Cashing in for College?

As higher education costs continue to rise, it’s natural to feel stressed about your child’s educational future. Where will the money come from?

Well, there’s some good news: there are strategies to help you cover current expenses and plan for the future.

Here are three key strategies to consider:

Explore Private Scholarships: Scholarships based on merit offer a chance to offset (or even ultimately pay for) post-secondary costs. To get the most options for admission and scholarships, focus on getting the highest SAT and ACT scores possible. Consult high school advisors, local nonprofit organizations, and reputable scholarship platforms to explore opportunities.

Appeal for Additional Financial Aid: If you’re concerned about meeting financial obligations, it’s never too late to contact your financial aid office, even if the academic year has already started. If your financial situation has experienced a significant change, like job loss or disability, consider sending an appeal letter to the financial aid office.

Harness the Power of College Savings Accounts: Investing early in state-sponsored, tax-advantaged 529 savings accounts is a great way to boost your savings. These accounts allow your investments to grow tax-free if the funds go to qualified educational expenses. You can use these funds for a wide range of school expenses, including tuition, housing, textbooks, and more.

By implementing these strategies, you can prepare your child financially well in advance! If you have any questions or would like to discuss these strategies further, reach out at 330 836 7800 EXT. 1 or >>click here<< to schedule a time in my online calendar.