saving for college
Wondering how to handle college expenses? These strategies will mean money in the bank.
There’s no disputing the value of a college education. But with dramatically rising costs, finding ways to finance college has become much more challenging. Explore the various options that can help make college more accessible and cost-effective, such as tax-favored* savings accounts, and discover practical tips for seeking out scholarships, grants, financial support, and educational loans.
Paying for College
It’s less expensive to pay for college with savings than it is to borrow money and have to pay interest on the loan after graduation. Saving for college is like saving for anything else — if you start early and small, you’ll be surprised at how much you can save.
To help you save for a brighter future, we’ll tell you:
- How the Coverdell Education savings account works.
- How to smartly save for college.
- How to manage post-graduation debt.
- Should you save money for college or for retirement?
- Use our college savings calculator.
- Financial tips for preparing your kids for college.
- Learn about hidden college costs you may not have budgeted for.
Leveraging Financial Aid
Financial aid like grants and scholarships are the preferred way to pay for college since you generally don’t pay the money back. Financial aid can also cover a range of expenses, like tuition and fees, lodging, books, and supplies. So these programs are incredibly beneficial.
We will help you navigate the world of financial aid:
Borrowing for College
There are plenty of funding options available to borrow money for college. We’ll help you navigate them through topics like:
- Student loans 101: How do student loans work?
- The difference between federal and private student loans.
- Learn how to pay off student loans faster.
- Should I refinance my student loans?
- How to manage loan debt after graduation.
- Explore ways to pay for college with our Smart Money U™ program.
- Use our student loan consolidation calculator.
- What is Reasonable and Affordable Debt?
Other Education Center Resources
Have questions? We are here to help!
* This content was prepared for informational purposes only and is not intended to provide tax, legal, or accounting advice. Consult your own tax, legal, and accounting advisors before engaging in any transaction.