How to Finance Private School Tuition

Date2015-02-05

How to Finance Private School Tuition

If every parent had the financial resources, many of them would send their children to private schools rather than public. Unlike public schools, private schools offer much more individual attention to students than public schools do. This is because their enrollment is much smaller, whereas in public schools, there are often nearly 35 children in one classroom. With less children, teachers and other staff members can afford to devote special attention to the need's of each child. This is especially significant because each child has a different learning style that likely does not always fit with the lesson being taught. Students given individual attention in school are much more likely to receive better grades and a love for lifelong learning compared to those who are not. Most parents would agree that the benefits of private school far outweigh those of public school, but not all of them have the financial means to pay the tuition, as some private schools can be extremely expensive. There are many different options for these families wanting to send their children to private schools. Families with no children or infant children may choose the option of saving money for private school before their children reach elementary school age. This typically gives parents between 3-5 years to save for private school. To obtain the money more quickly, investing may be a good idea. Depending on their preference and interests, parents who want to begin investing may purchase investment properties or buy stocks. Some private schools offer scholarships available for students from low-income families. These scholarships can often be found in community organizations and churches. The amount may not always cover the full tuition, but they are definitely helpful. Families with especially limited means may qualify for financial aid. This type of assistance is funded by the government and it does not have to be repaid. For those hoping to qualify for financial aid, School and Student Services is run by the National Association of Independent Schools and offers a lot of tips for parents on private school financing. Parents can apply for financial aid to all of the schools they are interested in on the School and Student Services website. Loans and payment plans are also an option. Loans allow parents to borrow all or part of the money to pay for a child's tuition. FinAid is a website with a wide variety of information on loans. Some schools offer these loans, and sometimes parents can apply for them at the bank. A payment plan is extremely similar to a mortgage, and is generally paid in small parts monthly. Parents can apply for payment plans with participating schools through services like F.A.C.T.S. Tuition Management and Smart Tuition Management Services. Through these programs, participating schools apply for a payment plan on behalf of the families. While it may seem impossibly expensive, there are many ways that parents can finance their child's private school tuition. Every child deserves the best education available, and there are many programs available that want to ensure that every child has an opportunity to receive that education.