Parents turn to private K-12 education for all kinds of reasons, from overall quality of curricula and individualized teaching strategies to location and religious affiliation. Now they may be adding another motivation to the list: overcrowded classrooms and public school bus rides just seem more dangerous in the age of coronavirus.
If you’re home-schooling your kids right now, the day they return to classes may seem like a distant dream. (How’s your blood pressure?) But September will come—with or without online classes. Chances are you’re making decisions right now that will affect at least a year of your child’s future. Chief among them may be how you will continue to finance your child’s private school education.
In 2020, the average cost of K-12 private school tuition reached $11,012. Depending on where you live and whether you have elementary-, middle-, or high school-age kids, your mileage may vary. But across the country, student loan debt has been increasing steadily along with the rising cost of education. K-12 loans aren’t subsidized by the federal government like higher-education loans. Still, many parents clearly believe that private school education is worth the investment. The question moms and dads should be asking themselves is, “How can I be sure I’m investing wisely?”
The global coronavirus pandemic has injected uncertainty into every sector of the economy. That’s true at the micro-level, as many parents join the fast-expanding ranks of unemployed workers. It’s also true for private schools, whose economic well-being is based on parents’ ability to