Each September we like to bring awareness to the importance of saving for college.
For lots of parents, thinking about saving for your child’s college education can be a daunting feeling. However, the earlier you begin the more time your investment has to grow. Not to mention, saving for your child’s college education is also the perfect time to teach your child how to begin a habit of saving.
Keep in mind there are several ways to contribute to your child’s college savings. You can open a savings account specifically for the purpose of funding your child’s college education. Savings Choices – First Community Bank (fcbanktn.bank) The key to any successful college savings plan is to contribute on a regular basis. Automatic deposits is an easy way to contribute without having to remember. You can even ask friends and family to contribute to the college savings fund with birthday or special occasion gifts. Finally, teach your child to contribute with a portion of his or her allowance, or as they get older, a portion of their earnings.
The U.S Department of Education website Home | U.S. Department of Education, also provides information on grants, scholarships, and more.
Let’s face it, college is getting more expensive each year. However, by starting early, contributing on a regular basis, and teaching your child how to begin a habit of saving, you can establish a great foundation for helping to pay for your child’s secondary education.