
Student loans, grants, and scholarships are just a few ways you can help cover the cost of a college education. And while all these ways of helping can have a big impact on paying for your child’s college, the importance of having a college savings cannot be understated. Money that you set aside for your child’s future education can go beyond tuition—towards things like books, housing, food, and other expenses your child may have at school.
Building a college savings fund is a significant, long-term, and worthwhile commitment. Even if you can only save a small amount per month, this can add up over time and help you offset the cost of college. Here are a few things you should know about starting a college savings fund.