Private school is a status good.
Schools intentionally raise prices and cultivate an air of exclusivity. It’s the same playbook used to market luxury goods, such as a Birkin bags.
The price is the product. You’re buying membership to an exclusive club. Drop tuition to $250 a month, let anyone attend, and desirability evaporates overnight.

Private schools are the most expensive placebo in America. Nowhere else will you pay $250k+ for something that has so little impact on school achievement.
My latest on why private school isn't worth the cost: https://ofdollarsanddata.com/why-private-school-isnt-worth-the-cost/…

Nick Maggiulli

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