College is Expensive So Save!

What happened to the good ole’ days  when parents actually set aside money for their child so that one day s/he could achieve his/her goals of going to college?  Well, it seems that those days are long gone and it may not return.  Too many young men and women are awaiting their dreaded fate that includes a mountain of debt to pay off their short-of-an-ivy-league education.  School tuition can range from less than $10,000 to over $50,000 a year and most kids turn to loans to help them get this education.  However, loans have a downside.  While they’ll get you through school, they also accumulate interest and will be waiting for you upon graduation.

Is it really that hard to set aside a few dollars with each paycheck so you don’t have to scramble for money when it comes time for you little one to embark on a new journey into a post secondary school?  Maybe you could start out when they’re young.  Instead of buying them that extra video game or sugary snacks after school let them know that you’re saving so they can go to college and not be a bum!  (THIS IS NOT SAYING THAT PEOPLE WHO DON’T GO TO COLLEGE BECOME BUMS… JUST THE ONES THAT SHOULD GO TO COLLEGE AND DON’T ).  Even a few dollars each paycheck or month would help.  I paid well over $1000 just for books this year and if my parents had set aside $5 each month since I was born those costs would’ve been covered.

Now students (or perspective students), this isn’t to say that you shouldn’t help out either.  Summer jobs are a great way to contribute to the rising costs of your education.  Do you get an allowance (you’re lucky if you do)?  Set aside a few dollars each month or week!  I guarantee you it will pay off in the long run.  You don’t want to end up drowning in a pool of debt at the age of 23.