Saving Up is Hard to Do: 7 Ways to Save for College

It's Time for You to Do the Math

Today is the first day of kindergarten, but before you know if, your precious one will be off to college. How do you plan to pay for it? Whether your child in an infant, in kindergarten, a preteen, or ready to graduate next spring, here are seven ways that you can help ease this financial burden.

1. Apply for scholarships. Unfortunately, scholarships cannot be planned out from birth. There are no guarantees and usually limited funds. However, if you child excels at anything from sports to scholastics to a unique hobby or career field, there are a number of scholarships your high-school student can apply for before graduation. Most of these have early deadlines, so it is best to get started as soon as possible.

2. Try to get loans. Loans can come in many forms. You can get as many educational loans as possible to help pay for a semester (or eight) of school. Educational loans are based on income levels and are lower interest than your average bank loan. However, if you do not qualify for enough loans through your school's financial aid department, you can also try the bank. Banks often make loans or allow you to take out a second mortgage for education purposes.

3. See if you qualify for grants. Sometimes, it takes all you have just to get by. But, that should not keep you from getting a higher education. One way to lighten your financial load is to see if you qualify for grants. Grants are government aids that a student is not required to pay back. One well-known grant is the Pell Grant, which aids students across the nation in achieving their educational goals.