As college tuition prices continue to rise, it becomes more difficult to save and prepare for the cost. Here are some tips to help you get your funds together for the big investment:
Pick the right account. Look for special savings accounts that have higher dividends to help your money grow while you are tucking it away for a later like Apple’s Education SuperSaver Account. This is a good way to have your money work for you by allowing a financial institution to assist with your major goal.
Put money away often. Setup a direct deposit with your part-time job paycheck and set aside money into a savings account like Apple’s eXtras Student Savings. Even small amounts of cash stack up quickly when forget it’s there, especially if you’re earning dividends (also known as interest, more cheddah, cha-ching, etc.). You will still have funds to go out and catch the latest flick or have dinner with your friends. It will just be a little less with the money you are saving.
Apply for scholarships & grants. Take the time and research what scholarship and grant opportunities exist for you. Sites like Scholarship.com explain what to do and how to do it.
Look into “realistic” options. Consider a community college before transferring to a traditional 4-year college or university. Get your “base” classes in and then make the big move. This way, you can continue to save or limit your student loan balance. Plus, check out the different cost options between in and out-of-state schools.
One thing is for sure, the sooner you get started, the more money you will have when it comes time to enroll.