photo credit: Andres Rueda
Private School tuition payments are not a cost that comes out of the blue. It is a cost associated with a long-thought-out plan and course of action that your family and your child has worked diligently towards. The uniqueness in this current tuition environment, however, means that many parents and families are now facing financial difficulties that simply weren’t expected or planned for. In some cases, one of the parents may have been laid off from work, or have taken a salary decrease to avoid layoffs.
The changing financial environment means that families who filled out and applied for financial aid may have seen their situation change even since the original application. Some families who may have not originally applied for Financial Aid at all have recently seen their financial situation deteriorate and are now wondering if it may be too late to apply for Financial Aid.
Peter Baron from AdmissionssQuest recently held an excellent pod cast with two industry experts about approaching Financial Aid during difficult economic times.
Their suggestions to families include:
Opening & maintaining a dialog with admission and financial aid officers at the start of the application process
Understanding evaluation for needs based aid
Prepare to document your financial condition
Explore tuition payment plans & loans
Ask the financial aid officers about resources. They know the foundations and sources interested in supporting their students.
To listen to the pod cast about Financial Aid, click here on Private and Boarding School Financial Aid during tight times.
The excellent pod cast from Peter will serve as a very informative and soothing voice of reason and help for those families who are worried about their finances and how they will afford their child’s private school education.