Going to college is a dream for many young adults as it offers an experience unlike any other. The real issue lies in paying for that dream somehow as it doesn’t come cheap. In most instances, saving for college should start during teenage years as it allows enough breathing room to continue education as an adult. Below are some great bits of tried and true advice that may impact your entire future!
Start Applying For Scholarships
Utilize your talents to apply for a large number of scholarships. Whether you’re a high achiever, a minority or an athlete, scholarships can help you achieve your goal of going to college. Bear in mind that scholarships alone won’t pay for your education, but they can take a load off when it comes to paying the costs of your tuition. The Internet is at your disposal, and more than ever before, you have a large number of scholarships you can qualify for.
Start A 529 Savings Account
There’s no set year when you should start saving money for college, but many families opt to start at the age of 15 or 16. It is estimated that college costs around $130,000 when all’s said and done, so you would need to set aside over $500 per month to afford at least half of your education. Of course, getting a side job can help pave your way and ensure that your payments make it into your college fund on time.
Get A Job ASAP
It’s not fair to only depend on family members to pay for your college, which is why you should start looking for a part-time job as soon as you’re able. You can choose to work at a restaurant, on the beach or a grocery store to help you funnel your paycheck into a savings account. You won’t just start building your resume at an early age, but achieve your dreams of going to college.
Start Selling Online
Have some stuff you can sell for profit? With the help of your parents, you can set up an eBay or Amazon account to sell your old stuff you no longer need. In fact, many teens get into the business of flipping yard sale and thrift store finds to pave their way. It’s never too early or too late to really invest in your future.
Start Going To Community College
By nature, community colleges are significantly cheaper than privately funded institutions. That means, you can get a head start on your education by attending certain courses and getting credits at your community college. You will spend less on certain credits and you will have the option to transfer them to a different college.
It’s worth investing some time and effort into discovering what the future holds for your education. You may have set your sights on a prestigious college, but if you don’t have the funds, earning them and setting money aside saving for college as a teenager is a good place to start. Not only do you learn frugality at a young age, but you won’t get further into debt.