With the increasing cost of tuition and the added competitiveness to get into college, particularly in California, parents often feel discouraged by their child’s chances of attending college.. While it may seem like only a dream, the reality is that there are options available for parents who want to start saving for their child’s college education now.
ScholarShare, California’s state-sponsored college savings plan, is a low-cost program that gives parents a new tool to help them save for the increasing costs of college. “Starting a prudent, systematic savings program for your child at the youngest possible age, is the best way to ensure adequate money will be available when he or she reaches college age,” according to TIAA-CREF Western Regional Director John Middlebrook.
ScholarShare accounts are available to all Californians, regardless of income, and can be opened for as little as $25 ($15 is your employer provides payroll deduction). California’s ScholarShare program allows five different investment options free of federal and California taxes. Funds can then be used at nearly all U.S. colleges and universities, as well as accredited professional and trade school, and some schools overseas.
For more information, call 1 877 728-4338 or visit www.scholarshare.com.