How to save money for college?

Answer 1

Education certainly does not pay for itself (with the exception of receiving grants), but there are some easy things you can do to save money for college whether you plan on starting or you need cash to pay your loans off.

One easy way to save money for college is to put back a certain amount of money out of each of your paychecks for your college fund. For example, you might want to consider putting back $50-$100 out of each check into a savings account to fund college in the future. If you can't afford that, you can put back less, but every penny counts. You can even put your money into an account that accrues interest!

Answer 2

How to Save Money for College

If you plan to attend college in the future, you should begin saving money now, so you can pay for your college education. Attending college can be expensive, but it is well worth the time and money you invest in obtaining a degree. By saving an appropriate amount of money in advance, you will be financially prepared to fund your college education. Read on to learn how you can save money for college.

Make a List of Your Anticipated College Expenses

Your college expenses will include items such as tuition, room and board, books and other supplies, and transportation expenses. The total amount of your college expenses will vary depending on the type of institution you attend (public, private, two-year college, or four-year university); your major and career goals; and whether or not you live on-campus or off-campus. You should take time to contact the schools where you plan to apply for admissions and research the cost of attendance for each institution. You may be able to find this information on the school's official website.

Open a Savings Account

Once you have determined the amount of money you need to save for college, visit a local bank or credit union to open a savings account. You should only use this account to save money to pay for your college-related expenses. Be sure to make regular deposits into your account each month. For example, if you get paid twice a month from your job, you should deposit money into your savings account twice a month (based on your employer's pay period). Don't forget to keep a record of all of your deposits and store your receipts in a safe place.

Find Ways to Earn Extra Money

There are a variety of ways to earn extra money to help pay for your college education. Even if you are already employed or still in high school, you can definitely earn some extra money for your college savings. For instance, you can tutor students, babysit children, run errands for family, friends and neighbors, mow lawns, have a garage/yard sale, make and sale crafts, start a paper route, or sale items on eBay. In addition, you should also consider applying for financial aid and scholarships to help fund your college education. You can learn more about the different types of financial aid by visiting www.fafsa.ed.gov.

Answer 3

There are college saving accounts that you can use to help you save for school. These accounts help you plan a monthly amount to save and automatically transfer money from accounts.