2006-12-24 16:49:18 · 8 answers · asked by gjbrown73 1 in Education & Reference ➔ Financial Aid
I set up a financial plan with UBS (Paine Webber) where they take money from my paycheck in pre-taxed dollars. That way, you get an added benefit. Also, as it stands now, you can still claim college tuition costs on income taxes even though you financed it using your non-taxed wages.
GOOD LUCK AND GOOD FOR BOTH OF YOU!!!!
2006-12-24 17:24:38 · answer #1 · answered by Susan B 2 · 0⤊ 0⤋
I would suggest by helping him make a wise choice on the school to attend.
1) Stay home and attend the local community college/University. Take room and board out of the picture, and a higher education is quite affordable. With a part-time job, and student financial aid, he should be fine on his own.
2) If for whatever reason he wishes to attend a school farther away, keep it in-state. Out of state tuition is a monster. Tuition can be up to 3X the regular amount. The price difference over 5 years can range 25-50k. There isn't a good rationale for that additional cost.
2006-12-25 01:12:36 · answer #2 · answered by Cysteine 6 · 0⤊ 0⤋
First have him go to his school counselor starting his junior year and start getting info on scholarships available in his or her office in addition go to your local libraries as well to search scholarships given in the area. Also discover what major he is interested in and then focus on what a university is offering for in coming freshmen. Along with filling out the FASFA and getting a great a SAT score he should also be completely aware of the programs that the state which your are a resident of and what i offers to graduating seniors for residency is important especially when attending a school out of state (but can easily be changed by attending a school for a year, or many other school requirements). Also check out the Horatio Alger Association
2006-12-25 02:06:09 · answer #3 · answered by The A. W. 2 · 0⤊ 0⤋
save as much as you can now.
consider reducing your living expenses during his college
(crappier car, cheaper house etc.)
consider going into debt
encourage him to perform so he can get some scholarships
community college living at home will be cheaper.
since you are already paying all the bills that won't impact you much. joining the military is good because they will help you save for college. see that he takes all the AP classes he can in high school since you'll avoid paying for him to get those classes in college. it's cheaper to live some places (like oklahoma) to go to school. consider encouraging him to go to a less expensive college. consider working a second or part time job to increase your income. also consider having you son work. on-campus jobs are the best because they're closer to the academic world.
oh, and make absolutely sure he usses the FAFSA to apply for financial aid. save save save now. i reduced my contribution to retirement 401k during when my kids were in college.
2006-12-25 01:00:53 · answer #4 · answered by Sufi 7 · 0⤊ 0⤋
When he is a senior, have him fill out a FAFSA form. It is necessary for student loans or federal grants. Make sure he takes SAT's. Have him attend college fairs and get his information out. Good luck! :)
2006-12-25 00:52:20 · answer #5 · answered by westsida 4 · 0⤊ 0⤋
Eat dog food, walk everywhere, take a large ins. policy out on the spouse.
2006-12-25 00:58:33 · answer #6 · answered by Anonymous · 0⤊ 0⤋
have him join a sport so he can get some kinda scholarship! apply for scholarships @ fastweb.com
2006-12-25 00:57:44 · answer #7 · answered by *~♥mommy 2 a beautiful boy♥~* 3 · 0⤊ 0⤋
financial aid
2006-12-25 00:51:07 · answer #8 · answered by Orange? 4 · 0⤊ 0⤋