Do High Costs of International Boarding Schools Reap Benefits?
Investing in your children’s future is critical, and choosing the optimal secondary education is one of the best ways to make a sound investment. Many consider an international boarding school to be out of their financial reach, but financial reasons alone should never prohibit anyone from applying for a school should they really believe it is the best option for their child or their family.
Generally speaking, the costs per annum of an international boarding school is anywhere from $15,000 US dollars to over $50,000 dollars per year with the average cost being $38,50. The cost of the school will depend on several variables including the type of school, location, services offered, cost of travel, size of the school and extra curricular activities that the student elects to participate in.
Several additional factors may be involved in determining the final costs of school overseas. Books, school uniforms, including for athletics, and a personal computer may not be included in the student fees, and may be determined necessary for attending school. Asking about these as well as student fees, deposits and the preferred payment method will determine the final cost of attending an international school.
There are some potential tax advantages for families of students attending an accredited international school that is for overcoming a learning disability or who needs therapy. Additionally, there are educational savings programs with tax advantages that may be used to save for the cost of tuition. However, most boarding school costs cannot be claimed in the US under the “tuition and fees” portion of Form 1040 or 1040A because these fees are reserved for post-secondary education costs.
Most schools have an in-house scholarship program, based on merit and need. Many students who meet the requirements for entrance may receive some kind of financial assistance. These options may not be enough to make attendance possible, but there are other ways to make up the difference. The most common ways to lower the costs of attending school internationally is by lowering the lifestyle costs. A partial meal plan combined with a dormitory sleep setting is significantly less expensive than a full meal plan option and a single room. Many schools also offer a monthly or quarterly payment plan, and some schools offer low-interest loans through well-known, in country lenders.
Attending a school internationally is not for everyone, but many families find that it is well worth the financial investment. Class size is typically smaller in boarding schools, allowing for more teacher interaction as well as individual instruction. Generally speaking, students from international boarding schools attend prestigious universities typically do very well due to already having learned how to live away from home and manage their time on their own. Students who graduated from international boarding schools develop a healthy understanding of other cultures and people from other cultures that enables them to advance quickly in the international workplace. The initial cost of international boarding schools may be high, but it’s worth the investment.