Is it common to get loans to pay for high scho?

[Anonymous]

The reason I am asking is that private schools have become so unaffordable that job incomes, financial aid, and family aid might not be enough. Just wondering if also bank loans are becoming a mainstream financing option.

[Anonymous]

No, no, no. College loans are crazy enough, at least for most kids who can’t pay them off.

[Anonymous]

It’s not common, but I won’t judge you. Every situation is unique.

[Anonymous]

Not common.

[Anonymous]

I thought it would be a possibility let’s say while unemployed.

[Anonymous]

Anonymous wrote:I thought it would be a possibility let’s say while unemployed.

Does the kid have a job?

[Anonymous]

Anonymous wrote:I thought it would be a possibility let’s say while unemployed.

No. Never.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought it would be a possibility let’s say while unemployed.

Does the kid have a job?

Parent becomes unemployed, I guess that would be the natural question.

[Anonymous]

Not an option.

[Anonymous]

Have you checked with your bank, OP?

[Anonymous]

Anonymous wrote:Have you checked with your bank, OP?

Prefer to check first in DCUM.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Have you checked with your bank, OP?

Prefer to check first in DCUM.

Unsound financial management, OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you checked with your bank, OP?

Prefer to check first in DCUM.

Unsound financial management, OP.

Maybe or maybe not.

[Anonymous]

Anonymous wrote:I thought it would be a possibility let’s say while unemployed.

Maybe if a parent lost their job during junior or senior year, as a stop gap measure to avoid taking the kid out of school those years. But as a financing plan? No, that would be a terrible idea.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought it would be a possibility let’s say while unemployed.

Maybe if a parent lost their job during junior or senior year, as a stop gap measure to avoid taking the kid out of school those years. But as a financing plan? No, that would be a terrible idea.

Thanks for the advices. Not sure why some posters become bananas when someone asks about the financial aspect of paying for private schools. It is very important to discuss it to avoid bad financial decisions.