Effective Ways to Fund Your Kid's College Education

On the average, today's four-year college education is around $20

,000 each year and rising. Now that's something most people can't afford.

Parents worked hard to support their kid's basic needs from food, shelter, clothing and education. College education is perhaps the most expensive and resource draining of them all. It actually doesn't end there, because aside from the tuition itself, you'll have to pay for the exam fees, living expenses, accommodation, books, computers and whatnot. No wonder $20,000 is becoming a communal college dilemma.

As they say, unless you're smart enough you don't to be educated. But how can you outsmart the others if you don't have the armor to do that? Education prepares the students before facing the fierce competition out there. The job market is so competitive that it's impossible to nothing to get a well-suited job by being uneducated.

As a parent, you know this and you don't want your child to end into these uncertainties. College education is necessary and it's a-must that you know some basic ways to start our kid's college funding.

The Monthly Salary Income

This is only applicable to highly paid or rich families whose income is enough to send their kids to college but for the majority, this isn't a viable option. If you belong to the latter group, it doesn't matter whether you or your better half is working together; you still need to do sacrifices along the way. You still need to find alternative sources.

Teach Your Kid to Work His Way to College

Kids who are juggling between school and work may find this setup rather difficult. Often, they drop out from school and concentrate on their job in hope to save money and finance their studies in the future. Discuss this idea to your kid.

College Education Loans

Majority of the students can avail of student loans to finance their college education on top of your financial support. The only hitch is that, often, the student will carry a substantial debt as soon as he gets out of college and has to be paid for many years.

Local or Federal Grants

Unlike loans, federal or local grants are free, which means no repayments needed. The only drawback is that you can't lay all your eggs there without exposing your kid's future in case you landed on unreliable grants. Do some serious research to find the best one.

There many ways to fund your kid's college education but right now, the only guaranteed option is to use the college education plan. With this plan, you'll be able to decide how the funds are to be invested and cashed it out if he decides not to go to college at all. Give your child the opportunity for better education and future through college funds.

Effective Ways to Fund Your Kid's College Education

By: Camoren Dicosta

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