Affording Your Child’s Education

from Camps & Schools 2/15/23 edition is published by Anton Media Group.

Meet th e Fut u re

Selecting the “best” school for your child is not easy. A school where she will be challenged academically, supported emotionally, develop socially, and solidify her foundation for a lifetime of success. That’s a tall order for any school and the pressure to make the right decision is no longer reserved for the college choice, it starts as early as whether to enroll your child in public or private school from the very start.

These are not simple questions to answer. It’s always going to be a personal decision for your family, shaped by your financial situation, your family’s values and the unique needs of your child. There are an overwhelming number of variables to take into consideration and with the stakes as high as they are, once you’ve settled in on the ‘best choice’ for your family, the last thing you want to struggle with is whether you can afford your child’s dream school. Affordability is a relative concept. Price and value are vastly different measurements.

“People say to me, well how can you afford to send your kids to (Sacred Heart Academy) and I say, how can you afford NOT to?,” said Umberto Mignardi, a Sacred Heart Academy parent (2018 and 2023).

Living on Long Island, many of us pay significant taxes to fund the public-school systems. Based on our geography, we do have the option of sending our child to the designated public school for “free.” Or with over 150 private schools to choose from, we might opt to identify a school outside of our immediate geography that is better aligned with our families’ priorities. Every decision we make, about schooling or otherwise, comes with a trade-off for a different option.

There is no doubt that our children are our greatest assets so it makes sense for us to prioritize our time, talent, and investment in their schooling. That is not to say that families should go into debt or risk the welfare of their finances at all costs. Instead, it means that saving and spending money for a private education means you can privode your child with an experience that is uniquely aligned with her strengths, goals, and your family’s beliefs.

Smaller class sizes, enhanced academic opportunities such as AP and Honors classes, college preparation, leadership development, religious foundation, athletic opportunities and respectful, safe and enhanced learning environments are just some of the factors to consider when comparing a public school with a private option.

After a careful review, if your family selects a path for your child that involves paying private tuition, the option is much more affordable than many realize. Yes, private schools are not subsidized by the Federal government in the same manner as public schools. They derive the majority of their funding through tuition, donations and development gifts. However, there are many financial options to explore that may ease the financial stress on your family.

In fact, the schools themselves often offer significant financial aid and scholarships to their students in an effort to keep themselves within financial reach of the majority of students. These scholarships may be based on academic talent, performance on standardized testing, religious affiliation or alumni/ae relationships.

At Sacred Heart Academy, an all-girls college-preparatory Catholic high school, students have access to not only academic awards, but also to full-tuition awards such as the “Dear Neighbor” scholarship, which recognizes financial need, as well as pays homage to the core mission of the school.

“We continue to prioritize our growing commitment to scholarship and financial aid...to be sure that the excellence of a SHA education is accessible to as many as desire it,” said Roger O’Donnell, a Sacred Heart parent (2015) and chair of the school’s finance committee.

There are also ways to defer billing through payment plans, work with your employer to match contributions, explore faith-based scholarships through your Church or religious institution and hundreds of outside scholarships and grants for your family to explore.

Individual families need to make the school choice that makes the most sense for them. Might sending your child to a private school mean you take fewer vacations, eat out less frequently, hold off on that new car or ask family members to contribute to school savings rather than buying gifts throughout the year? Without a doubt. Will it be worth it for your family? Undoubtedly.

—Sacred Heart Academy, Hempstead