Fast forward (I know this is painful) and imagine your child with a high school diploma. What will the next few years hold for him or her? College or a career training program?
September is College Savings Month to help remind parents that "back to school" also means "soon to college." As quickly as your child traded pacifiers for pencils, he or she will be applying to colleges and planning for the future. Saving now will help you prepare financially to make those plans a reality.
Virginia529 College Savings Plan (Virginia529( suggests three things you can do to ensure college doesn't catch you off guard:
- Start saving now. Every dollar saved is a dollar you don't have to borrow. It doesn't take much; you can open a Virginia529 college savings account with as little as $25.
- Learn how much college could cost with this College Savings Planner calculator. If you're already saving, you can even compare your expected contributions to the predicted cost.
- Encourage family and friends to give your child the gift of education by making a contribution to his or her college savings account. It's always the perfect size, shape and color!
Are you smarter about saving for college than the average parent?
Test your knowledge about saving for college and see if you are smarter than the average parent. You could win a college savings account valued at $529 from Virginia529. To enter, complete this quiz by September 30, 2014.
Virginia529 offers four flexible, affordable, tax-advantaged programs to help families tame the Tuition Monster. For more information on Virginia529’s college savings options, visit Virginia529.com. Follow Virginia529 on Facebook and Twitter for college savings tips, program news and contests.
