Funding the Future

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.

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 some of the best skiing in the world? You guessed it: children of the rich and famous from every corner of the globe. The school does offer some need-based scholarships.

Whether you are a parent looking to send your child to a private K-12 school or your child is currently enrolled in one, you are probably exploring your options for how to pay for tuition and the other costs associated with a K-12 school. The following information will guide you as you consider the many loan program options available to help you pay for your child's private education.

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. Waiting until the last minute is never a good idea regarding financial matters. By starting your research early, you give yourself time to plan to pay for this major expense on the best terms possible.

Today a large number of private school students receive financial aid. Many schools offer financial aid through merit awards and need-based scholarships. Based on eligibility, these awards can help make private school education more affordable. Financial aid grants may cover a significant portion of your child's tuition, depending on the school and eligibility. Knowing what a potential award might be helps you plan your borrowing.

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

The number of organizations offering scholarships for private school students is limited. In addition to the list of organizations below you should also check to see if your state has and Scholarship Funding Organizations. Apptoximately 14 states have SFOs. Most admissions officers will be able to advise you about scholarships available in your area.

• 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)
• Capital Partners For Education (DC)
• Catholic Schools Foundation (Massachusetts)
• Children's Scholarship Fund (TX)
• Commonweal Foundation (MD)
• The Daniel Murphy Scholarship Foundation (Chicago)
• 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)
• Washington Scholarship Fund
• Wight Foundation, Inc. (New Jersey)
• YES Opportunities, Inc.

Charter Schools
Is a charter school a private school? No. It is a public K-12 school. It receives public funding but operates without some of the arcane regulations most public schools must abide by. Read 10 Things To Know About Charter Schools. Charter schools can be found in most major urban areas. Some of them are well-run and funded adequately. Others have been a financial disaster. Charter schools tend to be small and have small class sizes.

Vouchers
The idea behind vouchers is to give lower income families an alternative to poorly performing public schools. Vouchers are a lightning rod in educational circles. Teachers unions universally despise them. Politicians avoid them. In places where voucher programs have taken hold, such as in Milwaukee and Cleveland, the response has been positive. The points of contention have to do with the use of public funds to pay parochial school fees and the diversion of public funds from public schools.

What vouchers are really all about is an attempt to provide some kind of school choice for parents with children in poorly performing public schools.

Tuition at private schools ranges from $5,000 a year for primary grades in a parochial schools to over $60,000 a year for boarding school. Like the wide range of private schools available, the costs vary greatly for several reasons. Sound management and healthy endowments are two major reasons some schools seem to be able to offer more for less.

Remember: American private schools receive no state funding, yet they must comply with all the laws and regulations which affect their daily operation. Retrofitting older buildings with new technologies, maintaining extensive physical plants, coping with soaring health and liability insurance, legal, and energy costs are just a few of the factors which come into play in determining tuition fees. While private schools are theoretically exempt from property taxes, most of them make substantial contributions to their local towns and cities to help offset the cost of maintaining police and fire protection. The overhead at a private school is enormous and complex with all the attendant impact on fees.

There are a host of ‘extras’ which also must be factored into the cost of an American private school education. Text book and academic material fees, sports fees, clothing, uniforms, transportation to and from school, application fees – the list seems endless. Most schools will provide a breakdown of the ‘extras’ for you upon request.

Financial Aid

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