You want the best for your gifted child. But what is the best? If you are certain that your child is indeed gifted, you want the best formal education possible. If you feel that your local public school may not be able to provide the optimum environment to help your child realize his or her true potential, you may want to consider a private gifted school.
Maybe you have looked into this already and have reservations – primarily because of the high cost. You have conflicted feelings about wanting the best education but knowing it would cost you more than you can handle right now. You simply don’t have the resources.
Then there is college to consider. That will be costly as well. Do you save for college, or just wait until that time to check out possible financial aid?
You can try to modify your style of living, cut back on cable TV or travel plans, and take a cheaper vacation or make some other modifications.
Or do you start now to see what kind of assistance you can get for your child at the Pre-K to 12 levels?
Why look for help now?
Child educators and child psychologists feel that the early years are critical for developing the basic skills of reading, math and language. Beyond that, it is also the best time to develop a love for learning, which in the end may be more important.
The third reason is to support your child’s emotional and social development. Gifted children are highly driven, obsessive and compulsive, want to master all that they attempt to learn, and fear failure. They may in fact experience failure and not know how to handle it. Private schools could be the answer.
The early years form the foundation of your child’s educational future – the knowledge, skills, desire, social and emotional confidence needed to keep striving for excellence.
If you are thinking about college for your gifted child, then a private school may provide the advantages to prepare your child for the intellectual challenges they will face later.
Private schools may offer smaller class sizes, more individual attention, more flexible programming, better resources, and more college-preparatory courses than your local public school.
Where should you look for financial help?
Let’s get back to the finances. Where should you look for help? There are several possibilities. Here are a few.
Financial Aid
Many private schools offer some form of financial aid, some of it based on need that doesn’t have to be repaid. This assistance is sometimes called a Grant. You should ask if the school you are considering has this option. You may have to fill out some paperwork on income, etc., but it’s worth the time and trouble.
According to the National Association of Independent Schools (NAIS), the average tuition for its member schools was $19,100 in 2012. But there are private schools that have tuition in the $20-40,000 range, and a few approach the upper tier of $60-70,000.
But don’t get discouraged. NAIS says that some schools offer financial aid to nearly a third of their students; other schools, almost a half.
Student Loans
Most banks offer special rates for school loans. So do some local organizations. There are also some government loans available, and the payback time is extended to reduce monthly payments. Interest on student loans can also be tax deductible.
SallieMae is a financial services organization that provides educational loans for elementary schools as well as for college and is worth checking out.
Scholarships
Schools offer scholarships (sometimes called Merit Awards) to students who offer promise but come from lower income families. Churches and other local organizations are also sources of possible scholarships.
The scholarship amounts may not be too significant but can be combined with other avenues like loans and vouchers.
Vouchers
If your child has learning disabilities like autism, needs special programming, and your public school does not provide it, they may offer a voucher alternative.
The voucher can be used at a private school for the course or special support your child needs. Through vigilance on your part, you can identify these opportunities.
Payment Plans
There are organizations that can help you manage tuition payments. One of them is FACTS Management, a company that provides private and faith-based schools with financial aid assessment and tuition management programs.
How do you apply for aid?
Although you should check with each school and/or organization for details on their financial aid requirements, in general you probably will need to fill out a Parents Financial Statement (PFS).
The NAIS offers School and Student Services that include walking you through how to fill out the PFS and estimate the amount you can contribute to your child’s private education expenses.
The NAIS forwards the form to the schools you are considering. You fill out just one form, no matter how many children you have applying or how many schools you are evaluating.
You can also apply directly to the school you are interested in and ask if they can give you the PFS form.
You can check out a website called FinAid for more information on financial assistance, including loan programs and scholarships.
When should you apply?
Some schools have a set calendar for determining incoming financial awards. Others have a rolling cycle. You should apply for your child as soon as possible for the coming year.
Spring is often the time schools are evaluating student families for the following school year beginning in the fall. So you should have the PFS paperwork available for schools when they will be starting their analysis.
Be sure to have all the information needed for consideration including tax returns, W-2s, and records for other income.
The application deadlines are important, too, because many awards are given, not only on need and merit, but often on a first-come, first-served basis.
The information on submitted forms should be easy-to-read and complete to avoid being returned with resulting delays and possibly missed opportunities.
You have to make the decision on whether private school is worth the sacrifice for your gifted student. The true value won’t be known until your child has grown to adulthood and can look back at what you did for him or her with a sense of pride and gratitude – something that just might be priceless.
