For many parents, cost can be a large deciding factor for where their child goes to school. The average annual tuition for United States K-12 private schools is $12,350. You might not need to pay that much out of pocket, though. There are many ways your family can pay for private education with state or local help. If you’re wondering how to afford private school, consider our favorite financial assistance opportunities. As a parent, there are a few steps you can take to set your child up for success when it comes to learning online.
How to Afford a Private School
Private school costs will vary, and so will your choices for payment. Here are five ways to afford private school fees and tuition:
- Apply for scholarships: If you apply to the right programs, your family may be able to afford even the schools on the higher end of your budget. The Children’s Scholarship Fund (CSF) is an excellent resource for scholarships awarded across the United States. Application timelines and age limitations will vary, so it’s best to get a head start on your research.
- Seek state assistance: There are many state-based support options for low-income families or students with special needs. The American Federation for Children (AFC) has an interactive tool to show which states give vouchers or tax credits to families in need. Vouchers provide upfront funding, and tax credits can save you money after your child has enrolled.
- Finance with bank loans: Many banks and online loan providers are now offering K-12 private loans. They often have lower interest rates than personal loans, and they can be a good option for families that need payment alternatives. Be sure to research the application requirements and rates to find the best one for you.
- Consider religious schools: The average annual tuition for Catholic K-12 private schools is less than half the average cost of nonsectarian schools. Some places of worship might also offer scholarships. If your family practices a specific religion, you can ask your local leaders if they know of any funding programs.
- Do your research: Some parents have a stereotype of stuffy, expensive private schools in their minds. In reality, there are many private schools for families with different price ranges. With help from ScholaMatch™, you can identify which schools are already within your budget and assess your options.
The price tag of private schools doesn’t have to hold you or your child back. Be sure to consider all your resources before ruling out private education.
Find the Right School for Your Budget With Schola
Choosing the right school for your child can feel like a balancing act. Schola is here to lend a hand. With the help of our ScholaMatch™ Quiz, you can get a list of the best private schools for your child in under five minutes. If you have questions about your child’s private school options, get in touch with one of our enrollment advisors today!