Luckily, there are many online resources available that provide families information for homeschooling success.
"The good news about homeschooling is that it doesn't have to be expensive, and you don't have to compromise on educational quality to cut costs," Varsity Tutors’ Chief Academic Officer Brian Galvin told FOX Business.
"Some of the world's leading institutions – NASA, Stanford University, the Smithsonian, and much more – are home collectively to thousands of free, effective, and engaging grade-level and standards-driven lesson plans," he went on. "And there are a great many services where teachers and other homeschool parents share their lesson plans, projects, and even entire units--often using inexpensive household items for hands-on projects and experiments, or at least providing hacks to obtain necessary materials inexpensively and easily."
When free resources aren’t enough to cover homeschooling, the cost of a formal curriculum could range between $350 and $750 for a single child, according to average estimates shared by Time4Learning – an interactive homeschooling curriculum.
Factoring in potential costs for homeschool materials, field trips and extracurricular activities could raise the total annual price range anywhere from $700 to $1,800, Time4Learning reports.
Experts at the Home School Legal Defense Association (HSLDA) believe homeschooling can be done at a variety of budgets depending on how much work and time parents are willing to put into their child’s education.
According to the HSLDA, families who are on a tight budget can homeschool a child with a ballpark range between $50 and $100, but additional enrichment classes like art or music will likely not be included unless a parent can teach these lessons themselves or find free services.
Moderate budgets between $300 and $500 will likely be able to cover a core curriculum, a few enrichment classes, tutoring and access to online courses, the HSLDA states. Families that can spend $500 or more per child will likely have unlimited education options.
"The key to doing homeschool effectively and affordably is to tap into networks that share the vetting process of free lesson plans, projects, and resources so that most of your curriculum is pre-approved and you have more time to go find those diamonds in the rough," Galvin told FOX Business.
During the coronavirus pandemic, homeschooling has reportedly seen a spike while parents try to educate their children from the safety of their homes.
An updated study from the National Home Education Research Institute states the U.S. had an estimated 2.5 million K-12 homeschool students in 2019 and that number rose to an estimated 4.5 to 5 million by March 2021.