I’m enjoying all the new “first day” photos being shared on social media. From backpacks to shots of roommates in a new apartment, the transitions are great to celebrate. No doubt parents everywhere are feeling relief that the school supply list and registration fees are out of the way for another year.
It isn’t always easy to meet those initial costs of sending your children to school. It’s been my experience, as a former high school teacher, that getting a graduating senior enrolled in their school of choice can be costly. Financial aid and scholarships often arrive after a student is enrolled. Registration fees, deposits for rooms/apartments, and upfront costs of supplies have to be covered from your own resources.
Parents can plan ahead by considering the purchase of savings bonds, starting a 529 College Savings Plan, or establishing a Cloverdell Savings Account. The funds have tax advantages and create accessible dollars for the first financial hurdles of enrolling in post-secondary education. Encouraging a teen who has employment to think ahead and plan for those costs, as well as having your own “think ahead” plan can lessen some of the stress of celebrating a “first day.”