Good Financial Management Helps Ensure Your Child’s Private Education

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Giving your children the benefit of private education is an excellent gift. Smaller private or private religious schools have smaller classrooms, letting teachers give each child more time. A private school education, however, costs more, possibly making it difficult to find the money needed. Good financial management can help make it less challenging to keep them in a private school.

Understand the Cost

At the beginning of the school year or before enrolling your child, sit down with school staff to ensure you understand the total cost. This figure will vary from one school to another, as well as by location, and a secondary school will cost more than an elementary school.

On average, MoneyGeek says, a private K–12 school will cost about $12,350 per year. In addition, you will need to think about fees, electronics, books, transportation, lunches, school and sports uniforms, lab equipment, etc.

Ask About Financial Aid

Some schools may help lower and middle-income families with tuition. Experian mentions that some schools do. Also, having more than one child in a private school will often qualify for a discount. You may need to apply for the aid each year. Oftentimes, a monthly payment plan can be worked out—or working as a helper—in some way—in the school may also help reduce the cost.