Do you want to place your child in a military school but are afraid it is out of your price range? Tuition, books, uniforms, travel, and fees can get costly. Here are some options available to you for how to pay for military school that might be worth checking out.
How Much Does Military School Cost?
Tuition for army schools can run from $25,000 to $50,000 a year. I know it can be discouraging, but there is some help out there. Click here to find a military school near you, then read on for more information about how to pay for a military academy.
Ways Parents Pay for Military School
Scholarships, grants, loans, and school financing are the most common ways that parents pay for military school for their child. It’s reassuring to know that there are several options, but in some instances parents need to get creative. We have listed some creative ideas toward the end of this article.
Whatever options you chose, start applying early and be persistent. Stay in contact with the key people in charge of financial aid or administrators of scholarships and grants.
1. Apply for Scholarships
Most military schools have benefactors and scholarships available to help pay for tuition, books, uniforms, and fees. Some schools offer need-based scholarships, some offer merit-based scholarships, and some schools offer both. Some schools also offer scholarships to kids who have parents that are members of the military.
Merit-based scholarships may be offered to individuals who are academically proficient and show intellectual growth, or who show great character and leadership. They also may be offered to kids who excel in sports or the arts.
Needs-based scholarships are based on the financial statements of the primary caretaker. Churches and employers also sometimes offer scholarships so remember to check with them.
Apply early and keep in touch regularly by email. Persistence can make a difference.
2. Request Grants
Since military schools are private, they do not receive money from state tax dollars and instead fall under The National Association of Independent Schools, or NAIS. The NAIS is a non-profit membership association that provides grants to students who are in good academic standing or demonstrate a financial need. Contact the school you’re interested in for more information about how to apply.
3. Apply for Bank & Financial Institution (FI) Loans
Loans to help pay for military school can come from a private bank or a financial institution. Check with your bank to see if they offer private loans for military school. Be sure to check around for the best interest rates. Variable rates are usually lower, but if interest rates rise you could be in for a couple hundred dollar increase in your payment. You’ll have to do your research to see if a fixed or variable rate is best for you.
Financial institutions such as Sallie Mae also offer private student loans. You will need to have a good credit score to qualify for a private student loan. Unfortunately federal student loans, which usually have lower interest rates, are not offered for military school.
Can I apply for a loan under my student? The answer is no, you as a parent cannot apply for a loan under your student’s name. Parents will have to apply for an educational loan under their own name.
Can I apply for a personal loan as a parent? Yes, you can apply for a personal loan to pay for military school for your child.
4. Schools May Offer Financing
Some military schools offer financing if you are running out of options. Check with the school you are interested in. Instead of paying it all up front at the beginning of the year, they may work with you on making monthly payments throughout the school year.
The school’s finance office will set up a written agreement which shows the amount the payments will be each month. A down payment will most likely be needed to ensure your child’s admission into the school. The nice thing about financing with the military schools is that interest is not charged.
5. Research Insurance Coverage
Is Military school covered by insurance? No, unfortunately military school is not covered by any insurance; however, certain expenses such as medical care and mental health treatment may be covered.
The general rule is that in order for insurance to cover all or part of the costs, the facility must be medical in nature and offer some level of health services. Military schools do not meet these criteria, but residential treatment centers usually do.
6. Creative Funding Solutions
For parents who are determined, here are some alternative options to pay for this important structured situation your child needs.
- Ask friends and family. Perhaps there are grandparents, aunts, uncles, or family members who would be willing to offer assistance, especially if they have seen the struggles your family is experiencing.
- Start a GoFundMe. Many times friends and family are willing to contribute.
- Request funds from your church or place of worship. Some churches or religious institutions offer small grants, scholarships, and financial help to members or members of the community.
- Teens who are adopted may use their adoption subsidy. If your child is adopted from the foster care system, the subsidy can be used to pay for military school. You may need to put in a request for the subsidy to be increased to cover part of the cost.
- Refinance your house. It’s extreme, but some parents choose to take out a loan from the equity in their house to cover this additional education expense for their son or daughter.
Are you at your ends rope trying to get the proper care and schooling for your child? If so, we can relate. Just know that there are options, and persistence is key.
Have you already been trying to get your child into a military school? Have you been able to get financial help for military school? Please comment below. We would love to hear your experience.
If you have exhausted all options and realize that military school is not feasible for your child, read about other residential treatment options. Read about how to fund these other residential treatment options here.
Click here for a free PDF printable checklist of the 7 steps to take when your child needs residential treatment.
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