How Much Does It Cost to Homeschool?

There's a personalized approach to homeschooling, but it can come at a monetary cost. fizkes/Shutterstock

Homeschooling is when a child’s education is conducted by the parents. Between 2022 and 2023, according to the U.S. Census Bureau, nearly 6 percent of school-age children were reported as being homeschooled. Alaska (12.6 percent), Tennessee (9 percent), and West Virgina (8.9 percent) were the top three states for homeschooling.

There’s a personalized approach to homeschooling, but it can come at a monetary cost. Before heading down the homeschool path, it’s important to know the cost.

Financial Considerations of Homeschooling

Although there are some free materials available, overall, there are many costs incurred by parents who homeschool their children. It’s important to explore these costs when planning to homeschool.

Cost of Curriculum

This is a primary expense. There are several choices when it comes to curriculum, options include pre-packaged curricula, online courses, textbooks, and educational materials.

The costs can vary depending on the grade level of the curricula chosen.

As part of the curriculum, you also must have extracurricular activities and field trips to meet state requirements and provide a well-rounded education.

Homeschooling a charge costs range between $700 and $1,800 per child.

The breakdown is materials ($150 to $750 per child depending on the grade), field trips ($100 to $250), and extracurricular activities ($100 to $500).

Note that homeschooling saves the federal government $24 billion per year.

There’s also the cost of technology, including computers, software, and internet access.

Or you may be able to buy special tools, like science kits or art supplies. You may be homeschooling, but you still must meet the state’s minimum requirements for education. The Homeschool Laws by State page on the Homeschool Legal Defense Association (HSLDA) website will provide you with some information by state. But double-check with your local school or state education department.

What Are the Tax Implications?

The federal government doesn’t give tax breaks or allow deductions for homeschooling children.

There are a few states that give tax breaks. These include:

• Illinois—eligible families receive up to $750 yearly under the Education Expense Credit
• Indiana—families are eligible for up to $1,000 tax deduction
• Louisiana—a tax deduction of up to $5,000 per student is provided
• Minnesota—families may be eligible for a tax credit or a tax subtraction, whichever reduces liability

These are currently the only states that give tax breaks for homeschooling. The remaining states do not.

Ways to Save on Homeschooling

Finding ways to save money is imperative when homeschooling. Here are some strategies that might help you.

Free Resources Available

Customizing your child’s education is a big part of homeschooling. But that can be expensive. Fortunately, there are some free sources available online. Sources include educational websites, open educational resources, and online libraries.

With these resources, you can access numerous educational materials, such as worksheets, lesson plans, interactive activities, and textbooks.

Educators create many resources; this ensures they are aligned with standards. Popular free platforms include Khan Academy, OpenStax, and Project Gutenberg.

Use these free resources to reduce the cost of purchasing expensive textbooks and other materials. This will allow you provide a sound education while staying within budget.

Various Funding Options

There are several possible funding options available to lessen the financial burden. There are scholarships and grants that could help and may be available to cover curriculum, resources, and other educational expenses.

These scholarship opportunities are offered by homeschooling organizations, foundations, or other educational institutions. The Scholarships360 website lists scholarships for homeschoolers.

Co-ops and Group Discounts

Connect with other homeschoolers and take advantage of group discounts when buying educational materials. Group discounts are often available for online classes, educational outings, and educational materials.

There are also homeschooling co-ops. These are collaborative groups of homeschooling families that come together to share resources. They can pull their resources to purchase curriculum, hire tutors, or share teaching responsibilities.

This approach not only diminishes the financial burden but provides a sense of community and support.

There are often local homeschooling associations, online forums, and social media groups.

Traditional and Private School Costs

How does the cost of homeschooling compare to other forms of education?

The cost comparisons between homeschooling, traditional schooling, and private schooling depend on many factors.

Except for some supplies and books, a public school is paid for by taxes. So it doesn’t cost much, if any, per student.

Private schools vary with their tuition and type.

Catholic schools or parish schools annually charge $4,840 per elementary student and $11,240 for secondary level. You also must buy uniforms and some supplies

The median tuition for a private day school is $16,000. Those who are members of the National Association of Private Schools charge a medium tuition of $27,000.

You also must purchase supplies and uniforms.

Homeschooling Costs and Solutions

Homeschooling is a viable solution for many parents. But it can be an expensive proposition. Check with your state and take advantage of any deductions your state allows.

Combine forces with other homeschooling parents and take advantage of sharing educational resources.

Don’t forget to go online and use the free materials available.

The Epoch Times copyright © 2024. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.