Friday, September 28, 2012

30 of the Best Blogs About Saving for Private School

Whether the appeal is based on smaller class sizes, higher educational standards, or spiritual instruction, some parents view a private education as a non-negotiable expense when it comes to the care of their children. Depending upon the area and the focus of the school, however, tuition can be quite pricey. Saving for private school isn’t always easy, but the global village created by the blogosphere allows other parents and financial experts to share their advice and opinions. If you’re looking for the best way to finance a private education for your child, these 30 blog entries are great places to start.

Coverdell Education Savings Accounts

Created as an incentive for parents to save money for contributions towards their children’s educational costs, Coverdell Education Savings Accounts are designed to allow parents to contribute up to $2,000 each year without being taxed for distribution. Any public, private, or religious school that provides either elementary or secondary education is considered an eligible expense, meaning that these accounts can be used for your child’s private elementary or high school education. These five blogs examine Coverdell Education Savings Accounts in greater depth.

Mutual Funds

Though returns on investments in a mutual fund may not be exempt from taxes like contributions to a Coverdell ESA are, they can still be great ways to generate money for use towards your child’s educational expenses. Fees and limited predictability have been known to scare parents away from using mutual fund investments as a means of saving for an education fund, but the government oversight and professional management of investments is appealing to others.

Financial Aid Programs

Many parents are surprised to learn that there are some financial aid programs in place for hopeful private school students, both through the school itself and private foundations. Finding these programs can be slightly tricky, but a visit to the financial aid officer at your chosen school can put you on the right track. These five blogs discuss various financial aid programs for private elementary and high schools, and can give you an idea of what’s available.

Savings Bonds

Those paper bonds that your grandmother bought for every gift-giving occasion might have gone the way of the dinosaur, but I Bonds are still a low-risk method of saving money to put towards kids’ educational expenses. Purchasing I Bonds during your child’s infancy and early years can help you save a considerable nest egg that can offset tuition costs for quite some time. While this money isn’t exempt from taxes like some other education savings plans, it can still be an effective way of saving for anticipated private school expenses.

Private Education Tuition Versus College Funds

While the idea of forgoing a college fund is downright repellent to some parents, there are those who feel that providing a strong, private elementary and high school education for twelve years of their child’s life is a more important and more worthwhile investment than four years of college. Belief that private school students are more likely to receive college scholarships and that university expenses should be the responsibility of a then-adult spur this movement on, as discussed in these five blog entries.

Scholarships

Just as exceptional athletes and gifted scholars can be eligible for scholarships to offset the expense of their college education, there are various programs around the United States dedicated to providing outstanding students with scholarships for private elementary and high school educations. These five blogs touch upon this subject in greater depth, offering information about such programs and helping to connect hopeful parents with them.

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