Updated
Updated · Business Insider · May 9
Parent cashes out retirement savings for son's specialised education
Updated
Updated · Business Insider · May 9

Parent cashes out retirement savings for son's specialised education

4 articles · Updated · Business Insider · May 9
  • The parent withdrew $60,000 to cover two years of tuition at a New York school after a dyslexia and learning-disabilities diagnosis left the family facing costs of $30,000 a year.
  • The son, who started there in sixth grade, is now in 10th grade, thriving academically and socially, completing homework independently and planning an international school trip while considering college.
  • The family considered moving, borrowing or suing for reimbursement, but the process brought wins, losses and added debt, leaving the parent expecting to work longer or live more simply in retirement.
With reimbursements costing NYC over a billion dollars, what is the true price of educational inequality?
A child’s success cost a family's retirement. Is this a story of sacrifice or system failure?
Is raiding retirement savings the new normal for parents whose children are failed by public schools?