Can You Afford Private School?

Are you considering private school, but unsure if it’s affordable for your family or questioning where to begin? Many think private school is financially impossible, but there’s good news: Nearly every private school offers financial aid. And many schools have specific missions that aim to help as many people afford attendance as possible.

When my oldest daughter was preparing for kindergarten, we realized we weren’t comfortable with our local district school. However, we were a single-income family with three kids, so we thought we couldn’t afford private school. Then we found a school we loved and they explained their financial aid program. It wasn’t easy, but we were able to make it work.

If you’re in a similar situation—you’d love to switch to a private school but aren’t certain you can afford it—contact your preferred school. Ask them about their financial aid options and if they are still accepting applications. While some charitable donations are down because of COVID-19, others have increased their giving. 

There isn’t a central location to apply for scholarships, so your first step should be to contact the school you’re interested in attending.

Pennsylvania parents are fortunate because we have two tax credit scholarship programs: the Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC). These programs allow businesses and individuals to receive tax credits in exchange for donations to scholarship organizations. The organizations then work with private schools to help families below a certain income receive scholarships.

The EITC is eligible to families throughout the state; the OSTC is available to families whose districts are among the lowest performing in the state.

These programs fund scholarships awarded through scholarship organizations, which your area private schools should be familiar.

Don’t assume private school is too expesive for your family—reach out to the schools you are interested to learn about their financial aid and scholarship programs.