Will we price ourselves out of existence?

In 2005, fifteen years ago, the National Association of Independent Schools published a monograph Opinion Leaders Survey Forecasting Independent Education to 2025. Following is an excerpt from pages 9 & 10:
Opinion leaders worry that independent schools are becoming increasingly unaffordable to larger segments of the population. As tuitions rise and the gap between high income and low-income households increases, tuitions comprise an increasingly larger percentage of low- and middle-income households’ total income. This increasing income gap will create new complexities and challenges in student recruitment and retention, financial aid planning, tuition pricing, and community building and outreach. Will independent schools continue to champion diversity and inclusivity or will they become institutions that serve only certain segments of society? According to Bruce Shaw, NAIS board chair, “You can’t educate students to become ethical citizens of their community, much less the world, if you’re only capturing and catering to one little slice of America.”31 For the good of society and their own communities, independent schools will need to face these challenges head on and find ways to keep their doors open and affordable to a variety of households
The Cost Versus Affordability Highwire
In NAIS’s 2004 Hot Issues Survey, heads of school identified financing the affordable independent school as the number one most challenging issue facing independent schools. The constant challenge of balancing operating expenses with affordable tuitions has been made even more difficult by expansion of staff, skyrocketing, unpredictable health insurance costs, the need to finance competitive salary and benefits packages for faculty and staff, escalating technology expenses, and facilities maintenance and renovation costs. Demands for new programs and services have also contributed to rising expenses.

Prompt:
What implications does this have for your institution and Catholic elementary and secondary education in general?

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