The Ultimate Guide to Understanding Financial Aid

Although private school has a reputation for being expensive, it can, believe it or not, actually be affordable for everyone. If there's a will, there is a way to afford a private school education. From full scholarships and free tuition to financial aid and scholarships, here are some of the best articles we have on how to pay for private school.

Scott Olson/Getty Images

While many parents experience extreme sticker shock when they see the price of tuition at private schools, it is important to remember that paying for a private school education is not like paying for a new car or making a down payment on a house, despite the fact that the costs may be similar, because, at private school, financial aid is available for qualified families. About 20-30% of private school students nationwide receive financial aid to defray the cost of tuition, which averages about $20,000 at day schools (and could be closer to $40,000 in many urban areas on the East and West Coasts) and over $45,000 at many boarding schools. Find out how schools determine how much aid a family receives in this article.  More »

financial aid and private scholarships
Peter Glass/Getty Images

 With many private school tuitions rivaling those of college, the financial investment might make some families feel as though they have to attend the local public schools vs private schools. But, what many families don’t know is that there are options, and a high tuition amount doesn’t mean that it is impossible to afford a private school education. There are several ways that families can make attending a private high school more reasonable, including financial aid, student loans, and even private scholarships. Find out more about important funding support options in this article.  More »

school voucher private scholarships
Jamie Jones/Getty Images

Vouchers are essentially a payment coupon that allows a family to enroll at a private or parochial school using government funding. Some people consider these akin to scholarships, but this is a program that basically offers a certificate of government funding that parents can sometimes take advantage of if they opt to not attend the local public school. Not every state offers this program, though. Read this article to learn more and find out if you might qualify. More »

private scholarships
Talaj/Getty Images

While full scholarships are not necessarily the norm at most private schools, they do exist. Families who are interested in having the full cost of a private school education covered should not only look for these coveted scholarships but also look at schools that offer generous financial aid packages. This article lists several schools that offer full tuition scholarships and/or full financial aid for qualified families.   More »

payment plan, private scholarships
NuStock/Getty Images

While you may think that there is little financial aid for private schools, there are some sources of funding that you may not have thought of. Check out this article that offers additional suggestions on how to afford private school tuition.  More »

PM Images/Getty Images

Paying for a private school education requires tremendous sacrifice for most parents. When the bill for tuition costs as much as a luxury car, how do you manage to pay it annually for four years? On top of that, you likely want to ensure that you're getting a return on the investment (financially speaking at least, it's up to you and the school itself to ensure that your child succeeds). When it comes to softening the blow on your wallet, here are six ways to manage those large tuition bills.  More »

Oakdale Christian Academy
Oakdale Christian Academy. Photo © Oakdale Christian Academy

Many boarding schools today charge tuition of more than $50,000 a year, but we're here to help you find some of the cheapest boarding schools around, and we're not skimping on the experience either. Just because the tuition is lower than many of the other boarding schools doesn't mean that these schools don't offer a high quality of education. Some of the top boarding schools in the country have passed initiatives that make a quality education affordable for lower income families, and in some cases, attending boarding for free is even a possibility. Read more about these unique schools and their affordable programs. More »

mla apa chicago
Your Citation
Jagodowski, Stacy. "The Ultimate Guide to Understanding Financial Aid." ThoughtCo, Dec. 15, 2016, Jagodowski, Stacy. (2016, December 15). The Ultimate Guide to Understanding Financial Aid. Retrieved from Jagodowski, Stacy. "The Ultimate Guide to Understanding Financial Aid." ThoughtCo. (accessed March 19, 2018).