Selah Love and How to Pay for It?
My career for more than 19 years has been in office administration and bookkeeping, and I’ve enjoyed it. But my heart is in teaching young children. I homeschooled both my children before sending them to private school, and I enjoyed it immensely, especially those early years. It’s in those years that we shape our children’s whole view of learning. We’re not just teaching children to read and write–it’s much bigger than that. In those first years of elementary school, a child is internalizing experiences and adult-child interactions that will become part of who they are in adulthood. We have an opportunity to help them develop a lifelong enjoyment of the process of learning in these critical formative years.
I first learned of the Montessori method of teaching over ten years ago. I had been researching the different approaches to schooling available to me as a homeschool mom, and to be honest, I was not impressed. I associated the word Montessori with a child-led classroom with no real learning objectives. I imagined our daughter leading the day with her little whims and shuddered at the vision of a chaotic school year that ended with no actual learning having taken place. I instead chose to pattern our homeschool after a more traditional classroom. I soon realized, however, that the strict classroom structure was stifling areas of my daughter’s development.
Having gone through chemo to treat Acute Lymphocytic Leukemia (ALL) in her infant and toddler years, she struggled to grasp math concepts, and the traditional classroom model moved too quickly from one concept to the next. Sadly, she began to doubt her own intelligence and ability to learn. I knew things needed to change. I began to experiment with different curricula and programs that were sensory and visual, and her academic improvement was striking. Since then, I’ve discovered so much more about whole person formation (body, soul, and spirit) and have seen firsthand where a traditional classroom approach can fall short of the mark.
That’s why when Paula approached me with her vision for Selah Academy, I was elated and jumped in with two feet. Her belief that children have enormous potential to connect with God and her vision for Selah to be a place where children can encounter Christ and learn about His world through discovery-based experiences fit exactly into what I want for my future students.
Paula and I attended Catechesis of the Good Shepherd training together, which is based on the original Montessori method of learning. During this training, all my already crumbling former prejudices against a Montessori classroom were completely dissolved. I truly believe that this method of learning fits well with a child’s development and am thrilled to be part of a school that will be implementing pieces of the Montessori method.
If what I have written here has piqued your interest in Selah Academy, perhaps you might be asking, “but how do I pay for it?” Below you’ll find a few ideas listed for you to consider:
Education Savings Accounts
Your accountant can advise you on the various savings accounts you may qualify for to put towards Selah Academy tuition. A few savings options to ask about are listed below.
529 Plan or Qualified Tuition Plan. This works similarly to an IRA or a 401K in that your investment grows tax-free. But it’s a specific type of savings account that is for educational purposes, and in 2018, the federal government passed laws that made it possible for parents to pay for K-12 education with tax-free money from a 529 savings account. Of course, the earlier you start a 529 savings plan, the more you can earn tax free to be able to put towards your child’s private education. There are 2 types of plans in Virginia: 1) a prepaid tuition plan and 2) an educational savings plan. Visit www.virginia529.com for more information on these two plans. Some points to consider with regard to the 529 plan:
The federal gift tax exemption is $16,000 per recipient per year in tax year 2022. You can contribute to a 529 plan with no limit, however, anyone who contributes more than this $16,000 exclusion amount to a single person in a single year through a 529 plan can be subject to the federal gift tax for the first amount over $16,000, for the tax year 2022. The maximum savings amount with Virginia529’s limit is set at $550,000.
This plan allows you to invest money tax-free if withdrawals are used for qualified expenses. You can use up to $10,000 per year in 529 funds for a student’s private k-12 school tuition.
On the Federal level, contributions aren’t tax deductible but qualified plan withdrawals are free from income taxes or capital gains taxes.
You can shop around various states to find the best plan. Rules vary from state to state regarding the tax benefits on qualified withdrawals. You don’t have to live in a state to use that state’s plan. Go to www.edchoice.org for more information.
Coverdell Education Savings Account (ESA). There are stipulations for the Coverdell ESA that your accountant can go over with you, but here is a summary of the main points.
The earnings are tax-free if used for qualified education expenses.
You can use the ESA to pay for expenses at eligible schools. The Coverdell can be used from kindergarten to graduate school.
Qualified distributions are tax-free.
The beneficiary must be under 18 at the time of distribution, except in the case of a special needs beneficiary.
You can contribute to as many Coverdell ESAs as you want in any year, however, you may only contribute $2,000 per child per year and depending on your AGI.
Child Dependent Care Tax Credit. Families with children in Selah Academy’s Pre-K program may qualify for the Child Dependent Care Tax Credit. Your accountant will be able to advise you on eligibility.
A few criteria are listed below.
If you hire someone to take care of your child so you can work or look for work.
You must be able to claim your child as a dependent.
Your filing status must be single, head of household, qualifying widow or widower with a qualifying child, or married filing jointly.
You may be able to claim up to $1,050 if you have one child and $2,100 for two or more children. It is based on a sliding scale, so an accountant would be able to determine the final amounts.
Grandparents
Some parents, grandparents, and even aunts and uncles have a vested interest in helping to provide their relatives with a Christ-centered education. At the very least, you could ask relatives to contribute to a child’s 529 Plan for birthdays or other gift-giving events.
Tuition Assistance
Selah Academy hopes to offer financial assistance to qualified families through donations made directly to our school, and by working with VDOE-approved scholarship and assistance foundations in the future.
Mary Fisher, Teacher and Business Manager at Selah Academy