Affording a good private school for under $5,000 a year is possible! The following are just a few ways your family can choose a private school that fits your budget.
Private schools are more accessible today than they have ever been. Indeed, while many schools offer tuition for $5,000 or lower, there are also a plethora of means through which to pay less than $5,000 per year for your child’s private school.
In Canada, approximately half of private and independent school students are from middle-class families that have identified ways to make their children’s education fit their financial situation.
Tuition of $5,000 or Less
Many of the schools that are listed on this site charge under $5,000 yearly. A quick search on our database yielded the following results:
- 1 school in Alberta
- 10 schools in British Columbia
- 1 school in Manitoba
- 1 school in New Brunswick
- 1 school in Nova Scotia
- 34 schools in Ontario
- 8 schools in Quebec
- 1 school in Saskatchewan
However, our resources are certainly not an exhaustive list, so it’s recommended that you look beyond our website. Affordable options are out there!
Both the federal and provincial governments may help you pay for your child’s private school. Here are a few examples of extant government support programs:
- Newcomer Settlement Program
- Ontario Child Benefit
- Canada Child Tax Benefit
- Child Care Expenses Deduction
Furthermore, in many provinces, the government offers grants on medical grounds for students with special needs. In addition, paying tuition at some schools, usually faith-based institutions, may qualify as a charitable donation through which you would receive a tax credit.
Scholarships and Bursaries
Many private schools provide scholarships and bursaries. The former refers to need-based grants whereby the admissions team (often through a third party financial company) evaluates your finances. If you qualify for financial aid, then the school will fund your child’s tuition accordingly.
On the other hand, scholarships connote merit-based grants. Private schools usually present scholarships to students who either score exceptionally well on an entrance exam or have extremely impressive transcripts. But, some scholarships are based on other considerations, such as remarkable community involvement or artistic achievements.
Not all private schools pay the same percentage of your child’s tuition. Some schools, like Strathcona-Tweedsmuir School in Okotoks, Alta., offer 100 per cent assistance, whereas most private schools will only pay for part of the tuition. Nonetheless, scholarships and bursaries can make private school affordable.
If you are planning to apply for scholarships or financial aid, be sure to do so early, as many schools have strict deadlines.
Note: About one-third of boarding school students receive financial aid.
According to Michael Thomas, director of Fraser’s Institute’s Children First financial assistance program, “Many schools do have a family rate, and that can shave off hundreds of dollars a year.” These discounts are most common at faith-based schools, where savings often start at 10 per cent for each sibling.
Learn more about schools that fit your budget by attending one of the Private School Expos! Attend information seminars and meet with school officials and current students face-to-face. Register now to get 50% off your admission!
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Do you have experience with any of these affordable options? If so, tell us about them and share your thoughts in the comments section below.