How Parents Can Keep Their Child’s Student Loans Low
Many parents dream of their children getting a great education. For many parents, college is part of that dream, but college education gets more expensive each year. The good news is that parents can help their children afford college easily – by starting now. Here’s how to get there:
1) Start applying for scholarships early. Many parents wait until high school to start looking for scholarships, but many good contests to raise college funds are available for younger children, too. Research these scholarships and contests in your local library and start applying.
2) Help your children get great grades. The better your child’s grades are, the more likely he or she will get at least a partial scholarship to a school. This can help lessen the number of student loans your child will have to repay.
3) Start saving early. Consider putting part of your child’s allowance into an education trust fund or savings program. Find out if your employer will match contributions. Savings means your child will graduate with smaller student loans to repay and will have an easier time settling into adult life without huge unsecured loans or debts.