How did the southern gentry usually educate their children?
they hired private tutors.
they taught their children themselves.
they used public schools.
they did not educate their children.

The southern gentry usually educated their children by "hiring private tutors", mostly due to the fact that the population density in this region was low, and sending children to single schools was impractical. 

Yes, some people used the depression to the max. not everybody had stocks, and those that didn't bought many things inexpensive, so that when prices rose again, they were much more richer than beforehope this