Education: Loans for Prep School Parents

In more and more U.S. cities, middle-class parents have examined the sad state of public schools and decided that private schools are a necessity rather than a luxury. But soon only the very rich—or the very poor—may be able to afford those schools.

Take an executive earning $40,000 a year. On paper, his family is richer than 98% of U.S. households. But, after taxes, food and mortgage payments slash his disposable income to about $16.000. If he has three children, he is likely to pay private schools at least $5,000 more. Though he has...

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