How to Save Money for College
We all know that the cost of raising a child is, well, a lot of money. From medical costs, to dental, to sports and more just to get our kids to the age of eighteen can cost upwards of $225,000. Now for the bad news, do not forget college. We as parents have great aspirations for our children to be smart and further their education to be all they can be. This all comes with a price tag and we would love to help you learn how to save on those costs!
Start Saving for College Early
Remember the earlier you start putting money away the better off things will be. There are many analysts out there that say it is better to save for your retirement then to save for your child’s college needs. This may be true in some aspects because we know that some kids decide not to take that college route.
Use Those Grants!!
This is the next best thing to sliced bread, folks! It is like a money tree growing in the back yard! There are many grants made available to students everywhere. Grants work like scholarships and are not repaid. Students can apply for a grant and then if chosen will be able to use that money towards tuition or books. Now tell us that is not an awesome deal! Someone writing you a check for your education without a repayment plan or interest attached!
Yeah I know, it seems like an obvious thing but the better the grades the vaster the options will be when saving on your college education. Getting good grades in High School will lead to potential scholarships and grants for later. School is not made to be easy, so challenge yourself and stay focused on the prize at hand, a great career doing what you love!
In-State vs. Out-of-State
Many students opt out of a 4 year college or university to attend a local community college. This is a great opportunity for many kids that otherwise would not have college as an option. However, if you are choosing to go to a 4 year college right out of high school goes for one that is located in the same state you live. You will be amazed at how much of a tuition difference there is between out of state and in state. Over a four year period you could save thousands and thousands of dollars.
Research all the colleges and universities in your state that has the program you want to major in. Be sure to price compare along with investigating how they rank among others in their division. Do not skimp on a great education because of the cost; just be sure to check all available options!
Working Young is not bad after all…
Another great option to check out is any available internships the college or university. If the school is nearby see if you can get an internship while still attending high school to save on the cost of college. There are some schools that allow college credit to be given for a class or program. The more classes you are able to complete outside of that 4 years, and get credit for, the better.
Some Seniors in high school will take their normal classes in the morning, leave at lunch and do their internships the rest of the afternoon. Just think, if you can save by taking a class without having to pay for it, you can save a grand or so there.
It is great to have options but it is great to be limited also. When choosing a major it can be difficult for many students because they limit themselves to one thing with choosing a minor. Sometimes choosing a minor can give you more options for grants and scholarships while in college, but many options outside of college. The job market is not what it used to be and hopefully in the coming years it will get back to where it used to be.
However, so many college grads are without a job right out of college and it is heartbreaking. They now are have to repay those loans that they took out just to get that education and without a job that can be impossible. Set yourself up with a few options for your study and be sure to put yourself out there to gain as much as possible for a small cost.
So, you really can save for college!
Going to college does not have to cost an arm and a leg. Save money on college with the many different options out there. It is no reason for a student not to be able to attend a 4 year college for minimal cost. Do a little research and you might just be surprised how much free money really is out there!