One of the main reasons that people seek the help of professional investment services is
because they want to start saving for their child or children’s college funds.
Unfortunately, most people don’t seek the help of these services when their
children are young. Instead, they seek them a year or so (or even later!)
before their children are about to start college.
If you’re in the same boat, don’t beat yourself up. While
saving well ahead of time is definitely smart, you can’t turn back the hand of
time. If you’re in need of fast money to help pay for your child’s college
costs, you do have some options.
To begin with, start looking at local scholarships for which
your child is eligible. There are lots of good ones out there, but you’ll often
have more luck if you turn to those lesser-known or local scholarships for
which the competition isn’t quite so fierce.
It’s also, contrary to popular belief, not such a bad idea
to take out a few college loans to help ends meet. A financial advisor can help
you to choose smart loans and to develop a plan for paying them back.
Even if you didn’t start saving when you should, college is likely still a possibility for your child. You just need to take action now and get the right help to make it happen.
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