Private high schools attainable for all family budgets
It’s time to start preparing for your child’s transition to high school, but before editing the list of prospective schools on account of cost alone, be sure to research financing options that may be available. Just because a private school is out-of-budget, doesn’t mean it has to be that far out of reach.
The best place to start your search is at the school itself. A majority of schools have a strong donor base, along with grants and other funds,allowing them to ease the burden of tuition costs for each family. Many also offer reduced tuition for each sibling after the first. Factors that contribute to deciding a family’s expected contribution stem from several considerations including, prayer, academic history and progress, and participation in the school’s parish and neighboring community.
Financing through a credit union is another option. College loans may be a well-known thing, but many families don’t realize that tuition loans are also available for financing a private high school education. Catholic Federal Credit Union offers families a 12-month payment plan that requires no down payment and can be put towards tuition, registration and comprehensive fees. Any immediate relative of a student, including grandparents, can apply for the loan.
A handful of scholarship and academic achievement organizations exist in Chicago to support inner-city education. The Big Shoulders Fund provides more than 30 scholarships each year to 93 local schools. While students and guardians are not able to apply directly to the organization for scholarships, school faculty and members and principals do submit on behalf of their eligible students.
Meanwhile, programs like the Midtown Educational Foundation are nonprofits that strive for academic achievement and college acceptances. In order to meet their goals and serve the vast number of students who walk through their doors each afternoon, the organization relies extensively on the funding of individuals and businesses. In addition to providing intellectual, spiritual and character education classes after school, they are able to provide a number of full and partial scholarships to students who show desire and commitment to attending area private schools.
For more information on how schools in Chicago may be able to help your family finance a private education, contact Mother McAuley Liberal Arts High School at (773) 881-6500.