- Start saving for college early. Even if you can only save a small amount per month, it's better to start small than not at all.
- When a monthly expense such as daycare or a car loan comes to an end, immediately redirect that money toward college savings — before you have a chance to get used to the extra spending money.
- On gift-giving occasions such as birthdays and religious holidays, ask family and friends to contribute to your child's college savings plan instead of buying toys.
- Review your college savings account annually and consider increasing your contributions, especially after you receive a raise.
- When your child reaches middle school, increase the amount that you're saving. Also, encourage your child to begin exploring career interests using self-assessment quizzes, career videos, tips for success, and other tools available in MEFA Pathway Your Plan for the Future℠.
- As your child selects high school courses, keep in mind that admissions offices consider academic rigor to be the most important qualification in college admissions.
- Use Net Price Calculators to better understand the true cost of college.
- Early in the planning process, have conversations with your child about college affordability and how it relates to your family.
- Once your college list is complete, research all of the deadlines and requirements for the financial aid application process.
- Keep saving money right up until your first college bill is due.
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