Lost in decisions for selling house

[Ethan Bennett]

I am looking for some advice on my current situation. We live in Hampton VA and the schools are rated low, some even a 2 out of 10.

Up until now our son has gone to a good elementary school, but we now face middle and high school.  Those two are the worse in lower numbers.  We may end up sending him to private school for middle school, but the private high schools here are extremely expensive.

So we are thinking of doing one of the following:

•  Save our money for the next few years and try to sell our home, paying the difference that we owe vs. what we can get.  At this point we just want to break even and get out.  The house is nice and we have did a lot of work over the years.  It is however, about 15-20k over.  Currently we owe 206,350.  Most homes in our area have sold for 180-195k.  Also, when does interest drop on the loan?  We have been paying over 10 years now and the interest is killing us($861.50 out of a $1356 payment).
•  Stay here and send our son to private school.  That would mean paying at least $18k a year, which we truly can't afford.
•  When the time comes for him to attend high school, we would rent an apartment in the area we want him to go and leave the house until it sells.  
• Rent the house out and move.  I personally don't want to deal with renters.

I keep going back to the first solution as it seems the best.  This has put such stress and worry on our family lately.  There has to be a better solution.