When should you start saving for your child’s college?
The time to start saving is now. Planning and budgeting early for college means less strain on your finances later and more options for your child. It is never too late to begin. Visit our cost section with your child to help you both understand all of the costs of college and how you can be prepared. Follow the tips below to put together a plan.
Tips to help your child budget for college:
- Save money. Consider opening a bank account or a tax-free Indiana CollegeChoice 529 Savings Plan for your child. Encourage them to help contribute with money they may be given from family or earn from after-school jobs.
- Sign up for Upromise, and part of what you spend on eligible purchases (like groceries, gasoline and shopping) will be contributed automatically to your 529 Savings Plan.
- Find out if your student qualifies for the 21st Century Scholarship or other Indiana Scholarships here.
- Estimate your out-of-pocket costs. Use the College Costs Estimator with your child. They’ll need to know some of your financial information.
- Remind your child to file a FAFSA form during their senior year to determine financial aid eligibility. You can read more about the FAFSA here.