This week has provided us with even further reminders about the troubled state of the economy. Reports of GDP and stocks dropping are newsworthy headlines; parents struggling to provide for their children is a hard reality. When it comes to education, parents and society are investing in long-term prosperity but the financial difficulties of today are making it hard for many to fulfill this long-range objective.
A recent article in the New York Times demonstrates the difficult choices being made—whether to send their child to a private or public school—by parents in the United States. This article mentions that many parents are uncomfortable and embarrassed about asking for financial assistance, something they have not had to do before. Although this reaction seems natural (initially), many private schools in Canada have been offering financial assistance, bursaries and scholarships long before this downturn in the economy.
These aid programs exist because people are in need and use it. Any parent requesting help from their private school is in good company and has nothing to be embarrassed about. Private school’s endowment funds often come from alumni gifts and donations or from fundraising initiatives. At some schools, like the University of Toronto Schools, the average assistance can be over 50 per cent of yearly tuition. Information on financial assistance is available on most school’s websites or by contacting your current or prospective private school.
For parents in Ontario and Alberta who have been hit extremely hard with financial woes, Children First: School Choice Trust may be able to provide enough financial help so that the experience of private school remains an option for your child. There is also a lot of helpful advice on Our Kids Go To School, especially the 10 ways to boost your financial options to help you better afford a private school education.
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