As High School comes to a close, it’s crucial to understand what to expect financially. College is right around the corner and learning how to pay for the increasing tuition price and inflated expenses needs to be at the forefront of your mind. In this video, we discuss the benefits of going to college, college savings plans, scholarships and federal aid, student loans, and the pitfalls of the modern college system. Additionally, we discuss how to effectively use credit to your advantage to not only protect yourself, but reap the future benefits.

College Loans, 529 College Savings Accounts, and Credit

While a college degree may seem overpriced, the goal is for the degree to pay for itself and ideally return more in future earnings. The average bachelor’s degree holder earns 86% more than high school graduates. Furthermore, unemployment rates have consistently been lower for college graduates compared to just high school graduates. Consequently, a college diploma has become a necessity for finding and keeping a good job. One of the difficult tasks of going to college is considering how to pay for the rising costs of attendance. Whether that may be by taking out student loans or using a 529 college savings plan established by a parent or grandparent, it is important to have a plan.

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