Good education is hard to come by these days. The quality of public schools are dropping day by day, and getting into top colleges is becoming increasingly difficult. This is a reality of life that all parents have to face these days. If you want your teen to get into a top school, the best choice is boarding schools and private high schools. However, they can be exorbitantly expensive. There are financing alternatives though, to support your teen’s education.
Using 0% Interest Credit Cards
Most student loans have moderately high rates of interest, which makes them poor alternatives when compared to zero interest credit cards. Many banks offer these cards with 12 month introductory offers that make them excellent choices to pay for your teen’s education. They come, however, with some catches.
The first thing you have to keep in mind is that the offer is for a limited period only. After that period of time, you will have to pay back the loan with interest, making it no better a choice than high interest student loans. Make sure you know what the card entails these cards offer anywhere from 6 -14 months interest free. You should pick the right card with 0% interest on balance transfers and purchases, as well as the length of the introductory period.
Keeping that in mind, you can calculate your payments to ensure that you will pay off the debt in the allotted time. You should definitely figure out the amount and ensure that it is within your budget. Finally, you should pay your balances on time not to have to pay finance charges. Also, some banks and financial institutions may void the 0% offer if you are late with or miss a payment.
Student Loan Products
There are also banks, credit unions, and loan providers that offer high school tuition student loans that you can apply for. Many of them offer affordable repayment schemes and extended terms that are excellent for parents who want the best level of education for their teens.
A great loan is the Sallie Mae K-12 Family Education plan that is available to those who have good credit. It covers up to the whole cost of annual tuition and expenses. It also covers books, computers, theatre gear, musical instruments, sports equipment, and other miscellaneous items and gear your teen may need in school. The terms are quite clearly explained and structured for one to three year repayment terms, which makes it a good choice for concerned parents.
See Also:
- Low and No Interest Credit Cards
- Entrepreneurship Helps Kids Prepare for the Best MBA Programs
- Five Unusual College Scholarships
- Study Tips for Serious Students
- College Funding Options
- Saving for College with a 529 College Education Plan
- Teaching Kids Money Management Skills and Entrepreneurship
- Majors for Fiscally Minded Students
- Saving For Your Childs College Education without Breaking Your Budget
Boarding School Resources From Amazon
- Private Secondary Schools 2012-13
- American Boarding Schools
- American Boarding Schools: The American Boarding School Experience
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