Saving Money For College

Saving money for college seems almost impossible in this economy. People are losing their jobs and homes. Face it, finances are tight! So, how do you put aside money for your kids to go to college?

Educations is more important than ever. I used to be you couldn’t get a good job without a high school diploma. Now you need a bachelors degree and sometimes more! But college is expensive and financial aid is hard to get. Grants are great if you qualify, but if you get student loans someday they will need to be paid back.

I understand that sometimes a student loan is the only way to get through school. Just be smart about it! Don’t take more than you need for tuition and books. I know people who are struggling to pay back huge student loans because they used them to live on in college. There is no shame in struggling through school – it will make you a better person. Plus, you will be a better money manager because of it!

Some creative ways to save money for college are:

• Scholarships – Really. There are a lot of scholarships available and many of them have very few applicants. Many communities and organizations offer scholarships that may not be large, but every little bit helps! Check with counseling centers at colleges and high schools to find out what scholarships are available.
• Work for your education. Some colleges offer free or reduced tuition for their employees. If you work at least 15 hours at many colleges you qualify. Check with your school to see if they have a program like this.
• Give back. Many student loans offer loan full or partial cancellation of your debt if you work in public service jobs like the Peace Corp. Professional jobs also qualify if you work in a low income area. Teachers, doctors, lawyers, etc. can all participate in these programs.

Getting your degree does not have to be frightening financially. If you just do your research and stick to a plan, you should have no problem saving money for college!