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Last Updated: Jul 2nd, 2008 - 21:15:22 |
If you have children you should start thinking about how you are going to send them to college. It doesn't matter how young your kids are. It is an expensive but important part of parenting. If you do not have a college plan already here are some ideas on how to begin one.
1. Start Saving Now
One thing is definite, you can not have too much money or begin to plan to soon for your child's college education. Every year the cost of a college education gets higher. You should put a college savings plan to work for you now. Saving a little bit a month will help you to begin and your money will grow as you are saving it.
2. Plan Ahead
Most parents think if they are putting some money away in a college fund that they are planning. Yes, this is a beginning, but there are many things you need to take into consideration long before your child is near college age. Did you know you have to send an application fee to every college you apply to? If you and your child apply to several schools you can spend hundreds of dollars before you get into the school you decide upon.
3. School Counselors Don't Have All The Answers
Counselors at school can be helpful, but don't reply only on them. They are busy helping lots of families so you must be proactive in learning about school, and the funding available to you and your child for them. You can run your ideas by the counselors and the teachers, and listen to their advice. You can ask them what you should be doing to help with this task. Learn all you can aobut scholarships and financial aid programs. Apply for all of them.
4. Get Your Kids Involved.
While you will want to be proactive in getting the funds for your child's education you should also let your kids do some of the work. Let them fill out their own forms, Get them involved. Give them the opportunity to give some input and ask questions when they want. Let them know your financial plan and let them be involved in putting some of their allowence into the savings. Let them know it is for them to be used for college and share some of the responsibility of helping this fund to grow.
Let your kids check out colleges long before it is time for them to go to one. They will have to decide where they want to go and what courses they will want to study. It is an important decision, and they will have to make it.
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