Paying For It

Money always talks. When you pay cash for something, no matter what that something is, you will get a better deal. Or the vendor will offer a cash discount. Or perhaps you can negotiate better terms. Nowadays the same thing applies to getting into private school. Assuming that your child offers everything the school is looking for, if the school knows that you do not need any financial assistance, you can be virtually assured of acceptance. Why is that? What's changed?

This video reports on the ways that the pandemic has affected schools.

The Perfect Storm

World events have a direct impact on private school endowments. They can shrink as much as 20-30%, even more, when the stock market becomes a bear market. You and I can see how a school's finances are impacted by reviewing their tax returns, the Form 990. Form 990 is the tax return not for profit organizations file each year. Most schools file at the end of their fiscal year which typically is June 30.

Added to the market conditions are the vast numbers of jobs that have been shed as companies have folded or downsized. That means there are fewer parents able to afford private school without at least some financial assistance. Another factor is that many parents who were counting on sending their children to private school are scaling back their spending. The result is that there are

Many parents find themselves facing financial challenges when it comes to paying for their child's private school education. It can be especially difficult when circumstances change unexpectedly, such as a job loss, medical expenses, or a decrease in income. However, withdrawing your child from private school or immediately resorting to public school may not be the only options. Let's explore some alternatives and steps you can take in different scenarios.

Scenario A: Uncertain Job Situation

If you're facing uncertainty due to a job loss or potential layoffs, it's understandable to feel concerned about continuing with private school. Before making any decisions, consider reaching out to the school and discussing your situation. Many private schools have financial aid programs in place to assist families during challenging times. By openly communicating your concerns, you may find that the school is willing to work with you to find a solution. They understand the importance of education and retaining students, so they may be able to offer some financial assistance or flexible payment options.

Scenario B: Unexpected Medical Expenses

When unexpected medical bills arise, and you find yourself in a financial bind, it can put additional strain on your ability to pay for private school tuition. In this situation, reaching out to the school and explaining your circumstances is crucial. They may be willing to reassess your financial aid package or offer additional support. Private schools are often compassionate and understand that unforeseen circumstances can affect a family's financial stability. By having

There are only a handful of free private schools in the United States. Most of them were founded many years ago by visionary, community-minded individuals who believed that children from working class and poor families should have the same educational advantages as children from families with money. The impact these schools have had on society is enormous. The benefits to thousands of students and their families are priceless.

As you read about these schools and watch the videos, remember that all of these schools believe very emphatically that an education does not consist solely of academics. Each of these schools understands that a child needs nurturing and counselling so that he can make the most of the opportunities before him. These schools expect the child's family to be involved. His education is a partnership of three: home, school and student. That's what it takes to provide the solid foundation a child needs in order to succeed in his adult life.

De Marillac Academy, San Francisco, is an example of the very best sort of educational initiative sponsored by the Roman Catholic Church. Established by Daughters of Charity and De La Salle Christian Brothers the school provides tuition free schooling for middle school age children in one of San Francisco's poorest neighborhoods. More about the mission of the Academy here.

The key to De Marillac's ability to accomplish its mission is the Academy's

No doubt about it, private school tuition costs are rising. Some schools seem to be rising at a faster rate than others. Why? What's behind those tuition increases? Unfortunately for many private schools costs of basic goods and services have risen dramatically. Energy costs alone chew up a major part of any school's budget. Faculty and staff salaries and benefits are a substantial part of budgets as well. In order to attract and retain qualified, skilled and experience personnel, you need to offer a decent compensation package with annual increases. Most schools also offer free or substantially reduced tuition for children of faculty and staff.

This video from ABC News discusses the benefits and costs of private school.

Reasons why private school tuitions are on the rise

Administrative costs are one reason private school tuitions increase year over year. Everything from employee compensation to insurance plays a part in this situation.

According to HowMuch.net: "The average cost of private school tuition has grown at a rate that is higher than inflation over the past 20-years. While there are several cost increases that have led to the rise in private school tuition, administrative employee compensation has been the main catalyst for the increases in private school expenses. The rise in the volume of employees who have a larger compensation package than a typical teacher has created the upward trajectory in private school tuition

The point of this article is to make the case for applying for financial aid, even if you think you might not need it. If you can afford to pay private school tuition, you have several payment options available to you. If you cannot afford the cost of a private school education, review Financial Aid 101. It will show you what to do. In every case, ask about financial aid. Private schools have generous financial aid programs. Financial aid is a tool that private schools use to make their school more diverse. Yes, many years ago, private schools had a less than positive reputation for being elitist. But thankfully, times have changed. Being able to pay for a private school education is no longer the only thing that matters. If your child has the qualifications which the school is looking for but you cannot afford to send her, then financial aid is certainly an option which you need to explore.

In this video, the experts at Admissions Quest offer advice on how to apply for financial aid.

Le Rosey which bills itself as 'the prestigious international boarding school' tops the scale at a princely $114,000 in tuition for 2019-20. Boarding and sundries are not included. The school is located in Switzerland and is owned by a Swiss couple who are 'Les Directeurs'. What sort of clientele enjoys Le Rosey's proximity to