Insurance and Other Common Ways Parents Finance A Boarding School for Troubled Teens

As boarding schools for troubled teens offer many excellent services and experienced staff to parents who have troubled teens, it can be costly to have a struggling teenager attend. However, you don’t have to be absurdly well-off to afford the best care for your child. To help you determine how your family can wrangle your finances to send your struggling teen to a therapeutic boarding school for troubled teens, we have covered how others commonly pay for their teen’s attendance.

Health Insurance May Cover Boarding School For Troubled Teens

If you have health insurance that offers coverage for mental health, you may be able to pay for your teen’s therapeutic boarding school attendance with your insurance. You will need to contact your insurance provider to determine what requirements the boarding school must meet before coverage is given. A licensed therapeutic boarding school for troubled teens should have the right staff and provide the necessary care to qualify it for insurance coverage.

Loans Are Commonly Utilized By Concerned Parents

Many parents turn to loans to cover their struggling children’s treatment at a boarding school for troubled teens. The two most commonly utilized loans are:

• Educational loan - Banks and credit unions offer educational loans so that parents can pay for their K-12 children's education. These loans are often lower interest than other private loans.
• Home equity loan - Parents who are also homeowners can take out a home equity loan or a second mortgage to pay for treatment. While the home equity loan payments would not be tax-deductible if the loan is used to pay for the schooling, the second mortgage payments would be deductible.

Boarding Schools For Troubled Teens Offer Payment Options

Boarding schools for troubled teens understand that paying for your child’s care can be difficult. To help alleviate this problem, most schools offer a variety of payment options. Some of the most common options are:

• Financing - Most schools work with a third-party health care lender to help parents finance their teens’ treatment.
• Tuition discounts - If your teen’s stay at the therapeutic boarding school is paid for upfront, many schools offer discounts.
• Payment plans - Some schools will be able to offer payment plans to families who cannot afford the upfront cost of boarding school attendance.

Here at Liahona Treatment Center, we understand that sending your teen to us for treatment can be financially hard on a family. We offer financing help for parents. To learn more about our program, contact us.