Summary

• On average, families with children in independent schools earned $130,127 in after-tax income compared to $97,301, on average, for families with children in public schools, which represents a difference of 33.7 percent.
• If the families with children attending elite independent schools are removed, the average after-tax income for the remaining families with children enrolled in independent schools falls to $95,549, which is 1.8 percent less than the average income for families with children attending public schools.
• Families with children in elite independent schools earned an average after-tax income of $192,265, which is 97.6 percent higher than the average income for families with children in public schools.
• Decreasing the coverage ratio to 50 percent or increasing it to 80 percent does not significantly alter the results. Families with children enrolled in non-elite independent schools have levels of average after-tax income comparable to those of families with children attending public school.