Funding Education for Kids
Solutions for paying for your child's education
Every parent wants the best for their child - but with the rising costs of tuition for private institutions and post-secondary education, footing the bill for the best education can be difficult.
Whether your child is in preschool or high school, you can help support them as they prepare to move into new avenues of learning. Our information on funding education, from 529 accounts to college savings plans, can help you find the best option for your child's future.
And don't forget, you don't have to carry the whole financial burden! There are numerous areas of support your child may be eligible for, including financial aid, scholarships and education grants. You may be surprised by just how many options are available, covering a variety of criteria, from academics to athletics and even volunteer work.
The cost of education may seem overwhelming, but in reality, a little goes a long way. Tucking away small amounts as your child grows is the best way to ensure they can continue their learning in whatever manner they choose. Exploring every avenue and doing the research is the best way to make your money pay.
Sources of Education Funding
One of the most popular strategies for preparing for your child's educational expenses is to open an education savings account at a financial institution. These accounts typically yield higher-than-normal interest, and in exchange, you agree to restrictions on what you can and cannot do with the money in the account so it stays in the bank and grows. Many financial planners suggest that you start this type of account as soon as possible, and open one for each of your children. They are an effective way to shield your capital gains from taxes while preparing for the future.
You will also learn about the various types of education loans that are available exclusively to parents who want to send their children to private school. If you have a college-bound son or daughter, you'll be facing plenty of expenses, and it's important that you spend time researching the various types of public and private loans that post-secondary students can use.
Your child's education is a major investment, and you should treat it like one. Between scholarships, education grants, student loans and bank loans for students, there are a lot of options available. Make smart financial decisions that will give you flexibility both today and in the future by analyzing all of the many different education funding solutions out there.