3. Saving

One of the best ways to save on college expenses is to plan for them early. The cost of college has grown quickly in recent years and is expected to keep growing. Planning and saving for college are the best ways to be prepared for the rising cost of higher education.

Saving for college is also important because it sets up an expectation of college. By saving for higher education, you are showing your family or yourself that you are going to college. Making that plan ahead of time can be a very powerful motivator.

There are many things to think about as you plan to save for your or your family’s education.

a. How much will college cost?

The cost of college will depend on the type of school, when you’re planning to attend and how long you or your family member will be enrolled. Use these calculators to estimate how much college might cost now and in the future as well as how much you could be saving to contribute to all or a portion of the cost of college.