💰 How to afford homeschooling

When families think of homeschooling, they often envision an affluent family who can hire private tutors and afford expensive extracurriculars to support their children’s learning. However, according to US census data, the average homeschooling family is just as likely to be poor or near poor as any other family.

In this post, we provide a cost-benefit analysis template to help families compare the cost of homeschooling to traditional education (both public and private schools), share our favorite free and inexpensive homeschooling programs, and highlight resources to help fund your child’s education, including company perks, tax credits, microgrants, and school vouchers.

If you’re an entrepreneur or investor curious about the unit economics of homeschooling, this post is also for you.

Introduction

In this post, we’ll show you how to create a cost-effective, high-quality approach to homeschooling whether you’re struggling financially or in a position to make a larger investment in your child’s education.

Homeschooling is more accessible to low and middle-income families than many realize. It’s no surprise that it’s considerably more affordable than private school, especially with multiple kids. Public school (though technically “free”) comes with its own rising costs: back-to-school supplies, afterschool classes, sitters, summer camp, tutors—as well as more substantial related expenses such as renting or buying a home in a preferred school district.

Childcare is the most significant expense to consider when weighing the costs of homeschool vs. traditional school. Curriculum is often available for free or at a discounted price, but the childcare requirements of homeschooling might mean changing to a remote or part-time job, the loss of a second income, or hiring a part-time or full-time provider.

However, there are childcare advantages to homeschool, too. Unlike school, which typically provides care from 9-3pm, nine months of the year, homeschooling offers families the possibility to curate a flexible childcare plan aligned with their budget and work schedule. Many families working remotely have made this work through block scheduling: kids study independently in 2-3 hour blocks while parents work, hiring a parent helper, or swapping with other families. Homeschooling may also allow families to move closer to grandparents and extended family to help with childcare.

Furthermore, homeschoolers have a long history and culture of resource-sharing, sharing childcare, curriculum, and other expenses (including clothing and food).

Last but not least, there are many free resources available to homeschoolers (both online and in-person) that we’ll share in this post.

Still not sure you can afford this route? We’ll take you through a cost-benefit analysis to help you make the best choice for your family.

PART I: Costs of Homeschooling

1. How Much Does It Cost to Homeschool? It’s More Affordable Than You Might Think.

Homeschooling can be surprisingly affordable. Many families manage to homeschool on a tight budget by taking advantage of free resources, such as online courses, public libraries, and community programs. While there are potential costs involved, such as curriculum, supplies, and extracurricular activities, these can be tailored to fit within a family’s budget.

2. Two Examples: A Struggling Single Mom and an Affluent Family

Let's consider two scenarios. In the first, a single mom with a limited budget might rely heavily on free online resources, community programs, and shared resources with other homeschooling families. In the second, an affluent family might invest in private tutors, specialized courses, and numerous extracurricular activities. Both families can successfully homeschool, demonstrating the flexibility and adaptability of homeschooling to different financial situations.

3. Common Homeschooling Expenses

Homeschooling expenses can vary widely but typically include curriculum materials, educational supplies, extracurricular activities, and field trips. Some families might spend more on specialized resources or advanced courses, while others focus on low-cost or free options.

4. Childcare: Why Childcare is the Most Significant Expense in Homeschooling

Childcare is often the most significant expense in homeschooling, especially if both parents work. However, homeschooling offers flexibility in scheduling, allowing parents to create a plan that works around their jobs. Some families utilize block scheduling, where parents and children alternate between work and study periods, or hire a part-time helper.

5. Costs of Living: How Much Are You Paying in Housing to Live Near a “Good” Public School? How Much Are You Paying in Childcare to Live Far from Grandparents and Extended Family?

Many families move to specific areas for access to better public schools, resulting in higher housing costs. Homeschooling allows for greater flexibility in choosing where to live, potentially reducing housing expenses. Additionally, living closer to extended family can provide additional childcare support, further reducing costs.

6. School vs. Homeschool for Affordability: How Do They Stack Up?

While public school is often considered “free,” there are numerous associated costs, such as supplies, transportation, extracurricular activities, and childcare. Homeschooling can be more affordable when these costs are taken into account, especially with the availability of free and low-cost resources.

7. Questions to Consider in a Cost-Benefit Analysis of Homeschool vs. School

When considering homeschooling, it’s important to evaluate various factors, including the cost of curriculum, potential income loss, childcare needs, and the availability of free resources. Families should weigh these factors against the costs associated with public or private schooling.

8. Free Cost-Benefit Analysis Template

We provide a free cost-benefit analysis template to help families compare the costs of homeschooling to traditional education. Download our template and enter your own numbers to make an informed decision.

PART II: Free & Discounted Homeschooling Resources

9. Free Local Homeschooling Programs

Many communities offer free homeschooling programs, including library programs, museum classes, and community center activities. These resources can provide educational enrichment without added costs.

10. Free and Discounted Homeschooling Curricula

Numerous organizations offer free or discounted homeschooling curricula. Websites like Khan Academy, Easy Peasy All-in-One Homeschool, and Ambleside Online provide comprehensive educational resources at no cost.

11. Free Online Homeschooling Programs

Online programs such as Coursera, EdX, and OpenStax offer free courses and educational materials that can supplement a homeschooling curriculum. These programs provide access to high-quality education from reputable institutions.

12. Free Tutoring

Many organizations offer free tutoring services, either online or in-person. Websites like Khan Academy and local libraries often provide tutoring support in various subjects.

PART III: Resource-Sharing

13. Swapping Childcare and Education

Homeschooling communities often engage in resource-sharing, such as swapping childcare and educational responsibilities. Families can take turns teaching subjects or caring for children, reducing individual burdens and costs.

14. Pro-Tip: Reciprocate

Reciprocity is key in homeschooling communities. By offering to help other families, you can receive assistance in return, creating a supportive network that benefits everyone.

15. Ask for Help

Don’t hesitate to ask for help from your community. Many homeschooling families are willing to share resources, provide advice, and offer support to those in need.

PART IV: Funding Sources for Homeschooling

16. Getting Access to Free Resources Through Public Schools

Some public schools offer resources and support to homeschooling families, including access to online courses, extracurricular activities, and special education services.

17. Government Funding for Homeschooling

Certain states provide funding for homeschooling through vouchers, tax credits, or education savings accounts. Research your state’s policies to determine what financial support is available.

18. Microgrants for Homeschoolers

Organizations like the Homeschool Foundation and the Home School Legal Defense Association offer microgrants to homeschooling families in need. These grants can help cover the cost of curriculum, supplies, and other educational expenses.

19. Company Perks for Childcare and Education

Many companies offer perks such as flexible work schedules, childcare support, and educational reimbursements. Check with your employer to see what benefits might be available to support your homeschooling efforts.

PART V: Top Jobs for Modular Learners

20. Flexible Careers

Pursuing a flexible career can make homeschooling more feasible. Jobs in fields such as consulting, real estate, and healthcare often offer flexible schedules that can accommodate homeschooling.

21. Flexible Freelance Work

Freelance work provides the ultimate flexibility, allowing parents to work around their homeschooling schedule. Popular freelance fields include writing, graphic design, and digital marketing.

22. Remote Work

Remote work has become increasingly common, providing parents with the opportunity to work from home and manage homeschooling simultaneously. Many companies now offer remote positions in various industries.

23. Shared Goods and Services

Homeschooling communities often share goods and services to reduce costs. Families can exchange curriculum materials, educational toys, and even food, creating a supportive and cost-effective network.

24. Passive(ish) Income

Generating passive income can provide financial stability for homeschooling families. Options include renting out property, investing in dividend-paying stocks, or creating digital products for sale online.

Conclusion

Homeschooling is not just for the elite. With careful planning, resourcefulness, and community support, families from all financial backgrounds can successfully homeschool their children. By taking advantage of free and low-cost resources, sharing responsibilities, and exploring funding opportunities, homeschooling can be a cost-effective and enriching educational option for your family.