You’ve been saving for your child’s education from the time they were very young. Your goal is to give them the best start in life–including tuition money so that they can attend college without having to sweat about student loans or other ongoing expenses. Unfortunately, prior to 2018, there was little you could do about their pre-college education, financially speaking. You might have had a solid financial base in a 529 plan for your child, but it could only be used for their college educations.
Not anymore! As of 2018, your child’s 529 plan isn’t just for college. It can also be used to pay for private school tuition from kindergarten through twelfth grade, allowing you to more easily cover the expenses associated with a private school. If you’ve been stumped for how you were going to be able to afford the cost of private school tuition, using your child’s 529 plan savings can help give you the extra financial boost to help provide your child with an increased level of success.
Why Use Your 529 Plan for Private School?
If you’ve been considering private school for your child, your 529 plan savings are an excellent way to improve your ability to pay for private school. You’ve always assumed that those funds were set aside for your child’s college, but that’s not the only thing they can be used for. There are several reasons you might choose to use your child’s 529 plan funds for their pre-college education.
Your child isn’t learning well in their current school environment. In many cases, public schools simply don’t have the necessary programs and means to give your child the adaptations they need. You want your child to succeed at the college level, but college success starts with the foundations that your child will build in elementary, middle, and high school. Opting for a private school education in a school where your child will be able to excel will help build those important skills that will ultimately make them more successful in college.
Your child prefers a self-paced educational method. As your child gets older, they may learn at a pace vastly different than their peers. Many children struggle with the traditional classroom setting–a setting that is very different in college anyway. To allow your child the self-paced learning they crave now, rather than only when they reach the college level, you can send them to a private school that will offer the adaptations they need.
Your child is being bullied in public school. If your child has been the victim of bullying, you can’t afford to worry about the what-ifs of a future college education. You need to remove them from their current school situation as soon as possible–and moving your child to a private school setting is one of the most effective ways to get them away from their bullies and ensure that they’ll be safer.
Your child has learning disabilities that aren’t being addressed well in private schools. Your child has some accommodations, but they simply aren’t meeting their full educational needs. It’s important that your child learns to succeed at the pre-secondary level before they move on to college–and a private school can help provide the important foundation that your child needs.
Private school is, for many parents, the ideal solution for a wide range of problems. Unfortunately, finding the necessary funds can be prohibitive–especially if you need to make a fast move for your child due to bullying or other problems in their current school setting. Thanks to the availability of 529 plan funds, you can place your child in a private school environment now, setting them up more effectively for future educational success. Ready to choose the best possible environment for your child? Contact us today to learn more about our school.