Private School Financial Aid
Paying for private school can be expensive. Although this is true, there are many schools in the Atlanta area that provide financial aid to ensure students have the chance to enroll, regardless of their financial circumstances. Financial aid is monetary assistance provided from a school to reduce the costs. Eligibility to receive aid is based on many factors such as income, assets, family size and number of siblings in private school. To find out if a school you are interested in provides financial aid, call the admissions office or take a look at their website. Each school will send applications to complete that have to be returned by a certain deadline they determine. While thinking about private school tuition costs, it helps to keep in mind other costs such as uniforms, meals, books, supplies, trips, participation in sports or clubs and transportation.
There are four different types of financial aid for private schools. The first of these are Need Based Grants, which do not have to be repaid. Schools require families to complete an application to determine their ability to contribute to educational expenses. If a family has needs, they may be provided with a grant to lower the amount. The next type of financial aid is Merit Awards. These are awards or scholarships based on other criteria than financial circumstances. These may be given for athletics, art, music or academics. A third choice for financial aid are Tuition Payment Plans. These payment plans are coordinated between financial services and the school. Instead of a lump sum payment, families have the choice to pay monthly. The last type of financial aid we will discuss in this post are Tuition Loan Plans. This is when a lender spreads payments over a longer period of time than payment plans allow.
Go to sss.nais.org to see a list of companies that offer tuition payment plans and loan programs.