The cost of a college education has increased dramatically over the last few decades. Unfortunately, there is no slowing-down in sight. Over the next 18 years, it’s estimated that college tuition will increase by at least 6% a year. With the pace of tuition inflation, you would have to save $500 a month starting right now if you would like to pay for your child’s education in-full. For most of us, that’s an untenable budget item. So, what can you do if you want to help support you child’s education? You can encourage your child to apply for scholarships. As Fox News reports, children under the age of 13 (and as young as 5 years old) can earn money toward a college education. Some of the programs Fox examines in their “Four College Scholarships for Kids Under 13” are innovative (and downright fun.) Please take a moment to read their article here. For more information on college scholarships, visit fastweb.com.
Until next time, I’m Thomas Fox for Cambridge Credit Counseling.