Saving for College

Financially prepare for a continued education.

It’s no surprise that college is expensive. Tuition payments aside, you’ll need to budget for a variety of other costs that will greet you ahead of graduation day.

 

  • Meal plans
  • 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
  • Cap and gown
  • Unexpected computer repairs

Consider the following as you facilitate your savings plan:

Open an Educational Savings Account.

Make tax-free contributions to an account dedicated to education-related expenses. This will help you make the most of every dollar you want to contribute to your child's financial future.

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®