Private schools prep for economic hard times - Diane Rado and Jo Napolitano, Chicago Tribune

As the economy tumbles, administrators scramble to help families keep their children in private schools. Marmion Academy in Aurora has been helping students pay their tuition for years and it has always been enough—until this year. Now Headmaster John Milroy is trying to create an emergency fund to help students stay at the school as more families carry $5,000 balances on their tuition of $8,800. "Unless things change shortly, I anticipate this trend of emergency need will continue," he said. From prestigious schools that attract wealthy families to church schools that serve the poor, private schools are feeling the pinch of an economy gone bad. Financial aid applications and scholarships are on the rise, and admissions applications are flat to slightly declining, private school officials say.