Saving for college takes thoughtful planning and teamwork to cover everything from everyday expenses to choosing the right school.

Educational Savings Accounts
An Educational Savings Account allows you to grow your college savings tax-free when used for eligible education expenses. It’s a smart way to invest in your child’s future while maximizing every dollar you contribute.
Student Loans
When savings and scholarships aren’t enough, student loans can help cover the rest. Explore competitive, flexible loan options with our trusted partner, Sallie Mae®.
Scholarships
As part of our commitment to education, American Heritage Credit Union offers annual scholarships to qualified student members. It’s one more way we invest in the future of our community and help families manage the cost of college.
Involve your student.
Encourage your child to contribute to their own education savings by saving part of summer job earnings or gift money. This builds healthy financial habits and gives them a sense of ownership over their education.
Consider the following as you facilitate your savings plan:
- Meal plans, snacks, and groceries
- Books and online resource access codes
- Dues for honor societies and clubs
- School sponsored off-campus activities
- Dorm or apartment furnishings
- Travel expenses to and from campus
- Everyday clothes, shoes, and professional attire
- Stationary supplies
- Unexpected computer repairs
Choosing the right major and school.
Selecting a field of study and a college that aligns with your student’s goals can make a big difference both academically and financially. Encourage your student to explore their interests, research career paths, and consider how certain majors may affect future income and job opportunities.
It’s also important to compare schools based on tuition, financial aid packages, graduation rates, and job placement support. Choosing a school that offers the right balance of quality education, affordability, and fit can lead to a more rewarding—and financially manageable—college experience.
Explore 529 College Savings Plans.
In addition to Educational Savings Accounts, 529 Plans offer tax advantages and flexibility for qualified education expenses. These plans can be used at most accredited colleges and even some international institutions, making them a versatile tool for long-term savings.
Take advantage of scholarships.
Scholarships are one of the most effective ways to reduce the cost of college—and they don’t have to be repaid. Encourage your student to start applying early and often, as many scholarships are available for a variety of talents, interests, and academic achievements.
From local organizations and community foundations to national programs and school-based awards, opportunities are everywhere. Create a calendar to track deadlines and help your student stay organized, so they can maximize the free funding available to them.
Make saving a habit.
Setting money aside regularly for an extended period of time is one of the best ways to reach a savings goal. You can do so in small increments or choose to designate a larger lump sum annually, like on your child’s birthday.
Save automatically.
Take the guesswork out of saving and do so automatically by customizing direct deposit preferences to send a portion of your paycheck to a designated account.
If you still need to bridge the gap between college savings, scholarships and grants, consider the private student loan options offered through our partner, SallieMae®.
Review and adjust annually.
As college costs and personal finances evolve, it’s important to review your savings strategy each year. Adjust your contributions as needed to stay on track and take advantage of any new financial tools or tax incentives.