I’ve saved the best for last. After all, what could be better than having your child’s college education be free?! Grants and scholarships differ than loans, in that they don’t have to be paid back. Some are awarded on financial need, some on academic merit, and others on associations with different organizations. Just because your child may not be eligible based on their financial need or their less-than-stellar high school academic career, it may still be possible for them to get some of this “free money”.
Loans for When You Need to Borrow Money for College
Last week I wrote about the different saving and investment vehicles available for parents who want to save for their child’s college. In a perfect world you would have saved enough money to pay for your child’s college education by the time she has graduated from high school. Unfortunately, we don’t live in a perfect world and you may be placed in the situation where you need to borrow money in order to pay for college.
Saving For Your Child's Education
Whether your child fits in the crook of your arm and keeps you up at night with feedings and diaper changes or your child wears size 13 shoes and keeps you up at night wondering if he’s making good choices while he’s out of your sight, you’re probably wondering whether you’re saving enough for his college education. There are many different ways to pay for college, which may seem a bit daunting at first, but I’m here to help you wade through your options.