Studying in private schools in New York costs tens of thousands of dollars a year and will rise in price again

Tuition fees at the city's elite private schools will increase next year. Most top-tier institutions will charge more than $60 a year for the first time, reports New York Post.

Spence School sent out contracts for next year and announced a 3,5% fee increase. The graduates of this one of the best schools in the city were Kerry Washington and Gwyneth Paltrow.

The increase comes one year after 120 parents wrote a letter asking for a tuition freeze. The total annual bill has now risen to $60 per student.

"We are prudent in setting our annual budget," they said in a statement. school shocked parents.

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The Spence School isn't the only institution with tuition fees going over the $60 threshold next year, sources said.

Schools such as Horace Mann, Dalton and others are in the process of sending out acceptance contracts. They will also raise prices beyond that mark.

Tuition fees at the city's elite schools have roughly doubled in the last 15 years.

These schools reportedly charged between $2008 and $30 a year in 000.

Spence School Principal Body Brizendin earned $2019 in 886. The school told parents that the remuneration of teachers is 000% of the cost of education. They added that striving to hire top-notch teachers is "the most important thing we can do."