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How to Fund Your Child’s College Education

4 WAYS TO FUND YOUR CHILD’S COLLEGE EDUCATION 

College is a fun and exciting experience for your children. However, most colleges require a high figure investment that can often send most parents into a panic.  Granted, there are academic and sports scholarships that are offered. However, there are still exam fees, living expenses, equipment, textbooks and more. So, it begs the question: How can you pay for your child’s education with a limited budget?

 

  1. Savings

The most popular way to save for your child’s college fund is to save for it.  This may require cutting costs, and packing lunches instead of buying lunches and cutting costs wherever you can.  If you know your child is going to be attending college in the next 4 years, it’s imperative that you stick to a strict budget and save the amount of money he/she needs to succeed.

 

  1.  Your child can get a part-time job

Many high school students get a part-time job to buy the latest gadgets, sneakers, and clothes. However, there are some savvy high school students that know the future is in their hands. Therefore, they will get a part-time job to start saving for their college expenses.

 

  1. Student loans

While going into debt is not highly favored, sometimes a student loan will get your child the funds he/she needs to go to the school of their choice.  However, most student loans may take years to repay. Therefore, many students are opting for jobs and other ways of funding their college education. When they finally get a job, they don’t want to take forever paying off their student loans.

 

  1.  Talk to a college consultant –

College consultants are more than mentors or advisees. They are actually an advocate for your child and can help you and your child negotiate scholarships and tuition fees that work in your child’s favor. If you are having a hard time figuring out how you will fund your child’s college education, a college consultant will provide you with the information and resources you need to make sure your child gets into the college of his/her choice.

 

When it comes to paying for your child’s college education,  it’s easier than you think. If you start saving when your child is in high school, you most likely will have enough savings to make sure your child college expenses are covered.

 

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