As a parent, it is your dream and hopes that you will be able to give your children everything they need in life. It involves great sacrifice from your part and in most cases, never works out the way you plan it. Have you started saving for your child’s college education? As things stand, almost 50% of American parents say they intend to start saving for their child’s higher education, but do not know how to go about it. Most households get torn between saving for retirement and saving for college.
In this unfortunate tug of war, the likely loser is always the college fund. Since the government and several other financial bodies can come to the aid of your child as far as college education expenses are concerned, most parents figure that it is okay to let their children fend for themselves on this front.
The problem with this strategy is that you are sentencing your child to starting life as an adult in deep, almost insurmountable debt. Not the best way to give your child the best chance to succeed in life.