10 Ways To Afford Your Teen’s Residential Treatment Center

Choosing to send your son or daughter to a residential treatment center for troubled teens is not an easy financial decision to make. To help you determine how you can afford to send your teen to a residential treatment center, we have 11 different options you can pursue.

1. Talk To A Troubled Teen Program Consultant

A consultant who specializes in troubled teen treatment programs can help guide you to the best programs for your teen, which take your budget and your teen’s needs into consideration.

Here at Help Your Teen Now, we act as program consultants and parent advocates. We help parents from their initial program search all the way to assisting with the teen’s transition process home. Even better, we offer our services completely free of charge, as our reward comes from bringing families back together.

2. Discuss Residential Treatment Center Financing Options

Most residential treatment centers have a financial officer who can discuss financing options with you. Some residential treatment centers for troubled teens offer partial scholarships, discounts for upfront payment, and/or low-interest loans through third-party financers.  

3. Contact Your Health Insurance Provider

Depending on your health insurance coverage, your troubled teen’s treatment at a residential treatment program can be covered by your insurance provider. Be sure to contact them to discuss your options.

4. Look Into Educational Loans

There are K-12 educational loans available, which you can apply for through your bank or another financial institution. These loans are similar to college loans, and many parents use them to finance their children’s private education.

5. Strategically Use Credit Cards To Place Your Troubled Teen

For some of the initial costs, such as placement fees and program deposits, you may want to use credit cards which come with frequent flyer miles. That way, you build up enough points that you can fly your teen for free to the residential treatment center.

6. Tap Into Your Network

Before you exhaust your personal funds and leave your family in a tight position financially, reach out to your personal network. Often, family and friends are willing to help support your troubled teen receiving the help they need. You can use crowdsourcing sites like GoFundMe and Indiegogo to maximize your reach.

7. Consult With A CPA

By working with a good CPA, you may be able to deduct some of the cost of a residential treatment center from your taxes. It is important that you choose a program with qualified mental health staff and medical professionals so it can be possible to have some of the expenses deducted as medical expenses.

8. Utilize Your Troubled Teen’s 529 Plan

If you have a 529 Plan for your teenager’s future college endeavors, now may be the time to break into that savings. While it is not ideal, without your teen receiving the help they need now, they likely will not be in the right position to use their 529 Plan.  

9. Take Out A Home Equity Loan

Taking out a home equity loan can be an effective way to finance your teen’s enrollment in a residential treatment center. You can also deduct the interest payments on your future income taxes.

10. Transfer Your Teen’s IEP

If your teen has an Individual Education Plan (IEP), you may be able to have the public school district pay for your teen’s time in a residential treatment center. The Supreme Court has ruled that if a public school is unable to meet a child’s IEP, the school needs to pay for the child to be educated where the IEP requirements can be met.

Depending on you and your troubled teen’s specific circumstances, there may be other financing opportunities available. Contact us today, and we will help you sort through all your options regarding troubled teen residential treatment centers or other troubled teen programs.

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