Affording Therapeutic Boarding Schools and Wilderness Camps

[riyasimla22]

Therapeutic boarding schools and wilderness camps can be expensive. With tuition ranging from $6,700 to $63,000, paying for these programs can require research and creative financing plans that combine payment plans, school loans, and private insurance. For most families, the decision to get help for their child is well worth the cost. The following are a few financing options to make these programs affordable.

Scholarships and Payment Plans

Some private schools offer scholarships for students with special qualifications or who demonstrate financial need. In addition, a number of schools offer payment plans to allow parents to spread out tuition payments over a 9-12 month period for a minimal cost, usually around $50. For more information about your particular school's payment options, contact the admissions director.

School Loans

Even though a number of schools offer tuition payment plans, many families email data additional assistance. School loans are an attractive financing option. An education loan allows parents to spread out payments over a longer period, making tuition much more affordable. Often, loan payments are about the same as a monthly car payment (as low as $100-$500 per month), and some loans allow payments to be deferred for up to 12 months. In addition, most loans allow you to spread the costs over 10, 15, or even 20 years with no prepayment penalty or cancellation fees.

For example, Clark Behavioral Health Financing, a subsidiary of Clark Custom Educational Loans Inc., is a popular lender that specializes in therapeutic and special needs financing. It offers flexible, customized financing for K-12 behavioral health treatments of all types, ranging from wilderness camps and drug rehab to a variety of treatment centers. Loans may cover all school fees, tuition, room and board, enrollment fees, transport/escort fees, past due balances, educational consultant fees, prescriptions, aftercare, and more. The company requires that the borrower (or co-signer) have satisfactory credit with an employment and residence history of at least two years, have proof of current income, be a U.S. citizen/permanent resident who has resided in the U.S. for two years, and have a student enrolled at an academically accredited school.

Most banks appoint a skilled loan broker to talk one-on-one with clients to discuss the types of loans available (such as interest-only loans, interest differed/principal only loans, or immediate interest and principal repayment loans), and choose one that best suits the family's needs. In addition, most lenders communicate directly with the school regarding loan pre-approval, disbursements, and other issues. In many cases, there are no upfront costs, such as application fees or out-of-pocket costs, but there may be origination fees and interest rates may vary.