How to Pay for Private or Catholic School Tuition in a Recession Economy

Difficulty: Easy

Instructions

Things You'll Need:

An open mind
Willingness to sacrifice

Step 1

Check into scholarships that the private or Catholic school offers. We offer several scholarships that people can take advantage of at our school, including a really helpful one just for pre-school that basically makes pre-school free. The school' s business manager or financial aid facilitator can be very helpful. Ask and keep asking.
Step 2

Check into work study programs for you or your children. We often have older students working in the summer for tuition money. And many times parents can barter skills they have for tuition discounts.
Step 3

Start or work with a scrip program at your school. Our school has a program where parents buy gift cards for their regular day to day purchases for groceries, gasoline, clothing, etc. A portion of the money they pay goes to their tuition. They lose no money because they pay $20 for a $20 gift card, but a percentage (like 7%) goes to their tuition. This adds up to a nice chunk of money in the course of a year, and many families have grandparents and other relatives buying scrip (gift cards) toward their children's tuition.
Step 4

Ask grandparents, godparents, aunts, and uncles to contribute to your children's tuition instead of buying super expensive presents that are broken the next day. I'm not suggesting your child go without Christmas or birthday presents, but perhaps a less expensive present and more tuition money could be factored in. Some schools even have a program where a person can purchase a voucher or certificate for the tuition money they donate.
Step 5

If your budget isn't terribly tight, you could set up an educational savings account for your child. The money you put in is tax deferred, and it can be used for tuition even high school - you don't have to wait until college to use it!!!
Step 6

You or your child could get a part-time job. I know many older students that have made very good money babysitting, delivering newspapers, and mowing lawns. Contributing to his or her own education is beneficial to children and helps them achieve success later in life.
Step 7

Trim down take out and eating out. Americans spend a considerable amount of money on eating out. Take a good look at how much you spend on it in a day and then a week. Start multiplying and you will be amazed at how much you could save by just making sandwiches or mac & cheese at home even one or two nights more a week. The same is true of lunches. Could you and your child pack your lunch a few times a week?
Step 8

Delay expensive vacation plans until a happier economy reigns. Family vacations are wonderful, but they can be just as fun closer to home and in less expensive venues. Consider a camping trip or an excursion to a nearby amusement park. Save the 10 day cruise for another year. Your kids really just want to have fun with you anyway - the place is not as important as you think.
Step 9

Save money on uniforms for your children by having them wear clothes gently worn by older brothers and sisters or older friends in the school. Our school offers a uniform exchange program that helps parents save on the price of clothing. Start one at your school or take advantage of the one that exists.
Step 10

On the same note, bargain shop for clothing and other basic needs. Use coupons and take advantage of clearance racks. Buy the brands your children "must have" at stores that sell them at a discount or look for them on ebay.
Step 11

Have a fund raiser! Have a yard sale or sell items on ebay.
Step 12

Similar to taking a look at the amount of money you spend on eating out, take a look at what other items you purchase on a regular basis. The "latte factor" has been mentioned by many financial gurus as a way to save money or find money you didn't know you had. The concept is that you may purchase a latte every day or a muffin or a pack of cigarettes. Save the money and your health by giving up the habit or making it an occasional treat instead of an everyday purchase.
Step 13

If you have most of the money for tuition, but you're not sure if you can manage all of it. Talk to the school personnel about it. Several times in my history in Catholic education, a benefactor could be found who would help with a portion of the tuition in extenuating circumstances.

Comments

gingerdavis said

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on 1/10/2010 Great article! Our six children all went to private school for 11 years and we took advantage of scholarships and the gift card program, as well.