I’m thrilled to have Upromise as the sponsor of this post! Saving for college is critical to every child’s future! All opinions expressed below are my own, based on my personal experience with Upromise.#Upromiseit
I was blessed with a great college education (which led me to meet my husband on a study abroad program!). I want to provide that same opportunity to my own kids. But with 4 boys, our college bills are going to be pretty hefty.
Here are 10 ways we’re planning to save on our boys’ college costs
1. Plan for your child to attend a public university.
You’ll save boatloads of money and the resulting degree will be just as valuable as one from a more prestigious (and more expensive) school.
2. Have your child take AP classes or dual enrollment.
She’ll earn college credit during high school saving time and money!
3. Make sure your child knows he’s responsible for part of his college tuition.
Kids who embrace personal responsibility early on are more likely to work hard and appreciate what they have.
4. Start as early as possible.
If I save $25 a month for my 4 year old, he’ll have over $6000 when he turns 18! That alone won’t pay for college, but it’s a good start, given just $25 a month.
5. Use an account with Upromise to automate your savings towards the college fund.
Everyone should have a Upromise account! You can earn cash towards college just by shopping at your favorite online merchants. And right now, when you invite friends and family to join Upromise you can both earn $20!
6. Have your child attend a local community college for the first two years and then transfer to a larger school.
You’ll save so much on room and board and tuition will be much cheaper as well. Just make sure upfront that any credits he or she takes will transfer to the larger school.
7. Buy textbooks used on Amazon and then sell them back at the end of the semester.
They even have rental options for some books! This sure beats using the over-priced college bookstore!
8. Teach good money sense.
The difference between a child who spends a fortune in college and one who is more careful with his money starts with good money habits early on. Teach your child to manage his own money (here’s how we do this) and make him responsible for some of his own expenses starting when he’s several years away from college. Kids need to gain experience in this area just like they do with these other key life skills.
9. Work with your high school’s guidance office to find out about all the scholarships available to your student.
Let’s say you spend 20 hours working with your child on scholarship applications and he wins a $10,000 scholarship. That’s an hourly rate of $500!
Lots of people don’t want to put the time into scholarship applications, but that extra effort can pay off tremendously.
10. Ask relatives to contribute toward the college fund as part of birthday and Christmas presents.
Our relatives have been doing this for years and it makes a huge difference.
Plus, as I said in #5, bembers who invite family and friends to join Upromise to help save with them earn 3x MORE in average monthly cash back for college than those who don’t!
Pick your top strategies
You probably won’t be able to take advantage of all of these strategies but even if you use 3 or 4 of them, you’ll enjoy tremendous savings! And everyone should be using Upromise for easy savings.
Upromise is free to join and so easy to use.
You’ll get cash in your college savings account when you shop at 850+ online merchants. And right now, when you invite friends and family to join Upromise you can both earn $20!
Shop at Amazon – start at Upromise.
Need to shop for Mother’s Day? Start at Upromise.
Book your travel through Upromise and that cashback will add up awfully fast!
Upromise members can earn higher cash-back rewards and grow their college savings more quickly with the Upromise MasterCard. Upromise MasterCard holders earned almost $42 million in cashback rewards last year. Go here to get started.
Are you saving up for college? Are you familiar with Upromise?