Too many young people can’t afford college, and many more leave college under a mountain of debt. Here are 5 ways to plan for a debt-free education.
First, invest early in college savings plans like 529s or state prepaid tuition plans – parents and grandparents can participate. Second, avoid loans if possible – they’re easy to obtain but difficult to get out from under after graduation. Third, start your scholarship search early – you’ll have time to learn the requirements and boost your chances through academics or other activities.
Fourth, dual enroll or take advanced placement courses in high school – you’ll get college credits for free or very low cost. Fifth, stay local – attend a state community college and then transfer. The tuition is lower than most private schools, and you’ll save money if you can live at home for a few years. Also, while relocating may not be an option, keep in mind that some cities and states, like San Francisco and New York, offer free college tuition – although restrictions apply.
Everyone should have a chance to attend college – to find out more on how to fund a college education, give us a call or visit our website today.
Retirement Account, Financial Advisors