10 Tips to Save Money For College

Attending college is a big investment. Even community college can cost you a few thousand dollars a year on the cheap side. So, how do you manage to save enough money for you or your child to attend college when most of your money goes to basic necessities? Here are 10 tips to help you save money for college.1. Start saving now. The sooner you save for college, the longer your money has earn interest.
2. Set up an education IRA. These special IRAs are tax-deferred, and you can put up to $2000 per year per student in them. As long as the money withdrawn is used for education it’s tax-free.
3. Look into a 529 plan. They’re a savings plan that allows you save money for college that can be used tax-free as long as it spent on education, and they have a higher limit than an education IRA.
4. Invest what you save. Low risk investments will still earn more money than keeping it tucked away under your mattress.
5. Don’t try to save the entire four years tuition. By the time you or your child attends college other funding options may be available like grants. Don’t assume you have to save it all before anyone can attend.
6. Check into prepaid tuition. Some colleges offer prepaid tuition set current year’s rate for use in the future. If you know you or your child will be attending in the future you may wish to look into this option. You could save thousands of dollars, even if it does pigeonhole you into one school.
7. Make a budget. Doesn’t sound like a college savings tip does it? However, if you make a budget and stick to it, you might find a little extra at the end of the month that you could stick into a savings account for college.
8. Cut back on luxuries. The less you spend on things that you don’t need, the more you can put into a college savings account or IRA.
9. Look into scholarships. There are many websites out there dedicated to helping students find scholarships. Many of these offer this information free of charge, sso spend a few hours and see what your or your student are eligible for.
10. Check into grants. You or your student might qualify for grants. If sound of money that doesn’t need to be repaid and might be the difference between being able to attend college and having to wait a couple extra years.

Finding Free Money For College – Using Upromise to Avoid Taking Out Student Loans

Free Cash for College – using the Upromise College Savings Program to save thousands in free money for college.Parents are reporting that they have saved thousands of dollars in their kid’s 529 college savings programs, all with free money GIVEN to them. Programs such as Upromise team up with hundreds of well known retailers, to give cash back rebates on everyday purchases like gas, groceries, dining out, and travel. One parent reports that she has already saved over $2000 for her son’s college education, all of which was deposited into her 529 college savings account as rebates earned through retailer purchases or cash back rebates earned through her Upromise credit card (which gives you 1% cash back on ALL purchases, and more on participating retailer purchases).”Upromise is a program that every parent needs to sign up for. It’s free to sign up, and easy to earn rebates, which equate to CASH in your college savings account. You can even use the money to pay down your own student loans, or simply request a check and get the cash to use however you wish. If every parent signed up for this program when their children were born, they could probably fund most of their college education without ever actually saving any of their own money. I know I’ve gotten more than $2000 in my son’s college 529 plan from Upromise (free money from them) in a little over 5 years. Imagine if I would have started when he was born.”The money Upromise gives it’s members comes from retail partners including:
More than 700 Online retailers such as Best Buy, Ebay, Old Navy, Sears, Expedia, Apple Store
Almost 8,500 restaurants
More than 21,000 grocery and drug stores like Kroger, Safeway, Frys, and more
Other companies like car rental, gas stations, and real estate agenciesHere’s how it works. You simply shop or use the services of one of the above named partners. Upromise then gives you a rebate on your purchase, for example a 2% rebate from Best Buy. Then every quarter, when your Upromise account has at least $50 in it, the savings gets automatically sent to your linked 529 College Savings Account or Sallie Mae Student Loan Account. Or you can simply request to have the money sent to you by check.Upromise states on their website that they have currently given more than $500,000,000 to its members in college savings money, making it a major source of private funding for college education.Additionally, Upromise offers a way to allow friends and family, like grandparents, link to your account so their online shopping can earn rebates for your college savings program. They also offer their own credit card that gives you 1% on all your purchases, and more on purchases made at participating retailers.