US Private Schools’ Tuition Approaches Record $50,000

The cost of private school in the US is inching closer to $50,000, according to a new report by S&P Global Ratings.

Annual average tuition reached new highs, according to the rating firm’s report on 59 schools in the sector released Tuesday. For day schools, it jumped 3.6% to $48,922 on average and for boarding schools, tuition rose 3.5% to $75,466. The percentage increases were less than last year, when day schools saw tuition climb by the most in at least a decade.