Financing College

Resources for college

by Teresa Sullivan

KEEPING GOOD RECORDS IS KEY

Especially if you are transferring frequently, it is important to make a file and keep it up to date.  Records get lost and activities are forgotten.  Keeping an ongoing record of what your child is involved in will make it infinitely easier when it actually comes time to list it all on a college application.  Keep track of clubs, sports teams, community involvement, extracurricular activities, awards and even part-time jobs.  Request a letter of recommendation from teachers whose classes your child performed exceptionally well in.  It is always better to ask for a recommendation letter when your child’s performance is fresh in their minds 

FINANCING COLLEGE

There is no doubt college is expensive.  According to USAA, college costs have risen 40 percent in the last decade, and there is no sign of them leveling off.  “The good news,” Barron says, “is that in the past few years, many organizations have stepped up to the plate to offer scholarships and other opportunities for military children.”  And don’t overlook the amount of college funds you can save on your own through such plans as the 529 College Savings Plan, the Coverdell Education Savings Account and prepaid tuition plans.

You don’t have to be obsessed with getting your child into college, but some basic planning early on can go a long way.  The sooner you come up with a plan, the more likely that your son or daughter will enjoy a rewarding college career, without having put the rest of the family into bankruptcy. 

Military Brat Scholarship Resources:

MilitaryScholar.org

AmericaSupportsYou.com

MilSpouse.org