Private School Education: Worth the Cost?
by Emily Driscoll, Fox Business, 4/27/12
Posted April 30, 2012
Everyone knows about the mounting college student loan crisis, but some parents are racking up debt to pay for their kids’ education before their children can drive--or see a PG-13 movie.
The cost of one year at a K-12 private school can cost as much if not more than a year of college tuition, and to cope with the rising costs, some parents are racking up massive debt years before college applications start to arrive.
According to Your Tuition Solution, one of the largest lenders for private K-12 education, demand for the upcoming school year is already on the rise. In March, the total dollar amount of loans families requested rose 10% compared to a year ago and at that pace, the company expects its total funding to rise to $20 million for 2012-13.
Parents opt to send their children to private school for a variety of reasons: some feel that the public school options in their area are not a good fit for their child, or they want may their child to have more individualized attention, says Richard Marotta, headmaster at Garden School, a private institution in Jackson Heights, N.Y.