Wealthy Private Schools In Upscale Miami Are Starting To Price Out Their Teachers
The rich neighborhoods in Miami are getting so rich, they're starting to price out the teachers.
For example, Ransom Everglades, a top private school in Miami’s upscale Coconut Grove, serves the city’s wealthy families, including new Wall Street South transplants.
It boasts amenities like an Olympic pool, sailing, and a waterfront football field, it offers 24 varsity sports, 62 arts courses, and a cutting-edge science center. And with a 10-to-1 student-teacher ratio, admission is highly competitive—only one in seven sixth-grade applicants were accepted this year, according to parents.
But the school is struggling to retain teachers due to the increasing cost of living in the area. So much so that it has been building an endowment to help give teachers stipends to offset their living expenses, according to Bloomberg.
Ransom Everglades' board, led by chair Miguel Dueñas, is creating a $30 million endowment to help its 132 teachers with living costs in Miami’s pricey market. They’ve raised $15 million so far from parents and alumni, aiming to provide each teacher at least $11,000 annually for housing expenses through the fund’s returns.
Dueñas commented: “The ...
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