When it comes to student loans, my husband and I have opposite stories. While my tuition was partly paid for by my parents and scholarship money, the rest came from $24,000 in student loans. My husband, on the other hand, sailed through school without taking on a single penny of debt.
That’s because his family had been saving in a college fund for most of his life. While I was struggling to make student loan payments and living on a shoestring budget after graduation, he was focusing on his passions and living comfortably on a more modest income than mine.
September is College Savings Month, so here are some of the best ways to save for your child’s college expenses – and how to get them involved in the process.
Types of College Saving Accounts
Start a 529