Financial Aspects

Finding the right private school for your child is a major process in and of itself. It is time-consuming with lots of steps, deadlines and forms to fill out and submit. Then, of course, you have to deal with the issue of how to pay for that private school education once you have identified the right school. Against this backdrop let's you and I figure out how to make the financial aid process work for us.

Start early

The key to success with any major project is to begin early. Taming the financial aid part of getting your child into private school begins with knowing how much you can afford to pay. Have that number worked out and clear in your mind. The most effective way at figuring out what you can pay is to review your income and expenses. Determine what you can afford to pay monthly for your child's tuition. Project that number also as an annual amount. Now bear in mind that this is a rough cut because what you are going to be doing very soon is completing the online documentation known as the Parents' Financial Statement or PFS provided by the School and Student Service (SSS) organization operated by the National Association of Independent Schools (NAIS). The PFS will require accurate financial information about your income, expenses, and assets as well as information about any other children who are in tuition-charging schools, i.e., private school. Having that rough idea of how much

Paying for Private School: 7 Options

I am always sad to hear parents rule out sending their children to private school because it is too expensive. The conversation usually begins with one of these facts as the reason for considering private school:

1. Their child is gifted.
2. Class sizes in the local public school are way too large.
3. Their child has a learning disability.

Any one of these reasons is a valid reason for considering private school. Unfortunately, that is as far as considering a private school gets in most cases.

• Why? Because either the parents assumed that they could not afford private school.
• Or, perhaps, they looked at the tuition and fees page on a school's website, and they panicked.

Considering sending your child is a major decision.

• As with any major decision, it makes sense to do your due diligence before ruling anything out.
• When you take time to do a thorough investigation of the facts, as opposed to your assumptions, you just might be pleasantly surprised at what you discover.

That applies equally to paying for private school.

Here are seven ways you can pay for a private school education. One might prove to be the answer you are looking for.

1. Write a check.

Some people can afford to write a check for their children's private school tuition. If you are in a position in life where you can do this, don't forget to

5 Financial Aid Dos and Don'ts

Dealing with private school financial aid can feel like conducting a complex symphony - each section must be perfectly timed and harmoniously arranged. From understanding why costs vary dramatically between institutions to knowing exactly when to submit your applications, the process requires careful orchestration. Whether you're considering a prestigious boarding school or a specialized day program, this guide will help you master the intricate movements of financial aid applications, revealing key strategies and common pitfalls to avoid.

1. DO Understand Why Some Private Schools Cost More Than Others

Several factors drive tuition costs. Location, facilities, and type of school are three of the most important factors.

Location

Some schools cost more than others simply because of where they are located. Real estate prices vary widely throughout the United States, as you well know. For example, it costs considerably less to rent space in Butte, Montana, than in Los Angeles, California. Insurance costs vary from locality to locality as well. Schools need comprehensive liability and property insurance. That's not an expense a prudent private school business manager will stint on.

Facilities

The school facilities vary widely as well. A K-6 school with twelve classrooms located in the 10-year-old education wing of a church or temple will cost less to run than a similar school housed in a 1930s mansion set on 30 private acres in the countryside. A school with extensive sports fields, riding stables, a natatorium, and a hockey rink, together with

You and I can understand the average cost of tuition of private schools as detailed in Private School Review by being aware of a couple of factors. We will take a look at those factors and also show you how the cost of a private K-12 education varies from region to region. That way, if you have to move from one location to another, you will have a general idea of what to expect as far as your private school expenses go.

We will begin with a look at how the cost of elementary schools compares with schools offering high school grades.

Costs subsidized by religious organizations

Let's examine one reason why average tuition costs can be less in one area than in another. That has to do with the number of religious schools included in the statistics. I am not being negative here. Just factual. Faith-based schools, be they Roman Catholic, Jewish or Christian, or any other religion, tend to be subsidized by their religious organizations. For example, a temple that establishes an elementary school will do so to serve its congregation in the first instance and then as an outreach to the wider Jewish community in the second instance. The tuition generally will be discounted for families who are members of the temple. This practice is similar to how state universities charge less for students who are state residents as opposed to students who are from out of state.

This video offers an overview of

Comparing private school tuitions from one school to another is in so many ways the classic apples to oranges comparison. Why? Because each private school is unique. Each school has its own expenses and sources of revenue. But the variables implicit in the calculation of tuition cost are what drive the numbers. Income and expenses are unique in the same way each private school is unique. With that apples to oranges analogy in mind let's look behind the numbers we see on Average Private School Tuition Cost here on Private School Review.

Understanding tuition

In its simplest form tuition is the amount of money that a school charges for educating your child. Tuition is revenue or income on the school's balance sheet. This is the dollar figure which a school has to charge per student in order to offset all the many and varied expenses of running the school.

To arrive at the amount to charge per student the school has to add up all of its expenses. From that total, it subtracts any income from investments, endowments, and gifts. That net expense is what our tuition charges must offset. To remain viable a school simply must balance its budget. It cannot spend more than it takes in. If it does, it will soon go out of business.

The number of students for which a school has places is the next part of the calculation. For example, if you only have places for 350 students and your