If you’re a parent who is uncertain about your child’s college future, or you’re just not sure how you will save for your child’s college education, we want to help. If you need some reassurance, be aware that if you have started to save for post-high school education, you’re on the right track. There are many great reasons for going to college, whether it’s a community college or a fully accredited university with postgraduate programs.
Why Go To College
- Every bit of education obtained after high school increases the chances your child will earn good pay. Most college graduates earn more money during their working years than people who stop their education at high school earn.
- The more education you get, the more likely it is you will always have a job. According to one estimate, by the year 2028 there will be 19 million more jobs for educated workers than there will be qualified people to fill them.
- Continuing education after high school is much more important for the next generation than it was for your parents’ generation. Today, most good jobs require more than a high school diploma. Businesses want to hire people who know how to think and solve problems, and a college degree is the proof that employers seek.
- Education beyond high school gives your child a lot of other benefits, including meeting new people, taking part in new opportunities to explore their interests, and experiencing success.
How To Start Saving For College And Your Child’s Future
Whether or not your child uses the college funds you’re saving, as a parent, you will always have access to these funds.
If your child achieves educational success by having their college education fully covered by various scholarships, grants, and other rewards, the college funds you’ve saved up will not go to waste. For being an extraordinary parent or guardian, you will also have access to these funds (TAX FREE) if your child does not use them.
College funds savings can help your child in many ways. Community college is not free; if your child decides to study there or complete a certificate program that will help them get the job they want, these savings will help. What’s more, your child may decide to pursue a college degree that requires many years to complete, such as in medicine or in any post-graduate program. Even if tuition and fees are covered by scholarships, you can be sure there will be other education-related expenses that your saved college funds can cover.
Get The Expert Help You Need
Various strategies to maximize the benefits of these plans are available, depending on your child’s age and other factors. At Comfort Insurance & Finances, we can go over these strategies with you to help you save the most for your child’s college funds while minimizing your tax burden. To discuss college savings plans and other details about saving for college, please call to inquire about additional information.