Skip to comments.Student loan debt for kindergarten? Demand increasing for pre-college tuition assistance: report
Posted on 03/28/2012 5:31:09 PM PDT by SeekAndFind
When it comes to student loan debt, kindergarten might be the new college.
Parents are turning to lenders earlier than ever before, seeking help to pay for their children's elementary, middle and high school educations, according to a report from The Wall Street Journal's SmartMoney.
Lenders who specialize in pre-college loans are even available. One of them, Your Tuition Solution, says demand for the upcoming year is already up, according to the website. The requested amount of loans has increased 10% since last year, and its total funding is expected to rise to $20 million for 2012-13. Another company, First Marblehead, which pulled out of the pre-college loan market in 2008, jumped back in last year as demand began to rise.
That demand seems to be coming from families with an annual income of more than $150,000, according to SmartMoney. The same parents who take out loans before college are also likely to take out loans for college. The debt adds up. Already, about one in six parents of college graduates have loans and will owe, on average, $34,000 this year, according to FinAid.org.
The trend looks like it will stick.
According to SmartMoney:
"More loans before the kids even reach PSAT-taking age means, simply, more and more debt, something it appears Americans are becoming ever more comfortable with even as the rich complain about how poor they are. Loans are less taboo, and schools are more willing to present loan programs as an affordability option, which means these types of loans are likely just going to become more popular."
Last week, it was announced that student loan debt topped $1 trillion.
(Excerpt) Read more at nydailynews.com ...
Considering how badly publik skoolz embrace the fail...
If you cannot afford private school but don’t want public, there are several options:
* Move to a place with better public schools.
* Move the kid to a cheaper private school, Catholics being among the cheapest.
* Cut back on other luxuries like vacations and car “fleeces” to pay for private school.
* Review the private school bill and look for things to cut. Drop the lunch program and bring your own, saving a few things a day. Drop sports and activities with fees, saving a few hundred a month, making it easier to pay tuition that is at a similar level.
* Don’t use private school as a replacement for daycare. Switch to a cheaper pre-K and private kindergarten at a quality daycare, and save a lot compared to private school “tuition” for kids before first grade.
I sent mine to a two-hour two days per week program for a bit of socialization. That's enough.
The three year olds' need for PLAY far outweighs their need for structured learning. They're built to learn through the art of play at that age.