Below is an excerpt from the book "1,001 Things They Won't Tell You," which was published in May 2009 and highlights popular columns from SmartMoney's long-running "10 Things" feature.
As the college admissions game gets more competitive every year, what’s a parent to do to help their child get into the school of his choice? You could try cutting back on your kid’s TV time or trips to the mall—or you could make a more drastic move, like transferring him from a public school to a private school. If you opt for the latter, you’ll be a part of an increasing trend—over 561,000 students were enrolled in K–12 schools affiliated with the National Association of Independent Schools in 2006, up from about 485,000 in 2001.
But just because private schools are becoming more popular, it doesn’t mean they’ve become more selective. While most screen out applicants who can’t hack the work, for example, the current economy has led a handful of the more desperate institutions to accept just about any student who can fork over the tuition. The result: Your fast-track child may get slowed down by a bunch of academic laggards.
Or you may run into a situation like that of a Colorado couple who were thrilled when a boarding school for mainstream students in Pennsylvania accepted their daughter despite her history of emotional instability. Two weeks into the school year, the school had second thoughts. “She was asked to leave, and the school wouldn’t refund the $30,000 tuition,” says Diane Arnold, a Lafayette, Colo., education consultant who helped the parents place their daughter. “It was a very nasty situation.”
If you’re thinking of sending your child to a private school that’s been open only a couple of years, be careful. “They’re often fairly dicey,” says Gordon Bingham, former executive director of the North Carolina Association of Independent Schools. “Parents should check out the head of school and see if they have experience and standing in the community.”
Even the best new schools lack cushy endowments to help them survive the lean times. After being open just three years, Solon Academy in Houston enjoyed a loyal base of parents and a growing enrollment, but was forced to close for financial reasons. The surprised parents managed to save the school in 2003 by forming their own board and raising money to keep the institution from going under until the next round of tuition checks came in. Even still, the school has since shut its doors for good.
Before enrolling your child in a new school, do your homework: Check to see how its expenses compare with its revenue; see if the board is composed of competent business leaders; and find out if it’s supported by donations, since few schools can survive on tuition alone.