PRIVATE SCHOOL LOAN

PRIVATE SCHOOL FINANCING FOR PARENTS OPTIONS AND SOLUTIONS

A private school loan is by definition consisting of a funding facility granted through banks, private lenders and loan brokers in favour of parents who want to finance their children’s private school fee.

A private school loan is aiming to assist all parents who are looking to provide to their kids with best possible school education knowing that children’s education is one of the major expenses parents face in life.

Financing private school fees is for many parents always a challenge given the other financial obligations they are facing such as mortgage, car financing and credit cards utilisation, leaving sometimes very limited credit line room form the banks.

Funding private school needs to be planned in advance given that private school fees are important and need to be paid upfront on a yearly basis thus disrupting heavily many families budget.

PRIVATE SCHOOL FUNDING OPTIONS

In the absence of any savings to face private school invoices, and in order to permit children to be part of the elite schools enhancing their educational future, several options are existing for parents to finance these costly years:

Parents without savings but acceptable income and good credit score:

  • Personal loans through the house bank.
  • Apply for a specific private school loan with the same house bank.

Parents with acceptable income and bad credit score:

  • Use the house equity to remortgage a real estate and obtain easily a loan.
  • Monetise any tangible asset (car title loan or logbook loan) or intangible asset (life insurance, pension funds) as security to obtain a loan.

Parents with low income and bad credit score:

  • Use crowdfunding platforms to collect cash to pay tuition having two options: donation based crowdfunding with no need to repay and debt based crowdfunding with repayment plan.
  • Address a credit application to private lenders including close relatives and friends.
  • In extreme cases use pawnbrokers loan in exchange of deposing valuable goods such as gold and jewelry.

Parents with no income and living from social welfare :

  • Microfinance is an option for parents in precarity as microcredits contribute to the social inclusion of families including promoting qualitative education.

PRIVATE BORROWING

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Contact: info@privateborrowing.com

PRIVATE BORROWING