Don’t let the cost of boarding school deter you. From private loans, to scholarships, there is help available. When is payment due? Does your boarding school offer a tuition payment plan? How much financial aid is available? In this section you’ll find the answers to these questions and more.
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1. You have to apply for it.
Applying for financial aid at most private schools is a separate process from applying for admission to the school. You also need to make sure that you apply early. This is particularly important if the school has no specific admissions deadline or rolling admissions. Each school has allocated a specific pool of funds for financial aid. Once it is spoken for there generally are no more funds in that academic year.
This video explains how to apply for financial aid.
One of the first questions parents ask about sending their children to boarding school is how to pay for it. Boarding schools charge from $25,000 to $65,000 a year. That is a lot of money for most of us. Since I am not Boston Kennedy but rather a poor Scots-Canadian, I remember well confronting that reality when we were investigating schools for our daughters. With that experience very much in mind, I have created this hub as a guide to the financial side of things as you explore boarding schools.
How Do They Pay for It? examines the answers to a question one of my young employees asked me when he discovered that many boarding schools cost significantly more than what he made in a year. He didn't realize that most private schools offer financial aid.
Financial Aid 101 explains how financial aid in private schools works. Private schools give families millions of dollars annually to help them afford a private school education. Even families who have incomes in the $150,000-$250,000 range can be eligible for financial assistance depending on their financial situation.
Paying for Private School introduces you to the several payment options available to you. The important concept to understand here is that if you need financial assistance to send your child to boarding school, ask about it at every school on your short list. Always ask.
Making the Financial Aid Process Work for You walks you through the financial aid process one
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