Paying For It

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 experienced 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.ne: "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 costs.

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

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

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 Scholarship Funding Organizations. Approximately 14 states have SFOs. Most admissions officers will be able to advise you about scholarships available in your area.

Organizations Offering Scholarships

• 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.