Index

1. Costs of a College Education 2. College...is it worth the price? Steps to take when saving for college 3. Make yourself a plan 4. Getting started early 5. Help for the late starters 6. Educational IRA and Investing Strategies

Ok, so you decided to start saving for college a little late and college is just around the corner. First of all, I need you to take a deep breath. Don't worry, you can still save a nice amount by the time you enter college.

If you want to limit the burden of college expenses to make up for the time you lost, here are a few steps you can take:

Choose a school that is less expensive- Ok, you had hoped that you or your child would be able to go to that nice private school but you realize that you just cannot afford it. Perhaps you should consider a nice public school. Many states have great public schools that provide excellent educations and when you weigh in the cost factors, a public school may be a wiser choice. Is that nice private school really worth the extra $25,000? If not, then I'm sure you can find a nice public school for half the cost.

Find a school close to home- One of the things that many high school graduates look forward to is living on their own. After all, when you are an adult, how often do you really want your parents around? However, staying near home has some great financial advantages. Not only would you save money by not having to pay out-of-state tuition, but you would also save money on the trips back home for the holidays. And if you or your child gets in a bind for whatever the reason may be, they would be able to have their parents there for them.

Cut expenses- You can save money by using a little creativity here and there. Surviving through college can be a very difficult task sometimes. But you can help cut the costs of some expenses by a little. For example, instead of buying brand new books, you may consider buying used ones and some colleges also offer you the opporunity of borrowing them for a fee. You can also save money by spending a little less on entertainment if you are willing to part with a few luxuries here and there.

Join student-work programs- You can also help save a little on tuition by joining programs referred to "student-work programs". Basically, you have to work on campus for the school but they agree to take a certain amount off each year from your tuition. The only disadvantage with these is that you have less time to enjoy the freedom of college and less time to study.

See, things aren't as bad as they seem. It would have been nice to begin earlier but you have to work with what you've got. With the use of some creativity and some saving, you can still make college a very possible goal.

Next: Educational IRA and Investing Strategies