One of the questions that I get asked most often is how much does it cost and how do I pay for it?

The average cost of private therapeutic boarding schools and programs is about $4000 to $9000 per month depending on the program and what they have to offer. There is usually a processing fee that is separate from the tuition that can range from $1500 to $2500 (this is a one time fee) it usually covers such things as insurance administrative costs, academic testing, psychological testing, and in some cases uniforms. When choosing a program, be sure to ask specifically what is included and if there are any extra fees that can be expected.

If a program is under $3000 per month you need to do your research VERY carefully. And make sure you know what you are paying for. Make sure it's more than glorified babysitting!

There are several different ways to finance these types of programs:

Educational loan is one that is typically used by many families. It is similar to a college loan, they are easy to get and can be repaid over a period of time at about $300-$400 per month. click here to see our list of educational lending instutions

College fund: If you have a college fund set up for your teen, now might be the time to use it, otherwise they may never make it to college. Getting them through this crisis just might get them to the point of being able to go to college, and at that time there may be scholarships or grants available for them to take advantage of.

Individual Educational Plan (IEP) Does your child have an IEP an Individual Educational Plan, through your local school district? In some cases this may defer a portion of the academic costs of the school or program.

Medical Insurance: contact your insurance provider to see if they cover residential placement. Therapy typically is about a third of the cost associated with the costs, a PPO is more likely to cover some of the costs, however; it never hurts to check with your insurance company no matter what kind of coverage you have.

Credit cards: although they usually have a high interest rate, they may be able to provide you with the initial monies to enroll you child until you are able to secure a loan, line of credit or other means of payment.

Home equity credit line. This can be a benefit to you in a few ways. Not only is it a convenient way to access money that is needed, it can also be a tax deduction in regards to interest payments. Usually the therapeutic and medical portion of the tuition can be deducted. Check with your tax account for more information.