As parents, we always want the best for our children. But in the busy eighteen years from birth through high school graduation, sometimes preparation for a child’s future higher education gets put on the back burner. Start saving for college to make the college and career years easier for you and your child. Here are some tips to help you on the way.
From baby’s first gurgle or giggle, parents begin to dream of their child’s future and try to figure out how to handle the associated costs of parenthood. Some parents immediately dive into saving for their child’s education.
The US News and World Report recently featured a Durham, NC grandfather who is helping his family save for college. Instead of giving physical gifts during the holiday season, he is contributing money to his grandson’s college savings plan each year. And, he’s not alone. According to the article, 84% of parents would prefer that their children receive money for college in place of physical gifts during the holidays.
During the holidays and on special occasions, it’s fun to spoil the children in our lives. Twenty-five dollars can buy a variety of gifts – balls, gift cards and games. As WFMY notes, it can also give the gift of education.
That’s because you can contribute to an NC 529 Account with as little as $25. Money saved in an NC 529 Account can be withdrawn to pay for qualified higher education expenses.
Holiday giving can be tricky. Each year children receive a pile of wrapped items that they plow through quickly and inevitably forget after a brief period of time. Fortunately, the Salisbury Post recently suggested an alternative to traditional gifts, like electronics, toys and clothes. This year, consider giving the gift of education. Contributions to an NC 529 Account can help put college in a young person’s future – and that’s a gift that will last a lifetime.
