Tuition Planning Advanced planning is your best option for financing a private school education. The first step in planning for education financing is to contact the admissions or business office at your child's current or prospective school. The financial aid officers at the school can help you learn about available financing options.
Today, a large number of private school students receive financial aid. Many schools offer financial aid in the form of merit awards and need-based scholarships. Based on eligibility, these awards can help make a private school education more affordable. Financial aid grants may cover a significant portion of your child's tuition depending on the school and eligibility.
About Private School Student Loans In addition to scholarships and grants, there is another valuable resource to help you pay for your child's education, particularly when grants and scholarships don't cover all the costs. In the past fifteen years, the emergence of private k-12 education loans has made all types of private school education more accessible. Private student loans are an excellent option that will help you avoid dipping into savings or using high-interest products...
- Abell Foundation, Inc. (MD)
- BASIC Fund (CA)
- Bay Area Scholarships for Inner-City Children Fund
- Baltimore Educational Scholarship Trust
- A Better Chance
- BISON Scholarship Fund (New York)
- Black Student Fund (DC)
- Boys' Club of New York
- Byrne Urban Scholars (CO)
- Capital Partners For Education (DC)
- Catholic Schools Foundation (Massachusetts)
- Central City Scholarship Fund (St. Louis)
- Children's Education Fund (Dallas)
- Children's Scholarship Fund (TX)
- Commonweal Foundation (MD)
- The Daniel Murphy Scholarship Foundation (Chicago)
- Community Caring Program (Detroit)
- The Denver Foundation
- The Independent Scholarship Fund
- Inner-City Scholarship Fund (Boston)
- Inner-City Scholarship Fund (New York)
- Latino Student FunD (DC)
- LINK UnlimiteD (Chicago)
- Maine Community Foundation
- Office of Navajo Nation Scholarship & Financial Assistance
- New Hampshire Charitable Foundation
- Partners Advancing Values in Education (WI)
- Philadelphia Society of Friends
- Prep for Prep
- Rhode Islanders Sponsoring Education
- Scholarship Fund for Inner-City Children (NJ)
- School CHOICE Scholarships, Inc. (KY)
- Shepherd Foundation (DC)
- Skillman Foundation (MI)
- Student/Partner Alliance (NJ)
- Tri-County Scholarship Fund (NJ)
- Vermont Student Opportunity Scholarships (VT)
Financial aid for expats is generally not available. The assumption is that your company will pay for your child’s education as part of your compensation package. That’s fairly standard...
The only remedy you have is to sign up for the school's refund plan. It typically acts like insurance in the event that your child withdraws before end of year. The insurance plan will pay for the unused/remaining portion of your child's time at the school. You contracted to pay for an entire year when you signed the contract with the school at the time she was accepted. You do not want to be out of pocket. Neither does the school. This is why tuition refund insurance is an important part of your planning for a private school education. Tuition refund policies are in place at every private school regardless of whether it is day or boarding, large or small, elementary/nursery school or high school.
St. Mary's policy is the sort of thing you can expect at most schools:
"To minimize the loss to a family due to early departure or change in boarding status, Saint Mary’s School has established a Refund Plan. Under ordinary circumstances, the Refund Plan...
So, what's happening here? Why are these highly competitive schools offering a free education to children from families with incomes below $75,000? Simply because they want to make their excellent educations available to a wider constituency. When tuition and expenses creep into the $45,000 range, it means that only a tiny percentage of American families can afford to attend those schools. Schooling has to be free in order to attract students from families making less than $75,000.