Finding ways to pay for college is daunting. I was a young mother, therefore I was still paying on my college loans by the time my daughter started school. Saving for her college fund was just not in the budget at the time.
I kept putting off the plan to prepare for her college experience; always assuming I would have more time.
Last week she attended her high school JROTC military ball for the last time. Her senior year has almost come to a close and college is right around the corner.
Senior year has been costly. Our list of things to do has been so long that the year is overwhelming on many levels, beyond just the thought that my baby is graduating.
- Senior Yearbook Ad
- Cap & Gown
- Graduation Party
- Graduation Announcements/Invites
- Class Ring
- Letterman Jacket
- Senior Photos
- Military Ball
- Senior Trip
I think after paying for all of these things we could have paid for a semester in college!
How to Pay for College
In preparing for her to start college we are exploring our options for student loans.
I was recently introduced to College Ave Student Loans.
Here’s what I learned about the College Ave Student Loans Parent Loan program:
College Ave Student Loans recently launched the New Parent Loan, which offers savings over Federal Plus Loans. With no origination fee and a lower fixed interest rate than the federal program, College Ave Student Loans new parent loan has the potential to save parents hundreds of dollars. In fact, qualified parent borrowers save an average of $1,000 versus the Federal Direct Parent Plus program.
Not only do the parent loans offer savings, but they have more flexibility to fit your specific financial situation. Parents can choose to start paying the loan in full right away, or to limit monthly payments while the student is in school, and to pick their own repayment terms from 5 to 12 years. This is essential for us since we have several kids still living at home. We can push out the expense of college while still supporting our other children. No worries with being slapped with a monthly fee that we cannot afford.
Parents can also choose to have money deposited directly into their own bank account to help pay for extra expenses (like food, housing, laptop & books), which can add up to be a hefty up-front expense.
It is free to test out the site – try the College Ave Student Loans qualification tool and Parent Loan Calculator. It is so easy to customize options to fit your budget. Plus, the simple explanation and ease of the loan process allows students to focus on what matters most: a bright future.
How are you planning for your child’s college education?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.