At the private New Roads School in Santa Monica, 20 families decided not to re-enroll in the fall because of financial nervousness.
At Loyola High School near downtown, 40 families have come forward since the beginning of the school year seeking financial aid to help cover tuition costs, even as the school’s endowment — heavily invested in equities — has taken a battering in the financial market.
Pacific Hills School in West Hollywood is creating flexible payment schedules for some families and is tightening its own belt with an eye toward more tough times ahead.
The economic meltdown that has ravaged many banks and homeowners is also affecting private schools in Los Angeles and nationwide, forcing educators to revise budgets, plan extra fundraising appeals and brace for possible lower enrollments next year. The distress comes at a time when some independent schools already have seen potential students gravitate to public charter schools, which are free and offer some of the same advantages of private campuses.