From a young age I was enrolled in private schools, but it wasn’t until I got older and began to plan a future for myself that I began to wonder about the school systems. In northern Virginia there are mostly public and private schools. Closer to cities like DC and Chicago are hybrids (that’s how I understand them anyway) known as charter schools which are publicly funded but independently run so long as the criteria of its charter are met. Okay so what does that mean for you? Well, it’s likely you are already paying local taxes which go towards the state’s school system. For that reason, I suggest looking into the public schools in your vicinity and even scheduling visits. We like free, especially if it’s quality. Public school performance (academic, athletic, etc). varies drastically depending on where you are, but they accept everyone so long as no disciplinary actions take place (i.e. expulsion). Private schools, however, typically involve and application and entry exam. They don’t have to accept everyone and are privately funded and run so they can also vary based on religious orientation, tuition, curriculum. It’s not like public school where the curriculum is decided by a state education board and enforced by the school district. Each private school that I’ve come to contact with has it’s own board of directors in charge of making major decisions. Often these are people or (friends of those) who have helped found the school. I consider charter schools a hybrid because though they are free and generally don’t require entry exams there may still be an application process. Charter schools are funded per student so sometimes if it is insufficient, there may be aid by from private investors. Education is a major investment to consider especially in the changing job market. The type of school you choose to send your kids to will affect the peers they surround themselves with. Also, depending on what state you are in, you could receive tax deduction or refunds because your child is enrolled in a private school (helpful links for case-by-case below). As always best of luck from the team at Fast Cash, choose wisely!
- New tax law: https://www.cnbc.com/2018/01/22/private-schools-reap-benefits-of-new-tax-law.html
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