Teaching your child about money can be a wonderful gift. Encourage them to chip in to their education fund, whether through a part-time job, summer work, or even by saving a bit of birthday or holiday money. It helps them feel involved and proud of their progress.
Seek Scholarships and Grants
Encourage your child to apply for scholarships and grants, which are essentially free money that does not need to be repaid. The US Department of Labor’s CareerOneStop Scholarship Finder is a good place to start.
Fill Out the FASA
Each year, help your child complete the Free Application for Federal Student Aid (FAFSA). It’s the key to unlocking federal and state aid, including grants, loans, and work-study programs that can make college more affordable.
Consider Cost-Saving Measures
Talk together about ways to make college more affordable, like choosing an in-state public school, starting at a community college, or living at home for a while. Programs like Advanced Placement (AP) or dual enrollment can help students earn college credits early, reducing future tuition costs. These options can make a big difference without sacrificing quality.