September is more than Labor Day and the start of fall – it’s also College Savings Month.
As children board the school bus, bookbags packed and lunchboxes in hand, it’s natural for parents to start thinking toward the educational future. This brings up the topic of affording college – a concept that scares many parents.
College Savings Month aims to reduce this stress by sharing information about 529 programs and the benefits they offer. Virginia529 celebrates all September long, sharing tips and appearing at events across Virginia to help families reach their college savings goals.
Read on for a few tips to get you started.
Ask for help
You don’t have to do it alone. As an alternative to toys and other gifts for holidays or birthdays, ask family and friends to contribute to your child’s Virginia529 account. You’ll find gifting flexibility with gift cards, certificates and an online gifting center all available.
Automate your savings
If you already have a Virginia529 account, set up automatic monthly contributions through your bank. Small, regular contributions really add up, so sit back and watch your account grow.
Plan it out
Use college cost calculators for a better idea of how much to save, and use that knowledge to inform your budget. Virginia529 account holders also enjoy access to the free college planning center, which offers calendars and calculators to help you plan to meet your savings goals.