What if we
didn't start saving for education when our children were young?
What if they are now in middle school or high school? Is it too
late? No, it's never too late. There are still a few things we
can do to help with those education expenses.
Any amount
saved between now and when education expenses come due will help,
so start saving whatever you can. Look at your family spending
plan and see where you can cut back and divert funds to
education savings. There may not be time to invest that savings
aggressively but check around to find the best return for
short-term savings.
Also,
remember all education expenses do not need to be paid
on the first day of class in the first year! Tuition, fees and
books are usually paid per semester or term and some schools
will allow a monthly payment schedule.
Encourage
your child to save what they can for their education and have
them check with their school counselor for a list of scholarship
opportunities. If there isn't enough saved for
education your child may look at choosing a less expensive
school or choose a school close to home and live at home while
they attend classes.
