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.
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®