Just last week my oldest turned 13!! Can someone please explain to me where the time has gone? It seems like just yesterday I brought him home from the hospital, celebrated my first Mother’s Day, and worried about his sleeping and eating patterns. Now? I worry about his internet usage, what his grades are like, where he will go to high school and what about college?
I know, I know, I’m getting ahead of myself, he is only in 6th grade after all but the reality is that with five kids I need to think about college already. College was competitive and prices were steep when I graduated over 15 years ago, and now it is even more, so we need to make sure to prepare our kids for the rigors of college and prepare ourselves for the cost.
Tips for Paying For College
1.Start saving early–ideally, you should start saving for college while your children are still in diapers. Every little bit helps so don’t worry if you can only put aside a small amount when your children are younger.
2. Involve your kids in extracurricular activities–my kids are all involved in competitive swimming and they all play golf. We recently switched swim teams to a more competitive team, play for extra golf lessons etc, because we feel that the qualities that they learn from competing at a higher level helps them to be more well rounded and that makes them more attractive from a college admission and financial aid standpoint.
3. Research local organizations in your area that offer scholarships to students–groups like the Kiwanis Club or Rotary often offer scholarships to students in the area. While these scholarships don’t typically add up to a lot of money every little bit helps when trying to defray the amount of money you need to borrow.
4. Encourage your children to get a part time job to help pay for college expenses–a summer job or a part time job during the school year may not add up to much but it will give your child some additional spending money throughout the semester.
5. Finally, as parents we need to plan for how we are going to pay for college for our kids. Will we be paying for the entire tuition bill? Encouraging them to apply for loans? Making them foot the entire bill themselves? By exploring our options early we will be able to determine how much we will be able to help our kids with their higher education goals. Thankfully, we won’t have to do it alone.
Did you know that College Ave Student Loans has launched a New Parent Loan, which offers savings over Federal Plus Loans. With no origination fee and a lower fixed interest rate than the federal program, College Ave Student Loans new parent loan offers qualified parent borrowers an average savings of $1,000 vs. the Federal Direct Parent Plus program.
College Ave Student Loans offers more flexibility to fit your specific financial situation than many other private parent loan options.
- Option to get up to $2,500 deposited directly into parents’ bank accounts so they control the spending for extra education expenses like books, electronics, dorm supplies and more.
- Parents also have the option to start paying in full right away, or to limit monthly payments while the student is in school, and to pick their own repayment terms from 5 to 12 years.
I personally love how College Ave Student Loans makes the student loan process easy, simple and clear so students can get on with what matters most: a bright future.
Want to learn more about College Ave Student Loans and how they can help you and your children achieve their dreams? Check out the College Ave Student Loan parent page and the College Ave Student Loans qualification tool.
What steps are you taking now to ensure a bright educational future for your children?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.