Tuition and Financial Aid
Tuition for The Liberty School's 2020-2021 school year has been frozen at $15,950 to ease some of the financial burden caused by the COVID-19 outbreak. Families will be billed monthly on a 10-month, pro-rated basis. We understand that an independent school choice can present a financial hardship and sacrifices to families and extended families. However, we are committed to helping families afford a Liberty School education. Options to help soften the cost of tuition are featured below.
The Liberty School Scholarship Fund
The Liberty School does offer a limited amount of scholarships based off financial need. Scholarships are evaluated by a committee and are awarded based upon need with many factors taken into consideration other than straight income. It is strongly suggested using the section to write your reasoning for requesting scholarship funding, and explain your situation regarding your ability to pay tuition. The deadline for the 2019/2020 Liberty School Scholarship Fund is May 15th, 2020. Click here to fill out the online scholarship application.
The education loans for private elementary and secondary schools (K-12) include:
Sallie Mae offers the K-12 Family Education Loan to help parents pay for all or part of the cost of sending their children to private primary, middle and secondary schools, including prep schools, parochial schools, Montessori schools and boarding schools. Families can borrow from $1,000 up to the total cost of education. The loan is available to parents or other credit-worthy family members. Borrowers can choose to repay the loan over 1 to 3 years and there are no prepayment penalties. There is no application fee. Interest rates range from 1-Month LIBOR + 7.00% to 1-Month LIBOR + 11.50%. Disbursement fees range from 0% to 3%. The online application can be completed in about 20 minutes, with quick credit decisions. Sallie Mae also offers the Tutorial Financing Loan to help pay for the cost of tutoring to improve grades and performance on standardized tests. You can contact them by visiting their Website at www.salliemae.com/student-loans/private-school-loan.
The Student Loan Network offers the Act Education Loan for K-12 Students for private K-12 education. The loan limits are $30,000 per year with a $130,000 aggregate loan limit. The interest rate is LIBOR + 4.95% with 6.0% fees. There is a 0.25% interest rate reduction for auto-debit and a 0.25% interest rate reduction for making the first 36 consecutive payments on-time. The repayment term is up to 20 years. For more information go to visit them at www.yourtuitionsolution.com/family.
prepGATE Tuition Management Systems (TMS)
This is a subsidiary of the First Marblehead Corporation, offers the prepGATE Loan Program for financing private K-12 education. Loan amounts range from a minimum of $2,000 to a maximum of $30,000 per year (capped at the total cost of attendance minus other aid) with a $150,000 aggregate limit. The interest rates are variable, ranging from LIBOR + 5.99% to LIBOR + 10.4%. Origination fees range from 0.0% to 2.5%, depending on the repayment term. 5-year and 10-year repayment terms are available. There is a $50 minimum monthly payment. There is a 0.25% interest rate reduction for borrowers who repay their loans through auto-debit. For more information, call 1-866-362-4283.
Your Tuition Solution offers fixed-rate tuition financing plans to cover the cost of tuition and related expenses at more than 2,400 private K-12 schools in the United States. The loan amounts are $2,000 to $40,000. The interest rates are fixed, ranging from 3.99% to 17.99% APR, and depend on the loan term, tuition amount and the borrower's credit score. There are no origination or application fees and there is no prepayment penalty. Payments can be spread over 12 to 84 months. Your Tuition Solution is a program of Springstone Financial LLC. For more information, contact Your Tuition Solution via the following methods: Phone: 1-800-920-9777. Email: email@example.com. Website: www.yourtuitionsolution.com.
Student loans are a possibility at some banks and credit unions, so check with your bank or credit union to determine if they offer student loans.