A common myth is that private schools are only for children of the rich. Not true! Most offer financial aid, so don’t assume your family won’t qualify or that you can’t afford to send Junior to the best school. Here’s how your family can maximize the financial options available:
Check out both merit and need-based scholarships offered by the school. Depending on the size of the school’s endowment, your child may qualify for aid.
Large national K-12 scholarship and voucher programs make a quality education within the reach of most families.
Sending two or more children to the same school? Ask about sibling discounts.
Paying cash? You may qualify for a discount.
Spread it out. Most schools offer payment plans so you can spread out tuition costs.
A tip to gauge your financial aid needs. After adjusting your finances, if you still can’t set aside 10 percent of the tuition each month for 10 months, you might be a candidate for aid.