A college saving plan for parents of any age can be very complicated and overwhelming.  To save for higher education whether the goal is private high school or college your first step should be to create a funding strategy.  Every family should begin with a budget so that they will learn to manage their expenses.    

After understanding and learning to live with your monthly budget, parents should then prioritize their retirement and college saving goals. 

For some parents, you may still have existing student loans and you should analyze these to maximum your own student loan repayment options.  This could lead to a lower monthly payment or loan forgiveness in the future.

This college saving plan video will explain how to set goals.  It will give a brief overview of retirement savings versus college savings options. 

The college saving plan video will provide information on the following:

  • Setting priorities

  • Retirement versus college saving options

  • Proper use of family gift

  • Overview of Financial Aid

  • College saving options

If you need additional information, please view the EFC PLUS blog, webinars and other videos.

College Planning for Younger Children