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Creative Ways to Pay for College

ID-10091879High school students, by now you are probably thinking about college and how you are going to pay for your education. College costs are skyrocketing, but this shouldn’t stop you from realizing your American dream. In order to pay for college and make sure that you’ll have the best college experience; keep these creative tips in mind:

  • Apply for Financial Aid. Most students, regardless of financial status qualify for a type of financial aid, so there’s no good excuse not to fill out Free Application for Federal Student Aid (FAFSA) form. Look for free money first such as scholarship and grants, and then seek other types of financial aid packages to cover other educational expenses.
  • Stick to a budget. Determine how much money you have and examine your expenses. Create a budget by making your own spreadsheet or by downloading a template online. After you have finished creating a budget, do your best to stick to it. Bear in mind that it is not about how much money you have, but about how you stick to your budget.
  • Apply to more than a couple of colleges. Applying to multiple schools will give you more options and will enable you to compare college costs and financial aid packages.
  • Save money on textbooks. Purchase books early and opt for used books, which can be a lot cheaper than new ones. You can also look for cheap books- new or used – online.
  • Make extra money. Look for part-time jobs to keep income flowing. You may also want to sell your old, used textbooks to other students. Remember to put your earnings in a savings account.

Saving for Your Children’s College Education | Nationwide Biweekly

Every parents want the best for their children. You work hard to make both ends meet in order to ensure that you are giving them the best future possible.

Image Credit: Kozzi

Because your child’s future depends on you, you should aim at giving them a good education. To get off to a good start in preparation for your children’s college education, be sure that you make it a part of your financial savings plan. Here are several ways you can save for your children’s education so you and your children can live a life that is debt-free and far from stress- as far as money is concerned, at least.

1.       Start saving early

Cramming is never a good idea, and procrastination can be the most serious sin you can commit when planning for your children’s college education. Take this advice from nationally renowned financial guru, Dave Ramsey:

“Regardless of how you save for college, do it. Saving for college ensures that a legacy of debt is not passed down your family tree. Sadly, most people graduating from college right now are deeply in debt before they start. If you start early or save aggressively, your child will not be one of them”

 2.       Figure out the net cost

Are you planning to send your children to a public or private university? Before deciding, keep in mind that a higher cost does not necessarily mean better quality. Determine which institution will more adequately meet your children’s needs at a price affordable to you.

When figuring out the cost of colleges, take a look at the actual out-of-pocket cost for each school and not the sticker price. Overall, private colleges can be more expensive than in-state colleges. While both offer scholarships, most private colleges offer better financial aids than public universities.

 3.       Let your children know about your savings plan

Get your children involved early on in the saving process and make them understand how you are planning to save for their future education. Teach them the importance saving and help them develop a good saving habit.

When planning for your children’s future education, don’t get fooled into thinking student loans are the only option. The key is to start saving early and regularly. Have you started saving yet?