It's Never to Late

North Dakotans Saving for Education

It's Never Too Late     

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.

• Some Dos and Don'ts for late savers: Do check out the section on Other Funding Options Do take advantage of education tax breaks Don't divert retirement savings to education savings! Do apply for financial aid Don't give up!