Several private companies offer financial assistance for private high school tuition.
Paying for private school education can be a large out-of-pocket expense. Thousands of schools and numerous private companies provide financial assistance to help out with these high tuition costs. With the right information and planning, families can take the necessary steps to secure financial aid so that a private high school education is more affordable.
Your Tuition Solution
Your Tuition Solution offers a fixed rate financial aid assistance program for students in kindergarten through 12th grade. This financial assistance can be used at more than 12,000 schools in the United States, including accredited preparatory schools, boarding schools, religious schools and Montessori schools. Tuition Solution allows financing starting at $2,000 up to $40,000. Allowed educational expenses include tuition, room and board, books, activity fees and computers. As of 2011, rates start as low as 5.99 percent APR. There are no application fees or obligation with Your Tuition Solution, and most people receive a decision within the next business day. Loan terms range from 18 to 72 months.
Sallie Mae
Sallie Mae offers private high school assistance to cover all education-related expenses called the K-12 Family Education Loan. Loans begin at $1,000 and can cover tuition, room and board, books, musical instruments, sports activities, computers and other extracurricular activities. Sallie Mae offers competitive rates with a flexible rate that can be repaid over a one- to four-year term. As of 2011, rates vary between 7.38 percent and 13.94 percent.
Act Education Loan
The Act K-12 Education Loan program offers financial assistant for high school, preparatory school and other specialized education tuition. These loans are offered through Key Bank. The Act Education Loan limit is $30,000 per year with an aggregate total limit of $130,000. As of 2011, loan rates are 4.95 percent plus 6 percent in fees. The repayment term is up to 20 years. In addition to loans, Act Education Loans offers monthly scholarships.
FACTS Grant & Aid Assessment
FACTS Grant & Aid Assessment offers a tuition management program that assists with the payment of private high school tuition. This program helps families manage the cost of tuition by providing budgeting services and tuition management advice. Instead of paying an entire year's worth of tuition in one lump payment, FACTS allows for smaller payments spread out over time. FACTS also works directly with more than 5,000 private schools to help assess financial need and allocate financial assistance to families most in need.
Tags: financial assistance, high school, Education Loan, private high, private high school, Tuition Solution, Your Tuition Solution