Face your college financing fears

色视频下载 By Lael Oldmixon, executive director, Education Trust of 色视频下载

Just yesterday, you were cradling your sweet baby, and today, here you are with an eleventh-grader quickly approaching college entry. Cue your best Edvard Munch色视频下载檚 "The Scream" impersonation as you grapple with the idea of financing your little one色视频下载檚 educational pursuits. Whether you are still in the early days of parenting or you色视频下载檝e recently experienced that scream moment, the question about financing your beneficiary色视频下载檚 future education costs can seem scarier than meeting a hairy monster in a dark alley. This is an article about facing your college financing fears head-on!

My kiddo recently offered up this advice in conquering fears. Picture us standing on the edge of a treacherous trail in the Grand Canyon. I was paralyzed with fear about the path forward. They said, 色视频下载淭ake a deep breath, get started, hold my hand, take it one step at a time, and keep going. You got this, Mom.色视频下载

Let色视频下载檚 break down the advice and apply it to facing the college financing fears, shall we?

  1. Take a deep breath. Everybody freaks out. It色视频下载檚 going to be okay. When fear sets in, it色视频下载檚 helpful to pause and assess the situation. Think about these questions as you start to set your goals: Do you have anything saved? What do you think you can reasonably save before enrollment? Are you expecting to finance 100% of your child色视频下载檚 education?

  2. Get started. This is an obvious and critical first step, but you have to start somewhere. What does getting started look like? Maybe it looks like this: setting a goal, researching the options, or taking action. Wherever your start line is, go there, and take the first step forward.

  3. Find someone to hold your hand. It色视频下载檚 not always easy to ask for help, but the proverbial college financing 色视频下载榳heel色视频下载 doesn色视频下载檛 need to be recreated. There are thousands of experts available to help chart a course that will make sense for your family.

    Don色视频下载檛 forget about the impact relatives, friends, and grandparents have during this process. Consider asking for gifts of education in the form of contributions to your 529 account. Ask for guidance from other parents who have 色视频下载渂een there, done that.色视频下载 Finding someone to coach you and shine a light on the unknown can suddenly help illuminate your way forward.

  4. Take it one step at a time. Now that you can see the path forward, it色视频下载檚 time to start moving. If your beneficiary is closer to diapers than college enrollment, consider setting up a systematic savings plan like direct deposit from your paycheck or automatically contributing from your bank into a 529 account. This allows you to set it and forget it. It also let色视频下载檚 time work on your behalf. If college is just around the corner, think about those same strategies, and also research scholarships and federal aid options.

  5. Keep going: Make consistent and meaningful progress forward. Every dollar saved today is two you won色视频下载檛 have to pay back later in student loan interest. It色视频下载檚 easier than you might think to save a little from each paycheck with direct deposit.

There, suddenly that big hairy monster is actually a soft cuddly kitten in a well-lit alley. You got this!