The Nuts and Bolts of Financing a Private school education for your child

A  New York City private school education comes at a cost. The annual tuition can range between 18,000 on the low end of the spectrum to about 33,000 a year. Many school have the ablity to support a family by offering tuition assistance awards  to families that have  demonstrated a financial need. Some schools can offer about 50% while others offer less. All Families are expected to contribute to the cost of their children’s education. How schools make their determintion of how aid in awarded are in several ways. Many schools use the SSS service that you fill out a form the sss make their own calculation and then send their findings based on the information that you have provided to them about your financial picture. The school in turns reviews their findings along with detrmine how much aid that particular school has in their budget. Some schools offer  financial aid by a sliding scale and other schools make their decisons internally without the assistance of an outside party. The options for paying for tuition are paying half of the amount of tuition in July of that yearthat your child will be attending the school, and the remaining balance in January of the following year. There is another option by payng tuition in monthly installments set up by a company called AMS. The final option is financing your child education by taking out a loan.

Published in: on April 5, 2009 at 4:31 pm  Leave a Comment  

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