Ways to Prepare for Your Child's College Education Early

529 college savings and paying for education concept with piggy bank wearing eyeglasses alongside textbooks
529 college savings and paying for education concept with piggy bank wearing eyeglasses alongside textbooks

A college education is one of the most important milestones of anyone's life. You remember the thrill and excitement you felt when you decided on your career path and immersed yourself into your studies? You also want your child to feel that same level of anticipation. Fortunately, you don't have to wait for them to be older to start preparing for their college career. You can start planning it while they're still young. In this article, we'll be covering how parents can start saving and planning for their child's college education.

Get the Finances Ready

As you're aware, college is a very expensive investment. Not to mention, some degrees are typically more expensive than others. Take law and medical degrees for example. They usually average over $100,000 regardless. Granted, you don't have to worry about the cost just yet as your child won't choose a niche until much later. So, rather than fixate on a set cost, your bestinterest is to just save as much as you can. When the time comes, yet you don't have enough money, you can look into taking out low-rate private parent student loans. A parent-student loan is basically a loan where you're the one who will be paying off the debt instead. This is a great way to help your child focus on their studies without the burden of paying off student debt. Furthermore, you'll have an easier time bartering with financial aid.

Start Exploring College Options

Gathering the necessary finances is only the first part of this preparation. The next step involves sitting down with your child and going over the options for college. This can be a time-consuming process as some colleges may not have the degree they're looking for. In fact, some people even consider going out of state, and even abroad in some cases, just to get their degree. Make sure your child takes their time picking their college. Furthermore, it's important for you to not interject and choose for your child. Remember that this is their choice. You can offer advice and relay your own experiences, but don't pick a college for them. Once they are enrolled, they will need their own methods for relieving stress at school and if you do not help them gather those tools now you may be doing them a disservice.

Have Your Child Take the SATs

The Scholastic Assessment Tests (SATs) are a series of tests that basically gauges how ready your child is to move on to college. In fact, many colleges mandate that applicants submit their scores as a part of admission. The higher your score, the more likely you'll be accepted. When your child takes the SATs, they can expect to take the following courses:

  • Reading
  • Math
  • Writing and language

The maximum score your child can receive on these tests is 1600 with the lowest being 400. When it comes to being accepted into college, the average score your child needs to aim for is 1051. However, it's best if they score at 1200 to 1350 as it puts them miles ahead of other applicants.

Things to Consider

Planning out college for your child is one of the best ways you can look out for them. That's why it's very important for you to know what to plan for. However, remember that every college is different and might not have the same requirements as others.

 This post is provided by a third party who may receive compensation from the products or services they mention.


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