Compare financing options for private special needs education

Money shouldn't get in the way of securing the best education for your child with special needs.

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A young smiling special needs child in a classroom

All public schools in Canada must have a special education program by law. However, if you’ve decided a private special education school would better suit your child’s needs, there are many options to consider but they can get expensive.

How much does private special education cost?

In general, tuition at a private education school can range anywhere from $10,000 to $35,000 annually, sometimes up to $70,000 or more. It varies widely depending on where you live, the type of program your child’s enrolled in, if it’s a day school or boarding school, among other factors.

How can I finance private special needs education for my child?

In the case that you need to fund your child’s private special education schooling yourself, there are quite a few options to look into.

Scholarships and grants

Many private schools offer scholarships to make tuition more affordable. But you’re not limited to just what your school offers. The majority of support and services available for children with special needs or a disability is managed by provincial or territorial governments. Here are some examples of provincial support programs:

You may also want to look into opportunities available through local nonprofits or religious institutions. Some offer scholarships and grants to parents in need.

Payment plans

If tuition is too much for your family to handle, you may be able to request a payment plan to help make the cost more manageable. Check with the school’s bursar office to learn more about your options.

Unfortunately, not every school offers a payment plan or tuition reimbursement. Be sure to explore the school’s financial aid page and contact a representative before committing to a school for your child.

K–12 education loans

Many providers have started offering K–12 education loans specifically designed to finance private education for your children. These tend to have similar rates and terms as personal loans, but are often available for higher amounts to help cover the full cost of tuition.

You can find more options and learn how to apply with our guide to financing private K–12 education.

Home equity loans

If you’d prefer a secured loan to get a lower interest rate, a home equity loan could help. You could get a percentage of your home’s equity value as loan funds, which can then be used for tuition, boarding, therapy treatments or other costs that may arise during the school year.

Both home equity loans and personal loans can also be used for other expenses that come with raising your child. Extra tutoring, visits to a neuropsychiatrist for diagnoses and various therapies all cost money and may not be covered by insurance or your school district.

Personal loans

A personal loan might be suitable if your child’s school doesn’t offer any scholarships or payment plans. Most lenders allow you to use personal loans to pay for K–12 schooling — just not postsecondary education expenses.

Many lenders offer competitive interest rates for borrowers with good to excellent credit. Plus, if you choose an unsecured option, you won’t risk losing your property or other asset should you default.

Compare personal loan options

Name Product Interest Rate Max. Loan Amount Loan Term Fees Min. Credit Score Link
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$20,000
6 months - 5 years
None
560
Go to site
More Info
Fairstone offers unsecured personal loans up to $20,000
Cash Money Installment Loan
46.93%
$10,000
6 months - 5 years
Vary across provinces/territories
560
Go to site
More Info
Cash Money offers installment loans up to $10,000 for AB, MB and NB residents.
LendDirect Personal Loan
19.99% - 46.93%
$15,000
No end dates
None
560
Go to site
More Info
Borrow up to $15,000, based on your income and credit history, with a personal line of credit from LendDirect.
LendingMate Personal Loan
43% (British Columbia and Ontario) and 34.90% (Quebec)
$10,000
1-5 years
None
700
Go to site
More Info
LendingMate offers loans to Canadians with poor credit with no credit checks. Guarantor required for application.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$35,000
3-10 years
Varies by province
560
Go to site
More Info
Fairstone offers secured personal loans up to $35,000.
Alpine Credits Home Equity Loan
10.00% - 22.99%
$500,000
Up to 60 months
Between 5% - 8% of your APR will cover closing and admin fees.
300
Check eligibility
More Info
Alpine Credits offer home equity loans in amounts from $10,000 to $500,000. Must be a homeowner to qualify. Check eligibility for this loan through LoanConnect.
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4 questions to ask before borrowing for private education

Decide to enroll your child in a private special education school? Here are a few questions to ask yourself before committing to a large loan.

  1. How long do I plan on having my child enrolled? Think about how many years of private school tuition you’ll need to finance. Are you planning on sending them for just the elementary school years? Or high school as well? This can give you an idea of how much you’ll need to borrow and help you create a budget to keep costs manageable.
  2. Will I be eligible for grants or scholarships in the future? Just because your family doesn’t qualify for aid this year doesn’t mean you won’t the next. If you anticipate your finances will change in the upcoming year, consider any future scholarships or financial aid you may qualify for when deciding how much to borrow.
  3. Am I going to send their siblings to the same school? If you plan on sending your child to a non-specialized private school, consider whether you want to send your other children as well. Some schools give discounts for multiple enrollments, though you’ll need to take these additional tuition costs into account as well.
  4. Is a summer program more affordable? You may want to consider a summer program at a private school. Many schools that serve students with disabilities have summer terms that may be more affordable than year-round tuition.

Bottom line

Depending on the level of provincial or territorial support your child is eligible for, you may have to pick up the majority of the bill for private special education. If scholarships and grants fall short, a variety of loans may be able to help.

Compare your options and learn more about how they work with our guide to personal loans.

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