How can you afford Private School Tuition?
How parents pay for private school, courtesy of Bankrate.com.
As I’ve mentioned before, I went to a private school. I had financial aid to attend. I was a ’scholarship’ student. I took out a small loan for my junior year of high school, which my mother, thankfully, paid behind my back sometime when I was in college. But most of my tuition was grant money direct from the school and out of my parents’ pocket, particularly because my folks were paying a college tuition for my older sibling at the same time.
The best quote of the whole article? The rule for financial aid: If you need it, ask.
It’s true. We didn’t even know there was an option for financial aid when I first applied and attended. I only found out about it from a friend who was a scholarship student. Boggles the mind how they scraped up $7K for that first year.
All kinds of schools have financial aid, and many elite private schools have endowments that rival small private colleges. During the charitable giving season this year, consider a donation to your alma mater so that they can offer financial aid to someone who deserves it.
Debt Hater wrote:
I don’t know how people pay for private school, even with the financial aid. I went to Catholic school for the first 8 years of my schooling (but we are not Catholic. We are Pentecostal Christians, which is about as different from Catholic as Muslim — well, I am exaggerating a little) and I still don’t know how my mom did it. We had no plan for my college education at a fancy NE liberal arts school, but I was applying for scholarships and what not everywhere. Thank God, I walked away with just $4,000 in school loans for 4 years of school and that’s been paid off.
Posted on 07-Dec-06 at 6:29 pm | Permalink
Scott wrote:
Just FYI…you’re about to be “outbid” on Prosper.
I really appreciate your bid though!
Posted on 07-Dec-06 at 7:21 pm | Permalink
English Major wrote:
I went to private school through 6th grade, and then tested into a public magnet high school. Then I was back in private college. Meanwhile, my sister went to public elementary school for a couple of years, transfered to the private school where my mother taught (thus, tuition was free), and was back to full tuition starting in eighth grade and continuing for two and a half more years to college graduation. Neither of us ever saw a dime of financial aid–it boggles my mind when I think of how much my parents have spent on giving us the best educations possible. As it was for them, education for my children would be absolutely my first priority if I were to end up having children, but I still don’t know how I’d afford it.
Also, Bankrate has another article about financing private college, in the same vein: http://www.bankrate.com/yho/news/advice/college/20060516a1.asp
Posted on 08-Dec-06 at 10:22 am | Permalink
The Personal Finance Weblog wrote:
Other Voices: Links for 12/8/06…
Advice on money… Ben Stein: If you're not rich, please don't show off at this time of year by spending money you don't have. My Open Wallet: …I do tend to enjoy business travel, and of course some of the……
Posted on 08-Dec-06 at 1:19 pm | Permalink
50+ Tips, Ideas, Resources on Saving Money for College Students — Broke Grad Student wrote:
[…] How Can You Afford Private School Tuition? at Mapgirl’s Fiscal Challenge […]
Posted on 31-Jul-08 at 6:03 am | Permalink