5 Ways To Pay For College

February 29, 2020 Student Loans

MoneyTips

Total student debt in America is almost $1.5 trillion, while the average person with education debt in 2018 owed between $20,000 and $24,999. This massive debt load threatens the ability of recent and future graduates to reach their goals of home ownership and economic independence.

How can you successfully get your children through college without subjecting them to suffocating debt obligations? You may not be able to escape completely debt-free, but here are five ways to lighten the load of student debt as much as possible.

1. Start Saving Early – You can’t beat the preemptive approach. Use the power of compound interest and start saving as early as possible for your child’s education. Don’t wait until the junior high or high school years — establish your fund before he or she starts grade school. Put away wh…

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