High School Loans: Financing Your Teen's Private Education

If you have a high school age child you may be considering private school as an alternative to public school. Naturally, you want your child to receive the best possible college preparatory curriculum, one that will give them an edge on the scholastic tests and also mentally prepare them to excel in college. Your only concern is that since these private high schools tend to charge an exuberant tuition if you do not have the available cash, how do you finance your high school aged child's private education? Are there loans set up for this purpose?

Yes, most major lending institutions do recognize funding private high school as a viable reason for a loan.

Financial Aid from Private High Schools

The majority of private high schools offer financial aid. In order to see if you can qualify for this assistance you should contact your private school's financial aid office.

College Loan Programs are now Available for Private High School use

It used to be your only option would be to take out a home equity loan. As of recent, this has changed; you can now apply for loans through traditional college loan programs including:

  • The Sallie Mae family education loan -borrow up to the cost of education and an additional $6,000 for extra expenses.
  • Citibank's Citiassist Loans - loans up to $15,000 per year. The repayment of this can be spread out as far as 10 years.
  • Your local major bank - Many major banks offer loans for private school education, with terms up to 72 months.
If you are considering placing your teen child into a private high school be comforted in the fact that you may be able to receive loans to help pay for it.

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