Giveaway from CollegeAdvantage!
College seems so incredibly expensive, and will probably only be getting more expensive in the future. Students aren’t the only ones who feel overwhelmed by applying to college, obtaining financial aid, and all the steps in between: many parents are intimidated by the lengthy and confusing process as well. More and more parents are realizing that they should start saving for their children’s college educations as early as possible. What do I know about this? My son is a high school sophomore and my oldest daughter starts high school next year. To say we are concerned about upcoming college payments is putting it lightly!
This year, resolve not to be intimidated. Instead, lay out a plan for how you and your child will tackle the process. Make time for research, college visits, applications, financial aid prep as needed, and discussions about the final big decision. Then break it down and take on only one project at a time.
My husband usually takes care of the investments and savings – but I have to admit this one caught my eye. And, to help boost awareness and help parents and grandparents start tucking away money for college in this tough economy, CollegeAdvantage is offering a $100 CollegeAdvantage scholarship to a reader (child of any age) to get them started on saving. Who-hoo! That is free money for your child’s education and gives you an little help in getting into the habit of starting a college fund no matter what your child’s age.
What is CollegeAdvantage? CollegeAdvantage is a tax-free and tax-deductible college savings option. It is a top-rated Morningstar 529 plan designed to provide families with an easy and affordable way to save for education expenses. Anyone can contribute to a fund or open one on behalf of a child, making an initial investment as low as $25 with no enrollment or annual maintenance fees. Putting aside just $25 per month in a CollegeAdvantage account from the time a child is born can grow to nearly $11,000 by the time that child turns 18. My favorite part is that families can enroll easily online, making an initial investment as low as $25. The CollegeAdvantage website features a handy college cost calculator to help families determine college savings goals and how to meet them.
Is CollegeAdvantage just for Ohio residents? That is what I was wondering, but the answer is “No.” CollegeAdvantage is Ohio’s 529 college savings program featuring tax-free savings, however anyone can open a CollegeAdvantage plan nationwide through the Ohio Tuition Trust Authority. Financial advisors can also help you invest in CollegeAdvantage, and it can be used at any accredited college nationwide.
A CollegeAdvantage 529 college savings account is the perfect gift for that college-bound young person on your shopping list this holiday season. Enrolling online is the fastest and easiest way to enroll. You can open and fund an online account in about 10 minutes. Don’t miss out on the $25 bonus offer when you open a new CollegeAdvantage direct account with a minimum $100 initial contribution. Promotion code PLAN will automatically populate the enrollment application when you click through here to begin the enrollment process. Offer ends December 31, 2011. Note: The $25 bonus contribution will be applied on or about March 15, 2012. View $25 Bonus Offer Rules.
Thinking about college and tuition can be scary, and not to mention paying for the books, dorms, and other expenses! However, CollegeAdvantage is not just for tuition fees. It can also be used for room and board, books and other qualified college expenses. And don’t worry- if your kid decides not to go to college, you can change beneficiary or withdraw the funds.
One thing we have done over the years to get our kids ready to leave the nest, is to take time to teach our kids about finances now while they are still at home. This is a good idea, no matter how your old child is. Even if your child is young, you can can start to teach the basics of budgeting and saving, so he or she will be prepared to take on more and more financial responsibility as they get older. Having a savings plan you can look at together and watch grow for their college education is a great teaching tool for your child while saving for their future education at the same time.
Here is how you enter to win the $100 CollegeAdvantage Scholarship (you do NOT have to live in Ohio or have an older child, any age child is eligible to receive this gift):
a Rafflecopter giveawayDisclosure: CollegeAdvantage compensated us for advertising on this site. All the opinions in this post are mine, want to know more about how I facilitate reviews, view my full disclosure policy!