How to Finance Private School Tuition for Your Child

List: Posted: 12/10/10

Financing private school tuition is a burden that many parents take on for the sake of their child’s education. Private schools are almost as expensive as going away to college, but you just can't help thinking that your child will get a better education at one.


Paying for private schools can be done a few different ways. You can always write a check or use a credit or debit card. Some private schools even offer discounts if you pay up front, so start saving your money now.


Since private schools are so pricey, there are monthly payment plans out there. They aren't always offered by the private schools themselves, but often by an outside source. If you're only paying once a month instead of worrying about two lump sum payments, that can ease much of this financial burden.


If the cost of private schools still worries you, there are scholarships that every eligible student should take advantage of. Private schools offer applications for financial aid that you can fill out before school starts. Many private schools will even let a child go for nearly free if his or her family's income is less than sixty thousand dollars per year.


It's not an ideal choice but you can always pay for private school through loans. There are private loans specifically for private school tuition, or you might consider taking out a loan through your local bank. This might be an option for you.

 

And, don’t forget to check with your company because they might even cover the cost of your child’s tuition.

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