Single Parents Tips to Saving for College

How do single parents worry about the high price of gasoline, food on the table, clothes, rent or mortgage payments and then attempt to save for college?

Its clear that saving for college is not an easy task and many single parents could argue that saving for college is just not in their budget or isn't realistic for them. But there some tips that can help the single parent defer college costs for young children. When you think about it when single parents save for college he or she is making an investment that will someday pay off. According to the College Saving Plans Network (collegesavings.org) “…the average cost of a four-year education at a public university is currently $42,544, and $107,416 for private colleges. Over the past decade, expenses at public institutions have increased nearly 40%, and costs will almost certainly continue to rise.” The College Savings Plans Network is a website dedicated to help parents discover college savings plans in every state.  Some tips for single parents to save for college are:

Start Saving Early
According to the College Saving Plans Network starting to save for college early is crucial. This is especially so for single parents who have a limited income. Your child may just be three years old, but like veteran parents know time is not on our side. Children grow up very quickly and $10.00 or $20.00 a week invested can turn into a lucrative investment.

Recruit Others to Save
Grandparents, aunts, uncles, and godparents are good people to look to once a single parent decides to start saving for college. Upromise (upromise.com)a popular college savings plan provides a way for mulitple people to save for one, two, or even three children. Upromise has partnered with large companies to provide a way to save for college after purchasing certain products. After using the free registration family members can register credit cards and start saving. Single parents can utilize Upromise and ask everyone who is related to the child or closely related to register with Upromise. Every dollar helps.