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Planning University Education Finances
by Avie Estudianti
http://www.fmuniversity.com
Getting a degree from a good university is a challenging
task because of both competition to gain admission and
constantly rising costs. Presently, costs for university
tuition, room, board, books, fees, and other expenses
start at over $10,000 annually. Most of you won't ever
ten grand on hand unless you plan for it. Here are some
simple tips for such a plan.
1. Begin saving for university at birth. Any amount is
helpful, but aim for about $2,000 annually. That amount
over eighteen years along with compounded interest should
your child a substantial advantage when it is time for her
freshman year.
2. Involve all of the significant someones in your child's
life to participate in funding her university education by
suggesting that they make gifts of savings bonds,
certificates of deposit, or deposits into the university
accounts you've already established instead of giving
toys and clothing that are soon outgrown or worn out.
3. If your children have been working before going to
school, urge them to earmark at least ten percent of
earnings for unversityeducation. Students who help finance
their unversity studies tend to value them more.
4. Financial aid is available for students who meet
eligibility criteria and is offered by most universities.
Fill out the FAFSA form online prior to matriculation to
determine your eligibility. Your child's university will
then send you a list of the scholarships, grants, loans,
and other assistance your child is eligible for.
5. Ask local civic groups, community organizations, and
social agencies about financial aid for universities.
Some banks or credit unions offer grants to students who
maintain accounts at those institutions. Other groups
provide scholarships to students for meritorious
recognition. Find out what the requirements are and then
apply for all that you can. In some cases, you may get
enough of an award to cover books or supplies, but
anything will help.
Hopefully, you now see that planning university
education finances doesn't have to be difficult.
Consistent movement toward that goal over a long
period of time should pay off in you being able
to accumulate the funds for university studies relatively
painlessly.
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