Some families may need help handling the tuition cost, even though our tuition rate is much less than therapeutic boarding schools. Here are some other financing options you may wish to consider:
Consider Assets that Can Be Leveraged or Cashed In
First look at the assets you have right in front of you. If you have wealth and you can utilize that wealth to pay for a therapeutic program, begin the process of letting it go now so that it will be easier for you to do so when it comes time.
- Home Equity – You may be able to apply for a low-interest equity loan from your bank.
- Automobiles and Other Valuables? — You may be able to sell a car, and buy another with a low-interest loan.
- Bonds, stocks, an IRA, or a 401k? — Are you able to cash them in?
- Education Funding Plan or College 529 Plan? Some plans in some states allow for funding of a stay in a therapeutic boarding school, residential treatment center, or wilderness therapy program.
Ask for Help from Friends, Family, Colleagues
Some parents feel lost as to how to help their children. Many families harbor great shame about the fact that their teenager is struggling, and so they are not willing to ask for help from others. This is a humbling experience for many, so we encourage you to embrace this process. It will take much time, effort, and a change of mindset about the hopes and dreams you have for your teenager.
- Grandparents — Many families go to the child’s grandparents for help, and they are often willing to use some of their retirement or their available cash to help pay for a program.
- Family Members — Family members are often more than willing to at least chip in to help pay.
- Close Friends — If you have friends with teenagers, they are often aware of what you’re dealing with and are willing to chip in.
- Your Employer may also be able to help.
Ask for Help from Your Local Community
Write a letter of support and ask your friends if they know anyone who might be interested in helping. You will be surprised at the resources you may find in the process.
- First, Write a Support Letter Asking for Help — Detail who you are, and why you are asking for help, and make sure you write how much you are trying to raise.
- Ask Your Church Home — If you are a member of a church, go to your church body and ask for help. Send out letters, or ask your church pastors if they are willing to put you before the congregation to ask for help. Churches also often have support funds for active members. Talk to your lead pastor or family pastor, write a letter to the elder board, or if the church has a formal method for applying for funds, ask the church office how to apply.
- Start a GoFundMe (or similar) page — GoFundMe is a website (one of many) where you can ask people for money in support of a cause. Start a page and ask your friends for help.
- Ask Your Local Community Groups — If you are part of any type of community group, ask for help by giving letters to those you are acquainted with.
- Helping Hands Ministries (https://hhmin.org/) 706-754-6884 They will help you set up an account to which family, friends, churches, businesses, and organizations may donate. They will then send the funds to Pine Mountain.
Apply for a Behavioral Health Loan
Various services offer behavioral health loans:
- Prosper Lending Lends up to $50,000 for Health/Medical/Treatment at customized lending rates based on credit history, creditworthiness, and amount requested.
- M-Lend Financial Options include interest-free credit cards (at no additional costs) and low-interest installment loans for various credit ratings up to 84-month terms and $100,000. With no interest charges for an extended period, this can be a welcome bridge to financing.
- Prime Lending
- Lightstream Medical Loans Fixed rate, simple interest fully amortizing installment loans, no fees or prepayment penalties. We understand that sometimes quality care must be financed beyond what your current monthly budget can afford. Truist Bank (formally SunTrust Bank) is prepared to assist parents with financing options. They have a platform called LightStream. This portal can be used to secure financing options through Truist with unsecured personal loans of up to $100K. The link is HERE
- Cross Bank Medical Financing Loan amounts range from $1,000 to $35,000. No loans are offered in Connecticut, New York, West Virginia, and Vermont. An origination fee of 8% is included in the principal loan amount. The Annual Percentage Rate (APR) is the cost of credit at a yearly rate. The APR offered to you will depend on such factors as your credit score, application information, loan amount, loan term, and credit history.
Was Your Child Adopted?
- The Adoptive Families Coalition helps families with post-adoption challenges. They offer a unique plan to assist in meeting the high cost of therapeutic boarding schools, residential treatment centers, and wilderness therapy programs. You can find the sponsorship application page at http://adoptive.org/sponsorship/ or Call (602)-740-7149 or (602)-390-0220.
- Children Adopted in California State — California is required by law to assist families with struggling adoptees who were once a part of the California foster care system. Click here for more information
Was Your Child a Victim of a Crime?
If your child is struggling because they were a victim of a crime, there are funds available to help you pay for therapeutic boarding schools and residential treatment in every state. In some cases, the entire tuition or a majority of the cost can be covered. You must apply for assistance in the state in which the crime was committed. We should note that the crime must be merely reported and have a case number, it does not need to have gone to trial or resulted in a conviction to be eligible for funding. The National Association of Crime Victim Compensation Boards is one source. Also, see this list of all of the state crime victim compensation websites. You may be able to apply for funding for a therapeutic boarding school.
