adj. Having little ready cash due to the cost of sending one's children to expensive schools.
2014
Not quite our family, as it happens, and not that it’s anything to be ashamed of; indeed, the school-poor families are probably the ones who are sacrificing the most for their children’s educations.
2013
Some people are "house poor" but we are "school poor", which I guess is a better place to be in if I have to choose a good point about it.
2010 (earliest)
This seems to be very common these days… e.g., being "house poor", "school poor", "car/gasoline poor". Of course, being "kid poor" has always held, because they grow like weeds!
School poor is a play on house poor: having little money for discretionary spending because of excessive housing costs, particularly a large mortgage. This phrase dates to at least 1952.