Hey Parents

Do you need to plan how to pay for college or university?

College student
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The cost of higher education can be a significant worry for many parents. This includes tuition fees, living expenses, books, and other supplies. The process of applying for financial aid, scholarships, and loans can also be complex and daunting.

Here are some strategies and resources that might help.

Strategies and Resources

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 Plan for funding early

Begin discussing how college or university will be paid for as early as possible. Starting this discussion early will set realistic expectations and allow time for finding alternative funding if required.

Part of this planning should include creating a realistic budget for the student.
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How can you help your kid succeed in college or university?

 Discuss budgeting and financial planning with your teen

Its really important to be on the same page with your teen when it comes to planning for formal education.

Your teen might have an expectation that you will be able to pay for their full education, no matter where they choose to go, and you might only be able to help a little, if at all.

No surprises!!!

 Explore various financial aid options together

There are many options for financial aid your teen may be able to apply for.

The most obvious would be a bursary or scholarship through the school your child intends to attend, but there are many other options to look for.

Employers, unions, charities, small business associations, city and municipal councils, and high schools sometimes offer bursaries or scholarships, just to name a few. Your network is your friend here.

Mention that your teen is getting ready for college or university to everyone you speak to. Hinting that you're worried about finances can't hurt too!

 Teach them about student bank accounts and loans

Its in their financial interest to have a student bank account. In fact, learning about how banking works will help them stay on top of their finances.

If you need help teaching your teen about how personal banking works, especially in today's world of online banking, enroll them in our online course: Make the best personal banking choices.
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Online course

Make the best personal banking choices

An introduction to personal banking