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Wealthy parents increasingly seeking financial aid for K-12 education

Move over college students–you’re not the only ones seeking financial aid to pay for tuition. More parents are applying for loans and other help to pay their kid’s [1]private elementary and high school tuition, reports CNN Money.  And it’s not just the poorest families looking for help. The number of families earning more than $150,000 that requested financial assistance for the 2010-2011 school year increased 6 percent since the 2002-2003 [1], according to CNN Money, which reports that 20 percent of families seeking financial aid to pay for K-12 education are in that income bracket. The average cost of a year of private school is $21,995 [2], a figure that’s ballooned 35 percent since the 2001-02 school year when adjusted for inflation, according to the New York Times…

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