Saving tips and tricks for college for students
A college education can be very expensive. While parents do their best to arrange money, even students can do their bit. In this article, we look at saving for college for students so that they are aware of some tips and tricks to save money for their education.
When it comes to saving for college for students there are many practical tips that can be used. The following are some of the tips that students can start practicing when they are at school. Even after joining college, there are tips and tricks that allow them to save money and use it for their college education.
- The best way to collect money for a college education is to get a scholarship or grant. A scholarship helps you get money to be able to cover at least a major part of the expenses, if not the entire cost. You need to start preparing for a scholarship at school. There is a lot of competition to get scholarships and grants. You need to do well in academics or at sports to be able to get a scholarship.
- Start saving what you can at school. You can cut down on a lot of unnecessary expenses. Remember that you can enjoy life once you start earning. Until then, you need to make sacrifices. Save money on your expenses and keep them in hand for your college education. Look for discounts and coupons to save money on your expenses.
- A 529 plan is a tuition plan that allows you to save money for a college education. Of course, your family has to contribute to it. To save for college expenses of $135,000, you need to save $2196 monthly. A major part needs to be contributed by family. This is something the family needs to sit together and plan.
- You can start doing part-time work while at school. There are many paying jobs and you can even take up jobs for friends and neighbors. Babysitting, pet sitting, house cleaning, gardening are some jobs you can do in your free time to earn money. Every dollar earned helps you accumulate money that you can invest in a 529 plan and reduce your parent’s burden.
- You can even earn college credits while at school. This is possible through advanced placement classes. Earning credits allows you to save on the fees you pay.
- Save expenses at home like electricity expenses spent on TV and heating. Every single dollar that you can save is money that helps you in your future education.
- Consider joining a community college instead of regular college to reduce the overall fees. This can be helpful as you need to save lesser for your college education.