Top Ways To Fund Your College Education
The cost o educating your child in college is one of the most expensive endeavors. When you add up exam fees, tuition, accommodation, living expenses, and computers, you will realize the cost can add up to even $25,000 per year. Moreover, you can add the social life of your student and then estimate the cost.
We are living in an era when only the best educated are likely to succeed in life. For instance, the job market is quite crucial, and it is a very competitive element of the society. Getting a college degree plays a crucial role towards your success. In the next few years, it will be quite difficult to fund a college education. In fact, parents can pay for college debt free. The following are some of the top ways of funding your education.
Current income
This is one of the common ways of funding a college education. You should note that it is one, which is highly paid and can be afforded easily. Even when both parents have income, it becomes difficult to pay school fees and requires sacrifices. This is the case if you have several children in college. This calls for additional income sources.
Your child’s contribution
A lot of students work while they study. However, they can find the experience of involving lectures, social life and work very difficult. The result is that most students end up dropping out of college, do not perform well, or even fail exams.
Students loans
The majority of students are eligible to acquire students loans and grants to fund their education. The good thing about student loans is that they greatly subsidize parental contributions. Unfortunately, most students leave college with a huge debt, and the interest rates are quite high. Thus, you are expected to pay substantial contributions at the end of every month.
Scholarship
There are 
several sources of student grants and scholarships. You need to carry out some extensive research to find great funding. However, the sources cannot be guaranteed to cover the future. Since grants and scholarships are not to be repaid, they are less popular than loans since they are not guaranteed. Thus, you should not rely on them as it can be a risk.
Education savings plan
This is a routine saving plan that can be contributed by both student and parents. State authorities or colleges administer These and can be taken even for newborn babies. It is advisable to have an education savings plan as they offer a true opportunity to fund a college education.