How can I pay for private

[Anonymous]

Maddux parent here. As great as Maddux is, they don't offer any financial aid. In my opinion, if your child gets in, you should send him, if possible. It does cost a lot, but for the right child, I believe it can be life changing.

[Anonymous]

Anonymous wrote:You can't afford it. It's a bad idea. Find another option.

Anonymous wrote:Don't go broke paying for private school!

I"m not sure that this is solely about the money. I truly believe that in this school he will learn the right techniques to manage his emotional issues. At most, he would be there for 2 years. The school, plus daycare and summer camp is about $13K a year more than I pay now. I can take this years 529 contribution and put it towards tuition. That leaves me a gap of about $8k. Taking out a loan for $16K at most so that my son can mainstream into public K and have a good foundation doesn't seem irresponsible to me. Does it to you? How did you pay for your SN child to attend the school they needed?

What are my other options? I know in K I would have public options, but what about for preschool. His cognitive skills are fine. He is being evaluated by child find but I was already told that I should be looking at the current evaluation as the start of his file for an IEP if he needs it later and that he would probably not qualify for PEP.

[Anonymous]

Anonymous wrote:Maddux parent here. As great as Maddux is, they don't offer any financial aid. In my opinion, if your child gets in, you should send him, if possible. It does cost a lot, but for the right child, I believe it can be life changing.

Thank you. Your comment aligns with what I've heard from others. Somehow, you just have to make it work. It's the "somehow" part I'm struggling with

[Anonymous]

Anonymous wrote:

Anonymous wrote:Have you thought about taking a loan against your 401k?

I'd have to look into that. I don't know if this constitutes a hardship or not.

If your program allows loans, it doesn't have to be a hardship. You can use the money for anything, and pay yourself back over a set period of time. Even one year of the Maddux program could lead to great benefits.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you thought about taking a loan against your 401k?

I'd have to look into that. I don't know if this constitutes a hardship or not.

If your program allows loans, it doesn't have to be a hardship. You can use the money for anything, and pay yourself back over a set period of time. Even one year of the Maddux program could lead to great benefits.

Can't hurt to make a call tomorrow. Thanks for the suggestion.

[Anonymous]

If you have life insurance, check and see if your policy allows you to take a loan from it. Good luck.

[Anonymous]

Anonymous wrote:If you have life insurance, check and see if your policy allows you to take a loan from it. Good luck.

Thanks for the idea. I have life insurance but again no idea if I can take a loan against it. I'll make that call tomorrow as well.

[Anonymous]

We attend Maddux and do not have parents or anyone else helping us. We are not wealthy. No financial aid that I am aware of. Find a good financial advisor and see what you can write off.

[Anonymous]

Anonymous wrote:We attend Maddux and do not have parents or anyone else helping us. We are not wealthy. No financial aid that I am aware of. Find a good financial advisor and see what you can write off.

Ability to "write off" will depend on whether OP's child has a medical diagnosis. If her child does not qualify for PEP, then it is unlikely tuition for Maddux can be written off.

[Anonymous]

Our advisor told us that, under the new healthcare law, we might be out of pocket for more medical costs. Please don't overlook that when "budgeting" for school. Ultimately, health care costs, treatments, etc. must come first. Yes, the law of unintended consequences is upon us.

[Anonymous]

20:27's point is a good one. Our healthcare has been cancelled and the broker told us to expect a huge uptick in pharmaceutical costs no matter what policy we are on. And due to SN, we have lots of drug-related expenses. He said the days of the $20 copay will be long gone next year.

[Anonymous]

OP - unfortunately this may not work for you. We had to leave a SN school (much more expensive than what you are describing) because of the great recession. We mainstreamed DC and it worked out very well because DC was exposed to a very large high school (with an IEP) so was able to function well at a large university. Some of these schools are just not viable choices for some of us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Maddux parent here. As great as Maddux is, they don't offer any financial aid. In my opinion, if your child gets in, you should send him, if possible. It does cost a lot, but for the right child, I believe it can be life changing.

Thank you. Your comment aligns with what I've heard from others. Somehow, you just have to make it work. It's the "somehow" part I'm struggling with

PP again. We are focused on building a strong foundation now. So that college is more likely later.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We attend Maddux and do not have parents or anyone else helping us. We are not wealthy. No financial aid that I am aware of. Find a good financial advisor and see what you can write off.

Ability to "write off" will depend on whether OP's child has a medical diagnosis. If her child does not qualify for PEP, then it is unlikely tuition for Maddux can be written off.

Never heard of PEP. We are able to write off part.

[Anonymous]

I've never heard of Pep and don't know about write-off but would like to know more. I have a SN child in an SN school and an autistic young adult in college. Please educate me about whatever write off allowances there may be. DH has spoken to our accountant in the past and he said nothing was deductible or could be written off. Thank you.