Financial Aid Options for Online Private School Education
Pearson Online Academy is dedicated to providing K–12 students with an affordable online private school
education. That’s why we offer several discounts and support for helping your family find financial aid
A high-quality learning experience can be a rewarding and worthwhile investment for a child’s future! See what
financial assistance option below might benefit your family.
Pearson Online Academy Scholarship Program
Scholarship applications are now closed for the 2021-22 school year.The Pearson Online Academy Board of Trustees is excited to continue the school's scholarship program to provide
full-tuition scholarships for both new and returning students. The completed digital interview and recommendation form must have been submitted by 11:59 pm ET on June 30, 2021. Please see our Rules & Guidelines page for more key dates and
submission information. Scholarship winners were notified on July 16.
There are also many other nonprofit and independent organizations that offer external scholarships and aid
packages for private school students. Get started with your scholarship search by browsing the top sources for private school scholarships.
The Freedom and Empowerment Scholarship Program
Scholarship applications are now closed for the 2021-22 school year. Pearson Online Academy, together with the Southern Christian Leadership Conference of Prince George’s County
(SCLC-PGC), is proud to offer its second year of the Freedom and Empowerment Scholarship program to up to 50 Black
students with a propensity towards activism in grades 6 to 12 to attend Pearson Online Academy for the upcoming
2021-2022 school year. The deadline for this scholarship was June 15, 2021 at 11:59 PM ET. The Freedom and
Empowerment Scholarship recipients are expected to attend Pearson Online Academy for the remainder of the
students’ primary schooling until graduation and will be required to do yearly projects and presentations to
the Southern Christian Leadership Conference.
The scholarship includes full tuition, a laptop, internet subsidy, and the hardware and software needed for
schoolwork. Visit the Freedom and
Empowerment Scholarship website for more information.
529 Plans: Now Usable for Elementary and High School
The federal Tax Cuts and
Jobs Act passed into law at the end of 2017 now allows tax-advantaged 529 savings plans -- which previously
could be used only for college costs -- to be used for elementary and high school. A 529 plan is similar to a 401k,
in that your contributions are invested for growth over time, with gains from those investments exempt from federal
tax. Further, depending on your state, your 529 contributions may be deductible from your state income tax.
Beginning in 2018, you will be able to withdraw up to $10,000 per year tax-free from you 529 plans for private
school tuition and other expenses. As guidance on 529 plans is evolving under the new tax law, talk to your tax adviser when considering use for Pearson
Coverdell Education Savings Accounts
The Coverdell Education Savings Account (ESA) is
designed to help families put away funds for the academic tuition of any U.S student under the age of 18, and
realize a federal income tax benefit from doing so. ESAs can be opened in the United States at any bank or
IRS-approved entity. Adults with a modified adjusted gross income of less than $110,000 ($220,000 if filing a joint
return) can contribute to an ESA.
There is no limit on the number of Coverdell ESAs that can be established for your student. However, total
contributions for him or her cannot be more than $2,000 in one year.
State School Choice Programs
Parents have a wide range of options to support their child’s private school education, including state
education savings accounts, vouchers, and individual tax credits. Be sure to check the EdChoice School Choice
in America Interactive Map to see what programs are available in your state.
Education Saving Accounts
With a state-based education savings account, parents can withdraw their children from a public
district or charter school and receive a government-authorized deposit. Unlike a Coverdell ESA, these accounts are
State ESA funds can cover the cost of Pearson Online Academy’s online learning program, as well as private
tutoring, educational therapies, community college costs, and other higher-education expenses.
State vouchers give
parents the opportunity to choose any method of private schooling—including Pearson Online Academy’s
accredited online private school—for their child by using public funds set aside for education. The funds can
be used to pay a student’s partial or full tuition.
Individual Tax Credits
Individual tax credits allow parents to receive state income tax relief for approved education expenses like a
private school tuition. At Pearson Online Academy, a student’s tuition covers the cost of course materials,
our challenging curriculum, and our advanced and engaging learning technology. Tax credits also help to lower the
total amount of taxes owed each year.
Discount and Payment Plans
Pearson Online Academy has several discounts available for full-time families. You can check the full list here to take advantage and save! We also offer monthly
payment plans at 0% financing for both full-time and semester enrollment.