College Savings Month
September is College Savings Month – a time to plan ahead for educational expenses.
As many of us continue to enjoy summer in Michigan, various fairs, festivals and vacation; fall and the return to school will be here soon. For individuals that plan to pursue education, training or certification after high school, Michigan State University Extension suggest asking yourself if you are saving.
The College Savings Plan Network has declared the month of September as . It is a designated time of year for families and individuals to think about planning ahead for the cost of college or furthering your education. The 108th Congress actually past a resolution of support on October 15, 2003. This was in an effort to increase public awareness about the need to save and plan ahead for educational expenses.
Some of the costs that you may need to plan for include:
- Registration, fees or tuition
- Books and supplies
- Housing – where are you going to live?
- Transportation – do you need to plan for transportation costs?
- Food – what are you going to eat and where?
- Utilities (this would include your cell phone)
- Miscellaneous expenses – computer/laptop needs, activities, haircut, extracurriculars, etc.
Here are some resources that you may explore as you think about saving for future educational costs:
- Michigan Education Savings Plan
- Michigan Education Trust
- Michigan Postsecondary Admissions and Financial Assistance Handbook
In addition, Michigan 4-H Youth Development has materials available through the Michigan 4-H Money Management website to help young people and adults develop skills related to saving money. Build Your Future is a national 4-H curriculum that also includes a lesson on funding your career.
Plan now for the steps you can take this September to be a part of!