling frame for NCES sample surveys of private schools and to report data on the total number of private schools, teachers, and students in the survey universe; Components of the National Household Education Survey (NHES)
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