Have you started saving for college?
a co-worker whispered apprehensively when I announced my first pregnancy at the office.
The question wasnt unreasonable… even though my kid will be in the graduating class of 2037.
Do sobering numbers like these keep you up at night, wondering how youll ever foot the bill?
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
Try this concept on for size…
Dont pay for college.
Grab your smelling salts.
you could absolutely do it.
My parents were educated beyond college and wholeheartedly believe in the importance of higher education.
Let them know youwontbe paying for college.
Their high school academic performance and extracurricular activities weigh heavily in the acceptance process and decide many scholarships.
So check that your kids know they need to make the most of those years.
Reduce the Costs
College doesnt have to cost a fortune.
Consider high-performing, lower-cost state schools, particularly those in your state.
Buy textbooks used or rent them.
Room and board costsan average $10,000 to $11,000 annually, according to The College Board.
Save some money by finding an on-campus or near-campus room that allows your child to make their own meals.
Have themget a roommate or three.
College is more fun with roommates anyway.
If youre all willing, have your kid live at home during college for free or a minimal cost.
Take Advantage of High School
Fewer required courses needed in college means a smaller tuition bill.
confirm your kid takes as many college preparatory and Advanced Placement classes as possible.
Have them sign up for theCLEP examstheir desired schoolsaccept.
By taking these steps, they can bypass introductory college classes and even receive college credits before matriculating.
Additionally, consider investing financially in a private high school education to set your child up for success.
Look into the extracurriculars college admission boards love, like leadership opportunities, service clubs and honor societies.
Together, work on identifyingscholarshipsand contests that award money to students.
Be sure to accurately fill out theFAFSAand any school-specific aid forms and submit them on time.
One moms system helped her son earn more than$100,000 in scholarships!
Use your know-how to help intelligently filter through loan options.
Put it all in writingand keep meticulous records to avoid confusion down the line.
Get a Job
Its tried and true.
Have your child consider the possibility of taking reimbursed night classes while working during the day.
Or, delay college for a year or more to serve in an organization that will pay college costs.
Do You Plan to Pay for Your Kids to Go to College?
Dont listen to your friends who are sacrificing their retirement funds for college savings plans.
Thats what I want to give my kids.
Your Turn: Will you try this with your kids?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
