Private schools typically offer payment plans to help families budget the cost of tuition with their finances. Common payment options include:
- A single payment
- Two payments
- Monthly payments*
Monthly payment plans are often scheduled when school is in session, dividing payments into eight or ten installments, and sometimes five or six months is an option. An administrative fee may apply with monthly payment plans, and most schools also charge late payment fees. Schools may also require families on a monthly payment plan to purchase tuition insurance.
Alongside tuition assistance and educational loans, payment plans are one of several ways to help families afford private school tuition.