Affording Center School

Investing in your child’s education can be a difficult decision.

Choosing and paying for a private independent school is more achievable

than many families may think.

Funding a private school education

529 Savings Plan - a tax-advantaged savings plan designed to encourage saving for future education costs.

Education IRA/Coverdell Education Savings Accounts - a trust or custodial account set up solely to pay educational expenses.

Tuition Payment Plans - many flexible payment plans.

We offer tuition payment plans to help you budget over a period of time for your Center School tuition. Tuition can be paid in full at once, or in two or 10 installments. Families who chose the pay in 10 installments begin payment in June of the previous school year through March of the current school year. For families who choose to enroll mid-year, these plans may look slightly different as tuition is prorated.

An extended payment plan may be offered to qualified families who commit and enroll early for the following school year.

Support from grandparents and other family members - tax gifts or personal contributions.

One in six families with children at independent schools relies on grandparents to help with the school fees, according to Independent School Parent. There are several ways family members can elect to support your child, such as adding additional contributions to a 529 plan or gifting a sum of money (up to $15,000 per year) to use for tuition from their personal finances. Additional information on gifts can be found on the IRS website.

K- 12 Education Loans - specialized education loans to cover school tuition costs.

Private Personal Loans - a popular way to pay for a private school education.

Health Coverage Tax Credit - Medical Benefit IRS Publication 502.

As of 2011, the IRS ruled that tuition for a special school that is designed to support and help students manage or overcome disabilities can be counted as a deductible medical expense if the primary reason for attending the private school is a medical benefit and the teacher is specially trained and qualified to work with children who have learning disabilities. This information is on page 13, in the IRS publication 502, “Medical and Dental Expenses”

For any additional information please contact:

Tiffany Getz Director of Admissions

Email Tiffany Getz