The Opportunity Cost of Homeschooling

The following article (click on linked title above for full version) has received a great deal of attention since I reprinted in Home Educator's Family Times both online
and in our print edition. Since most homeschool families use their ingenuity to survive on one income, this is a thoughtful look at what it takes, and what the "sacrifice" is worth. ~ JB


The Opportunity Cost of Homeschooling
by Barbara Frank

Lost income is probably the biggest opportunity cost of homeschooling, and my situation is not the most extreme. For example, if you have an advanced degree in law or medicine, homeschooling could cost you a six-figure amount in lost income each year. And even if you never went to college, you are likely missing out on $20-30,000 annually.

This brings us to the question: is it worth it? Does homeschooling reward your family enough to make up for the loss of hundreds of thousands of dollars of income?

The answer depends on how much you value the intangible rewards of homeschooling. Looking back on the past 20 years, I think of all the memories my children and I made. There were games and projects, frustrations and solutions, fighting and forgiveness. We had so much time together, thanks to homeschooling. As my two older children have grown into adults, that time has dwindled, and has gone from daily life to occasions. How can I put a price on those years we had together?