It seems like the cost of going to college keeps on rising year after year. Who knows how expensive it will be by the time your little ones are ready to apply! If you have a teenager who is about coming up to college age, then you are probably starting to really stress about the cost. Don’t worry – these tips can help you keep the expense of college to a minimum.
Start Saving From Day One
The more savings your child has, the easier they will be able to afford college. For this reason, most parents set up a bank account in their child’s name shortly after they have been born and start saving into it as soon as possible. You don’t have to save a lot of money each week – even just $5 a week will make a huge difference by the time they are 18! The earlier you start saving for your child, the more money they can amass!
Apply For A Scholarships And Grants
If your child is particularly gifted, they might be eligible to apply for scholarships and grants. The Capital Alliance scholarship is one example of the kinds of scholarships and grants out there that kids can use to fund college. Before you apply, it is important that you are 100% sure your child is eligible as most have very strict regulations on who can apply.
Did you know that some colleges are a lot more expensive than others? Because of this, it is important to pick your child’s future college wisely. A large public college will charge higher fees than a much smaller college. But it is often better to choose a public college than a private one, as private colleges are the most pricey.
Go To Community College First
Your child will have the option to first attend a community college for two years to take an associate’s degree. Most students choose to do this if they feel like they need more time to academically prepare for the challenges of college. But this can actually be beneficial when it comes to the cost of your final degree. That’s because some colleges accept credits earned at community college, and this will then reduce the time needed to study for the final degree, which will bring down the overall cost.
Take An Accelerated Course
Another way you can help your child reduce their time at college is to encourage them to take an accelerated course. Most accelerated courses are open to intelligent and able students who will be able to study for a course in just half the time. There are also some colleges that offer courses without holiday breaks. These involve year-round study, but they are worth it when it comes to the reduced fees!
As you can see, you don’t always have to break the bank to send your children to college. There are plenty of ways to make it an affordable form of education. Do you have any more tips? Let me know!