Save for College
All parents want their children to go to college. Unfortunately, tuition is rising every year. In order to make your children's higher education a reality, you have to start saving now. Here are some saving tips to ensure that your children go to college.
1) Get a savings plan. If you start earlier, your money will make more money for you. You can start a college fund on your own or get a state-sponsored 529 College Savings Plan for tax-free growth. Start with riskier investments when your child is younger, and make your investments more conservative when he or she reaches high school.
2) Get federal grants and loans. Federal Pell Grants are awarded to students based on the cost of the university and whether the student is attending part time or full time. They only provide students with up to $3,500 so you'll have to supplement with something else. You can also get Federal Perkins Loans and Stafford Loans, which come unsubsidized and subsidized, i.e., with and without interest respectively.
3) Look into scholarships. There are literally billions of dollars out there, and they're not just for valedictorians and star athletes. They can be regional or for students connected to particular organizations.
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