Ways to Pay for Your Kids to Go College

Posted by: Sally S. | Dec 15,2007

Finding ways to pay for your kids’ college can be a challenge. A while ago, I wrote about 529 savings plans, and how parents who use them have more money saved for their kid’s college than people who don’t utilize savings plans. Read on for more ideas to pay for your kids’ college:

 

One way to pay for your kids’ college tuition is not to pay for it at all. Huh? Yes, it’s true: believe it or not, a lot of kids have to pay for their own college tuition. Allowing your children to pay for their own education- or at least the bulk of it- can be a life-changing experience for them. Kids who pay for their own college educations are more invested in what happens- and more likely to stay on track with grades and class attendance.

 

Tuition for schools abroad is less expensive and it takes less time to get a degree. U.S. students can attend the famed Oxford University for $20,000 a year- a lot less than many private U.S. colleges. The average cost for schools in England for U.S. kids is considerably less, almost half as cheap as it costs to attend a private U.S. university.

 

If your children end up financing the cost of their college education, be there to help them understand their options. Your kids need help completing the endless mounds of paperwork for a student loan, scholarships or grants. And unfortunately, there are a lot of unscrupulous people out there taking advantage of kids who are paying for school. Provide a helping hand and lend a critical eye to make sure your child finds the right way to pay for school.

   

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