Did you know that the cost of 4-year degree program is about $ 20,000/year? The total of cost for tuition fees, exam fees, living expenses, accommodation, books and computers is about $ 20,000 per year. This does not include the social side of life environment.
Today we live in a world where everyone is getting the best education will succeed. The labor market is the most important element and competitive society.
Here are 5 ways to fund your child’s college education.
1. Usual method to fund comes from the monthly salary of parents.
This method is the most common method to fund college education. It’s easy for rich or very rich parents.
2. Your child works with own way during study in university
Many students must work during their study. Often, the student may drop out from their education, fail their exams or didn’t do as good as they could.
3. Your child may have the opportunity to take student loans to finance their education.
Today most of the students had to take student loans to finance all or part of their study. Usually it helps parents funding. Student loans are the most common way for students in funding their own college education.
4. Your child can get a scholarship or grant either from federal or local funds towards the cost of their college education.
There are many sources of student scholarship or grant. Some funding comes from research fellowship.
5. Take an education savings plan to fund future college education.
Education savings plan is a regular savings program where you and your child can contribute. This plan is administered by universities or state authority and can be carried out for each child, including newborn babies.
There are several options to fund your child’s enter college education. The best idea to fund is a savings plan. With education savings plan you decide what you can invest and your child can also contribute with his college education.