In many cases, particularly among those who start families later in life, they are paying for their children to attend college while saving for their own retirement. Taking advantage of those opportunities, however, requires proper planning, a little creativity, being smart about leveraging finances and extensive homework. College Parents of America, a national non-profit membership organization, offers several suggestions to help families pay for higher education. The earlier you start, the more significant your savings will be. Grandparents and parents can contribute to an education IRA to pay qualified education expenses.
Some schools are more affordable than others.
Education is costly, but there are good schools in each state that are actually competing for students. Attend a more affordable school for the first two years Students can reduce costs significantly by attending a community college or junior college for two years and then transferring to a four-year institution. Since many, and in some cases all, of the course credits may transfer, with proper planning, students can complete their degrees in virtually the same amount of time while saving significantly on tuition. Consider letting Uncle Sam pay the bills Military service makes education affordable. Some schools also provide free or reduced tuition in exchange for working part time on campus.