In Any Market, the Down Portion of the Cycle Offers Buying Opportunities: Private Schools Are No Different- Carpe Diem
In a piece for SmartMoney (The Private School Pinch), Neil Parmer makes the case for the current private school admission cycle as a buyers opportunity. He doesn’t sugar coat the costs but he makes the case for- and provides ideas and examples- of the negotiating and buying opportunities available to parents.
Boarding and private schools need to fill their seats and beds and are open to all sorts of considerations, strategies and questions from parents regarding tuition- ideas and discussions that schools wouldn’t have entertained just a year ago.
Schools are doing their parts trimming and containing costs and tuition and they are willing to work with parents under the same pressures.
“…But look around the country these days and you’ll see that admissions math is in flux…
Recession specials have also been cropping up at schools around the country, with tuition discounts reported as high as 20 percent…
And while you won’t see “bartering” listed in any of its official financial-aid literature, the Westover School in Middlebury, Conn., has allowed a couple of folks to do just that. According to the school’s head, Ann Pollina, several parents at the all-girls college prep have traded their professional services — as technology and business-efficiency consultants — for a little tuition relief…
In the past, of course, it’s been the parents who have had to go to great lengths to get their children into the more elite schools. But since the economy went south, the game has changed; now it’s the schools that are having to hustle — and maybe even lower their standards. Instead of waiting for the applications to roll in, more are forced to actively beat the bushes, consultants say, to fill spots that have opened midyear. Even in the most competitive markets, there’s talk of more “brokering” going on…” (SmartMoney)
If you’re considering boarding or private school for student, an opportunity may be at hand.
Photo credit: Randy OHC