Tips to Save for College

According to a June, 2011 CNN Money report, college costs have risen approximately 130% over the last twenty years. This has slowly priced out the middle class as yearly incomes cannot compete with such a surge. Although it may seem bleak, if you start early and setup a strong savings plan, applying tips to save for college can work. This will hopefully enable you or your kid to enjoy keg parties, early morning bong hits and some fresh, untouched ass…oh, and of course, obtain a degree.

Go Five Two Nine

Named after Section 529 of the Internal Revenue Code, a 529 Plan is a savings strategy designed by state and educational institutions to assist families in setting aside future college costs. In most cases, a 529 Plan is applicable to any college either in or out of the state you set your plan up in. Keep in mind that each state offers its own strategy, so shop accordingly keeping an eye on the best age-based plan for you. Sometimes a pre-paid option is available to lock you into a long term low risk option. In addition, as long as specific requirements are adhered to, special federal tax benefits are possible as well.

Go to Main Street

Working with a professional financial planner or using your own instincts and know-how to invest in a variety of portfolio options can possibly catapult your assets. Some investment considerations may be:

• Money Market Funds

• Short Term Portfolio

• Bond Index Fund (offered through your 529)

• Long Term Certificates (CD’s also offered through your 529)

Steal Your Own Lunch Money

It may sound petty but scrimping on takeout food and coffee can lead to investing in a college education. Take a look at what you really do not need for a while and use what you would have otherwise spent on putting it in your 529 or another mild to aggressive portfolio.


Although you or your kid may want to start college with every available new item on the supply list, there are some ways to forgo some unnecessary costs.

• Find the required text syllabus for each class prior to starting college to enable you to scour the Internet and bookstores for the same used books at half the price.

• Choose a practical meal plan that will not break the bank.

• Use public transportation on campus and in the surrounding city if possible

Re-Finance, Ask for Cash & Sell Shit

If you have good credit and a mortgage then you may want to re-finance or take a low interest loan against your home. On birthdays and holidays ask for money deposited right into your savings program. Find everything and anything you can sell, post it online or have a garage sale and put it toward tuition, books or anything else applicable.

These tips to save for college are only a few of the many resources you can apply. Be smart, diligent, steadfast and focused to attain your college bound goal.


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