Going to College
Preparing for the practical side of college life
As a parent, you've probably been planning and saving for your kids' college education for many years. And, ideally, your teen has been aware of your saving strategy and made some contributions.
But beyond tuition, there are a lot of other financial and practical life-skill considerations that you'll want to share with your teen. So before he or she heads off to college, make sure to:
- Review everyday living costs and create a budget together. The monthly budget planner can make this easy and effective.
- Be clear about what you expect your student to pay for.
- Open savings and checking accounts. If your teen doesn't already have a credit card, help shop for one with the best terms.
- Help evaluate the rates and terms if your student is considering loans.
If you have a 529 plan or Education Savings Account
(ESA) for your student, be sure to review what's considered a qualified expense as you prepare to make withdrawals to cover college costs.
The information on this website is for educational purposes only. It is not intended to be a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner or investment manager.