We have two kids in college right now and it is expensive!Â The cost of college has skyrocketed over the past ten years, and if you haven’t priced college lately you are in for some sticker shock.Â It used to be that a child could finance college by working part time and getting a small loan, but now that is difficult, especially for a child who can’t live at home and commute to college.
Kids who graduate from college with big loans are at a huge disadvantage for years.Â Current estimates are that the average debt for graduating seniors in 2012 was over $29000!Â That kind of debt means that kids can’t afford things like a car or apartment after they graduate, because their student loan payments are so large.Â So one of the best things you can do for your children and your own financial peace of mind is to start saving for college early – as early as possible.
We started putting money away for college expenses when I was pregnant with my first child. Even with that early start we didn’t save nearly enough, because of how much college costs have skyrocketed. But we are doing our best to minimize loans for my kids, so that they aren’t paying them back for years to come.Â So my big advice this holiday season is to think beyond the hustle and bustle of the holiday season and remember what your long term financial goals are.Â Don’t trade short term “stuff” for long term financial security for yourself and your kids.
Capital One wants to help you achieve financial peace of mind, and right now they are having a Black Friday Sale on their financial products. Visit them to take advantage of Capital One 360’s deals on banking, brokerage and mortgage products.Â They offer easy ways to save for college, like remote deposit capture with Capital One 360’s CheckMate tool and Automaic Savings Plans which make savings a snap.Â Here are all the deals they are offering for this Black Friday Sale!
These deals can help you get a jump start on college savings, and the sooner you start saving the happier you will be when those tuition bills come due.
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.