- Admissions
Maybe you’re looking for a private kindergarten or private elementary school, to give your student a strong foundation in their early education. Maybe you’re exploring private middle school alternatives for your student. Whatever your situation, there are some creative ways to pay for private school tuition that you may want to consider.
Maybe you’re looking for a private kindergarten or private elementary school, to give your student a strong foundation in their early education. Maybe you’re exploring private middle school alternatives for your student. Whatever your situation, there are some creative ways to pay for private school tuition that you may want to consider.
- Look for scholarships or grants: Many private schools offer scholarships or grants to students based on academic merit, athletic ability, or financial need. There are also external agencies that offer scholarships for attendance at any private school, including ACE Scholarships, Children's Scholarship Fund, Jack Kent Cooke Foundation, AAA Scholarship Foundation, Ron Brown Scholar Program, Denver Scholarship Foundation, and more.
- Apply for financial aid: Private schools often offer financial aid to families who demonstrate a financial need. You'll need to fill out a financial aid application and provide documentation of your income and expenses. Some private schools have limits to their financial aid offerings. Be sure to ask your contact in admissions for more information on financial aid.
- Start a business: Perhaps not surprisingly, our entrepreneurship focus means that we’re always looking for ways to support business owners and entrepreneurs! We’ve had parents who start businesses or side hustles that their middle school students could participate in, with the idea that their students would take over the businesses to pay for college tuition. We’ve also had students start businesses to support their tuition costs: from lawn mowing or car detailing to babysitting or lemonade stands. It gives students a practical experience at work, and helps them to understand concepts like time management, money management, and customer service in real life!
- Use a 529 plan: A 529 plan is a tax-advantaged savings plan specifically designed for education expenses. In some states, it can be used for K-12 education at private schools, public, or religious schools (unfortunately, this is not the case in Colorado and penalties for withdrawal apply). In other states, you may be able to save for private school tuition in a 529 plan and withdraw the funds tax-free. There may be an annual limit per beneficiary per year on withdrawals for elementary and high school tuition. Consult your accountant with questions about using 529 plans to pay for private school tuition.
- Host a fundraiser: Auctions, concerts, and bake sales are all ways families can raise money for tuition and bring a community together to support the success of a local student. From the local pool to your church and between: consider this option and seek approval before setting something up that might conflict with another fundraiser.
- Explore payment options: Some schools offer payment plans or non-traditional financing options, including employer tuition benefits. These options might allow you to pursue private schools that you might not otherwise have considered.
- Consider working at a private school: Many schools offer tuition benefits as part of their incentive package, which may make tuition more affordable for your family. Other schools offer a benefit of reduced tuition plus financial aid. Research on the school’s website for more information regarding the benefits of working at a private school.
These are just seven options, but there are likely more for creative parents and students. Thinking outside the box can lead to interesting solutions when you have your heart set on private school and need to make the budget work. Do your research and consult your financial advisor or the school financial aid administrators to share insights.
For more information on Tuition and Financial Aid at Aspen Academy, click here.
- Financial Aid