alt Hacker NewsDon't live above your means because an unexpected event is likely to happen. Plus creating a situation where all peers are rich and only your kid is not doesn't open the doors to future success compared to if they were at their peers lifestyle level.
We grappled with this too but in the end, our decision was influenced by our parents choosing to live beyond their means to put us through good schools and college. If they could grit their teeth and sacrifice for us, we can do the same for the next generation.
Our choice us somewhat made easier because we didn’t like any of the schools near us except this one. The others were focused on exams/results and were larger in size so felt more “corporate”.